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 ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (10,091,000) $ (5,058,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 1,000 1,000
Stock compensation expense for options and warrants issued to employees and non-employees 3,060,000 873,000
Amortization of debt discounts 2,665,000 814,000
Non-cash interest expense 266,000 2,197,000
Amortization of loan costs 407,000 0
Changes in operating assets and liabilities:    
Other assets 0 0
Accounts payable and accrued expenses (534,000) 523,000
Net cash used in operating activities (4,226,000) (650,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of fixed assets (2,000) 0
Net cash used by investing activities (2,000) 0
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from notes payable 7,055,000 866,000
Loan costs (533,000) 0
Repayment of note payable 0 0
Net cash provided by financing activities 6,522,000 866,000
Minority Interest 0 0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 2,294,000 216,000
CASH AND CASH EQUIVALENTS - Beginning of period 576,000 19,000
CASH AND CASH EQUIVALENTS - End of period 2,870,000 235,000
Supplemental disclosures:    
Issuance of common stock upon conversion of convertible notes 0 1,864,000
Issuance of common stock upon conversion of accrued interest $ 0 $ 442,000