v3.19.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (19,283,156) $ (11,554,686)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 36,424 8,806
Equity based compensation 7,696,286 4,342,906
Change in fair value of modified options 666,062 0
Changes in operating assets and liabilities:    
Vendor deposits (330,444) 0
Prepaid expenses (97,158) (29,349)
Security deposit (47,601) (44,619)
Accounts payable and accrued expenses (226,829) (10,783)
Lease liability, net 4,730 0
Deferred rent payable 0 1,404
Net cash used in operating activities (11,581,686) (7,286,321)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Payments of patent costs (111,316) (227,846)
Payment of trademark costs (275) (850)
Purchase of property and equipment (83,297) (21,674)
Net cash used in investing activity (194,888) (250,370)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock 8,619,278 9,139,721
Proceeds from sale of subsidiary stock to non-controlling interest 3,694,646 0
Subscription received from subsidiary stock subscription from non-controlling interest 501,000 0
Proceeds from sale of Series E preferred stock 0 1,492,969
Proceeds from exercise of warrants 6,354,870 2,020,342
Proceeds from exercise of options 465,198 615,600
Net cash provided by financing activities 19,634,992 13,268,632
Net increase in cash and cash equivalents 7,858,418 5,731,941
Cash and cash equivalents, beginning of the period 4,450,160 1,547,579
Cash and cash equivalents, end of the period 12,308,578 7,279,520
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 0 0
Cash paid during the period for income taxes 0 0
Reclassify fair value of derivative and warrant liabilities to equity upon adoption of ASU 2017-11   3,044,162
Dividend payable on preferred stock charged to additional paid in capital 20,286 780,346
Right-to-use assets and lease liability recorded upon adoption of ASC 842 422,215 0
Record right-to-use assets and related lease liability 511,236 0
Series C Preferred Stock [Member]    
Supplemental disclosures of cash flow information:    
Common stock issued upon conversion of Preferred Stock and accrued dividends 399,592 744,459
Series D Preferred Stock [Member]    
Supplemental disclosures of cash flow information:    
Common stock issued upon conversion of Preferred Stock and accrued dividends 0 540,271
Series E Preferred Stock [Member]    
Supplemental disclosures of cash flow information:    
Common stock issued upon conversion of Preferred Stock and accrued dividends 0 196,875
Upon Adoption of ASU 2017-11 [Member]    
Supplemental disclosures of cash flow information:    
Reclassify fair value of derivative and warrant liabilities to equity upon adoption of ASU 2017-11 $ 0 $ 3,044,162

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