Cash Flow

v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:    
Net loss $ (10,267,100) $ (7,706,700)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 65,300 37,600
Stock-based compensation 1,386,900 573,900
Expense related to modification of warrants, including exchange of warrants for common stock 292,700 427,500
Amortization of deferred rent 159,900 20,400
Fair value of common stock granted for services 1,554,800 1,217,500
Fair value of Series B Preferred stock granted for services 0 375,000
Fair value of warrants granted for services 0 240,300
Loss on extinguishment of accounts payable 135,000 0
Changes in operating assets and liabilities:    
Sublicense fee receivable 0 (1,250,000)
Prepaid expenses and other current assets 259,600 22,000
Accounts payable and accrued expenses, including accrued interest (41,800) 74,200
Net cash used in operating activities (6,454,700) (5,968,300)
Cash flows from investing activities:    
Purchases of equipment (1,600) (9,900)
Net cash used in investing activities (1,600) (9,900)
Cash flows from financing activities:    
Net proceeds from issuance of common stock and warrants, including Units 16,721,900 9,785,000
Net proceeds from issuance of Series B Preferred Units 0 278,000
Repayment of capital lease obligations (1,700) (800)
Repayment of notes payable (153,400) (140,500)
Net cash provided by financing activities 16,566,800 9,921,700
Net increase in cash and cash equivalents 10,110,500 3,943,500
Cash and cash equivalents at beginning of period 2,921,300 428,500
Cash and cash equivalents at end of period 13,031,800 4,372,000
Supplemental disclosure of noncash activites:    
Insurance premiums settled by issuing note payable 142,400 117,500
Accrued dividends on Series B Preferred 766,600 780,800
Accrued dividends on Series B Preferred settled upon conversion by issuance of common stock 0 1,768,800
Deemed dividend from trigger of down round provision feature $ 199,200 $ 0

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