XML 17 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,178,211) $ (2,293,128)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 1,363,410 1,949,395
Waiver of common stock issuable (1,542,000)
Changes in operating assets and liabilities:    
Research and development tax credit receivable (476,704) (251,472)
Other tax receivable (77,775) (67,315)
Joint development cost receivable (31,340)
Prepaid expenses (244,869) (184,472)
Prepaid expenses - related party 26,266 (244,882)
Accounts payable and accrued liabilities 222,904 (115,004)
Accounts payable and accrued liabilities - related parties 149,221 (200,654)
Deferred liabilities 361,842
Operating lease liability - related party 822 (24,653)
Net cash used in operating activities (2,853,094) (3,005,525)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from sale of common stock 1,667,489 12,209,021
Purchase of common stock (1,012,000)
Net cash provided by financing activities 655,489 12,209,021
Impact on cash from foreign currency translation 18,641 (25,736)
NET (DECREASE) INCREASE IN CASH (2,178,964) 9,177,760
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 6,995,525 186,204
CASH AND CASH EQUIVALENTS AT END OF PERIOD 4,816,561 9,363,964
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:    
Cash paid for income taxes
Cash paid for interest expense
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Capital contribution 215,761
Issuance of warrants to placement agents 247,452
Issuance of common stock issuable $ 3,084,000