XML 18 R5.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net loss $ (1,872,114) $ (1,376,657)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 14,390 14,467
Stock-based compensation expense 497,171 33,590
Changes in assets and liabilities:    
Grant funds receivable 119,978 40,041
Prepaid expenses and other current assets 12,954 4,609
Accounts payable and accrued expenses 53,205 (5,934)
Total adjustments 697,698 86,773
Net cash used in operating activities (1,174,416) (1,289,884)
Cash flows from investing activities:    
Purchase of property and equipment (15,850)
Net cash used in investing activities (15,850)
Cash flows from financing activities:    
Net proceeds from sale of preferred stock 2,679,809
Net proceeds from sale of common stock 329,198
Net cash provided by financing activities 329,198 2,679,809
Net increase (decrease) in cash and cash equivalents (845,218) 1,374,075
Cash and cash equivalents at beginning of period 1,060,348 1,101,651
Cash and cash equivalents at end of period $ 215,130 $ 2,475,726