XML 28 R6.htm IDEA: XBRL DOCUMENT v3.19.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Statement of Cash Flows [Abstract]    
Net loss $ (126,709,485) $ (93,226,179)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation of fixed assets 223,750 121,423
Amortization of intangible assets 140,206 77,123
Write off of patent and trademark cost 78,864
Non-cash operating lease expense 711,836
Provision for doubtful accounts 95,097 231,475
Loss on extinguishment of debt 10,057,632
Share-based compensation 7,859,357 6,388,635
Amortization of intellectual property license fee 15,998  
Amortization of deferred financing fees 582,829 149,909
Changes in operating assets and liabilities:    
Accounts receivable (4,354,890) (8,705,325)
Inventory (7,265,174) (892,863)
Other current assets (1,128,515) 1,233,482
Accounts payable 1,389,665 7,284,493
Accrued expenses and other liabilities 3,402,511 8,670,986
Net cash used in operating activities (114,900,319) (78,666,841)
CASH FLOWS FROM INVESTING ACTIVITIES    
Payment for intellectual property license (20,000,000)
Patent costs (1,068,542) (748,906)
Purchase of fixed assets (2,089,413) (66,295)
Payment of security deposit (20,420) (11,485)
Net cash used in investing activities (3,178,375) (20,826,686)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from Financing Agreement 200,000,000
Proceeds from exercise of options and warrants 108,656 1,236,313
Proceeds from sale of common stock, net of costs 89,907,797
Proceeds from Credit Agreement 75,000,000
Payment of deferred financing fees (6,652,270) (3,786,918)
Repayment of Credit Agreement (81,660,719)
Net cash provided by financing activities 111,795,667 162,357,192
(Decrease) increase in cash (6,283,027) 62,863,665
Cash, beginning of period 161,613,077 127,135,628
Cash, end of period 155,330,050 189,999,293
Interest paid 12,446,792 1,759,316
Amount accrued for intellectual property license $ 20,000,000