XML 18 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
9 Months Ended 12 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
Operating activities      
Net loss $ (5,132,914) $ (3,433,068) $ (5,058,426)
Adjustments to reconcile net loss to net cash used in operating activities:      
Amortization 16,291 13,368 17,633
Stock-based compensation 486,120 76,794 76,794
Forgiveness of subscription 9,051 9,050
Non-cash interest on convertible promissory notes 152,045 76,359 115,867
Non-cash discount amortization on convertible and short-term promissory notes 611,020 943,427 1,242,031
Note issuance costs attributed to warrant liability and to convertible promissory note modification 38,119 38,119
Revaluation of premium conversion derivatives (371,831) 90,212 (17,962)
Revaluation of warrant liability 35,235 (12,707) 258,015
Loss on note extinguishments, net 1,314,487 350,914
Change in assets and liabilities:      
Prepaid expenses and other assets 1,768 46,677 46,677
Accounts payable 221,235
Accrued expenses 437,337 642,099 813,215
Net cash used in operating activities (2,229,207) (1,509,669) (2,108,073)
Investing activities      
Purchase of intangible assets (55,000) (91,709)
Net cash used in investing activities (55,000) (91,709)
Financing activities      
Proceeds from issuance of convertible promissory notes and short-term notes 432,849 675,705 1,004,134
Proceeds from issuance of warrants associated with convertible promissory notes 442,151 440,919 777,490
Proceeds from issuance of warrants associated with short-term notes 61,496 61,496
Proceeds from issuance of common stock in connection with private placement 824,894
Proceeds from issuance of warrants in connection with private placement 288,106
Proceeds (repayment) from unsecured loans 283,000 (50,000) (50,000)
Issuance costs related to short-term note (3,030) (3,030)
Issuance costs related to convertible promissory notes (35,689) (45,468)
Issuance costs related to warrants (31,920) (40,590)
Net cash provided by financing activities 2,271,000 1,057,481 1,704,032
Net decrease in cash (13,207) (452,188) (495,750)
Cash at beginning of period 26,467 522,217 522,217
Cash at end of period 13,260 70,029 26,467
Supplemental non-cash financing and investing transactions:      
Bifurcation of premium conversion derivatives related to convertible promissory notes 168,384 213,961 342,486
Conversion of short-term notes and convertible promissory notes into common stock 2,063,361
Issuance of additional warrants in connection with short-term notes and convertible promissory notes modifications 829,378 117,280
Purchased intangible assets in accrued liabilities 30,000
Common stock issued for the purchase of intangible assets 23,115 23,415
Accrued issuance costs related to private placement 173,067
Accrued issuance costs attributed to short-term promissory notes and convertible promissory notes 2,850 42,811 57,037
Accrued issuance costs attributed to warrant liability $ 38,119 $ 38,119