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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended
--- | ---
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |
Net loss | $ (76,925,380) | $ (89,875,459) | $ (85,077,024)
Adjustments to reconcile net loss to net cash flows used in operating activities: |  |  |
Depreciation | 141,601 | 77,906 | 29,959
Amortization of intangible assets | 71,516 | 54,545 | 32,441
Provision for doubtful accounts | 4,206 | 2,524,909 | 22,157
Share-based compensation | 6,889,323 | 17,411,021 | 7,189,699
Changes in operating assets and liabilities: |  |  |
Accounts receivable | 167,691 | (3,975,893) | (917,656)
Inventory | (409,037) | (386,168) | 491,960
Other current assets | (4,434,130) | 709,907 | (773,532)
Other assets |  |  | (17,442)
Accounts payable | (3,260,914) | 4,232,340 | (3,200,955)
Deferred revenue |  |  | (522,613)
Other current liabilities | 1,599,510 | 84,559 | 3,698,887
Net cash used in operating activities | (76,155,614) | (69,142,333) | (79,044,119)
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |
Patent costs | (765,291) | (845,266) | (419,104)
Purchase of fixed assets | (61,817) | (396,154) | (165,257)
Payment of security deposit |  | (14,036) |
Net cash used in investing activities | (827,108) | (1,255,456) | (584,361)
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |
Proceeds from sale of common stock, net of costs | 68,572,635 | 134,863,475 | 91,374,649
Proceeds from exercise of options | 212,615 | 989,060 | 1,232,579
Proceeds from exercise of warrants | 3,798,999 | 1,373,000 | 366,000
Net cash provided by financing activities | 72,584,249 | 137,225,535 | 92,973,228
(Decrease) increase in cash | (4,398,473) | 66,827,746 | 13,344,748
Cash, beginning of period | 131,534,101 | 64,706,355 | 51,361,607
Cash, end of period | $ 127,135,628 | $ 131,534,101 | $ 64,706,355

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- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6388964&loc=d3e16225-109274 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=98514028&loc=d3e3602-108585 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
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