XML 15 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Loss $ (1,767,869) $ (1,563,512)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation expense 262 61
Stock based compensation 868,933 654,707
Change in fair value of the derivative liability (17,748) (81,509)
Gain on sale of marketable securities (1,568) (963)
Modification of warrants 99,782
Changes in operating assets and liabilities    
Prepaid expenses 30,589 (54,375)
Accounts payable and accrued expenses 124,005 (17,262)
NET CASH USED IN OPERATING ACTIVITIES (763,396) (963,071)
CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES    
Sale of marketable securities 3,170,000 1,695,000
Purchase of marketable securities (2,369,839) (2,847,736)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 800,161 (1,152,736)
Effect of exchange rate on cash and cash equivalents (4,520) (32,457)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 32,245 (2,148,264)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 399,687 3,100,398
CASH AND CASH EQUIVALENTS, END OF PERIOD 431,932 952,134
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest expense
Cash paid for income taxes
NONCASH TRANSACTIONS    
Unrealized (gain) loss on marketable securities $ (6,674) $ 1,998