Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.8.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss)/income $ (137,221,000) $ 23,862,000
Adjustments to reconcile net (loss)/income to net cash used in operating activities:    
Depreciation 2,000 1,000
Stock compensation expense for options and warrants issued to employees and non-employees 125,905,000 5,812,000
Amortization of debt discounts 4,791,000 1,625,000
Note allonge 100,000 0
Non-cash interest expense 2,197,000 1,697,000
Change in value of warrant and derivative liabilities (925,000) (37,195,000)
Changes in operating assets and liabilities:    
Other assets (7,000) 0
Accounts payable and accrued expenses 1,880,000 2,403,000
Net cash used in operating activities (3,278,000) (1,795,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from notes payable 5,991,000 1,902,000
Repayment of note payable 0 0
Net cash provided by financing activities 5,991,000 1,902,000
Minority Interest 0 0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 2,713,000 107,000
CASH AND CASH EQUIVALENTS - Beginning of period 19,000 47,000
CASH AND CASH EQUIVALENTS - End of period 2,732,000 154,000
Supplemental Disclosures:    
Interest paid 0 0
Income taxes paid 0 0
Supplemental non-cash activities    
Issuance of common stock upon conversion of convertible notes 0 1,794,000
Issuance of common stock upon conversion of accrued interest 0 346,000
Acquisition of intangibles through issuance of common stock $ 253,777,000 $ 0