XML 32 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (4,409,797)us-gaap_NetIncomeLoss $ (3,912,326)us-gaap_NetIncomeLoss
Adjustment to reconcile net loss to net cash used in operating activities    
Warrants issued for services 148,681us-gaap_AdjustmentOfWarrantsGrantedForServices 135,851us-gaap_AdjustmentOfWarrantsGrantedForServices
Stock options issued for services 824,726us-gaap_ShareBasedCompensation 674,897us-gaap_ShareBasedCompensation
Common stock issued for services and fees 41,362us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims 212,156us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims
Depreciation and amortization of patents 151,183us-gaap_DepreciationAndAmortization 126,773us-gaap_DepreciationAndAmortization
(Increase) decrease in assets    
Prepaid expenses and other current assets 3,977us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (42,229)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Increase (decrease) in liabilities    
Accounts payable 112,755us-gaap_IncreaseDecreaseInAccountsPayable (30,974)us-gaap_IncreaseDecreaseInAccountsPayable
Accounts payable and accrued expenses-related parties (38,494)us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties (6,789)us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties
Accrued expenses 25,404us-gaap_IncreaseDecreaseInAccruedLiabilities 4,611us-gaap_IncreaseDecreaseInAccruedLiabilities
Net cash used in operating activities (3,140,203)us-gaap_NetCashProvidedByUsedInOperatingActivities (2,838,030)us-gaap_NetCashProvidedByUsedInOperatingActivities
CASH FLOWS FROM INVESTING ACTIVITIES    
Cost of intangibles (81,350)us-gaap_PaymentsToAcquireIntangibleAssets (69,875)us-gaap_PaymentsToAcquireIntangibleAssets
Purchase of equipment, furniture and leasehold improvements (213,189)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (109,278)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Net cash used in investing activities (294,539)us-gaap_NetCashProvidedByUsedInInvestingActivities (179,153)us-gaap_NetCashProvidedByUsedInInvestingActivities
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuance of common stock, private placement 3,140,000us-gaap_ProceedsFromIssuanceOfPrivatePlacement   
Issuance of common stock, exercise of options and warrants 153,830us-gaap_ProceedsFromOtherEquity 72,508us-gaap_ProceedsFromOtherEquity
Issuance of common stock, institutional investor 1,036,148lwlg_CommonStockIssuedToInstitutionalInvestorValue 2,278,500lwlg_CommonStockIssuedToInstitutionalInvestorValue
Net cash provided by financing activities 4,329,978us-gaap_NetCashProvidedByUsedInFinancingActivities 2,351,008us-gaap_NetCashProvidedByUsedInFinancingActivities
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 895,236us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (666,175)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR 2,270,704us-gaap_CashAndCashEquivalentsAtCarryingValue 2,936,879us-gaap_CashAndCashEquivalentsAtCarryingValue
CASH AND CASH EQUIVALENTS - END OF YEAR $ 3,165,940us-gaap_CashAndCashEquivalentsAtCarryingValue $ 2,270,704us-gaap_CashAndCashEquivalentsAtCarryingValue