Cash Flow

v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (2,265,300) $ (1,967,100)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 23,600 13,300
Stock-based compensation 367,000 107,900
Expense related to modification of warrants, including exchange of warrants for common stock 0 40,300
Amortization of deferred rent 63,300 (7,900)
Fair value of common stock granted for services 49,800 0
Fair value of Series B Preferred stock granted for services 0 375,000
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 101,000 34,600
Accounts payable and accrued expenses, including accrued interest (473,500) (267,100)
Net cash used in operating activities (2,134,100) (1,671,000)
Cash flows from investing activities:    
Purchases of equipment 0 (2,000)
Net cash used in investing activities 0 (2,000)
Cash flows from financing activities:    
Net proceeds from issuance of common stock and warrants, including Units 873,300 9,537,100
Net proceeds from issuance of Series B Preferred Units 0 278,000
Repayment of capital lease obligations (600) (300)
Repayment of notes (31,700) (70,400)
Net cash provided by financing activities 841,000 9,744,400
Net increase (decrease) in cash and cash equivalents (1,293,100) 8,071,400
Cash and cash equivalents at beginning of period 2,921,300 428,500
Cash and cash equivalents at end of period 1,628,200 8,499,900
Supplemental disclosure of noncash activites:    
Insurance premiums settled by issuing note payable 142,400 117,500
Accrued dividends on Series B Preferred 247,300 539,800
Accrued dividends on Series B Preferred settled upon conversion by issuance of common stock $ 0 $ 1,683,400

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