XML 76 R6.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (176,144,999) $ (132,617,160) $ (76,925,380)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation of fixed assets 415,193 181,412 141,601
Amortization of intangible assets 197,593 112,474 71,516
Write off of patent and trademark cost 78,864
Non-cash operating lease expense 1,062,318
Provision for doubtful accounts 307,438 216,022 4,206
Loss of extinguishment of debt 10,057,632
Share-based compensation 10,693,662 8,661,967 6,889,323
Amortization of intellectual property license fee 778,692
Amortization of deferred financing costs 856,302 269,859
Changes in operating assets and liabilities:      
Accounts receivable (13,639,575) (6,951,041) 167,691
Inventory (8,593,046) (1,782,312) (409,037)
Other assets (1,880,048) (2,657,190) (4,434,130)
Accounts payable (3,562,629) 18,646,241 (3,260,914)
Accrued expenses and other liabilities 13,675,008 9,107,947 1,599,510
Net cash used in operating activities (165,697,595) (106,811,781) (76,155,614)
CASH FLOWS FROM INVESTING ACTIVITIES      
Payment for intellectual property license (20,000,000) (20,000,000)
Patent costs (1,441,989) (1,105,407) (765,291)
Purchase of fixed assets (2,450,285) (217,040) (61,817)
Payment of security deposit (20,420) (175,410)
Net cash used in investing activities (23,912,694) (21,497,857) (827,108)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from exercise of options and warrants 108,656 1,666,208 4,011,614
Proceeds from sale of common stock, net of costs 77,031,258 89,907,797 68,572,635
Proceeds from Financing Agreement 200,000,000
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 188,826,925 162,787,087 72,584,249
(Decrease) increase in cash (783,364) 34,477,449 (4,398,473)
Cash, beginning of period 161,613,077 127,135,628 131,534,101
Cash, end of period 160,829,713 161,613,077 127,135,628
Supplemental disclosure of cash flow information      
Interest paid $ 17,787,903 $ 1,890,166