Cash Flow

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net loss $ (4,214,500) $ (2,265,300)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 15,000 23,600
Stock-based compensation 612,600 367,000
Amortization of deferred rent (13,600) 63,300
Fair value of common stock granted for services 145,000 49,800
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 148,500 101,000
Accounts payable and accrued expenses, including accrued interest 171,700 (473,500)
Net cash used in operating activities (3,135,300) (2,134,100)
Cash flows from investing activities:    
Construction of tenant improvements (35,400) 0
Net cash used in investing activities (35,400) 0
Cash flows from financing activities:    
Net proceeds from issuance of common stock and warrants, including Units 57,500 873,300
Repayment of capital lease obligations (600) (600)
Repayment of notes payable (33,300) (31,700)
Net cash provided by financing activities 23,600 841,000
Net increase in cash and cash equivalents (3,147,100) (1,293,100)
Cash and cash equivalents at beginning of period 10,378,300 2,921,300
Cash and cash equivalents at end of period 7,231,200 1,628,200
Supplemental disclosure of noncash activites:    
Insurance premiums settled by issuing note payable 160,500 142,400
Accrued dividends on Series B Preferred $ 273,500 $ 247,300

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