Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating Activities:    
Net loss $ (3,008,000) $ (8,494,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Fair value of common shares issued for services and vested stock options 851,000 4,610,000
Financing costs 84,000 172,000
Amortization of debt discount 1,054,000 748,000
Change in fair value of derivative liability (944,000) 2,625,000
Debt extinguishment costs, net (652,000)
Depreciation and amortization 4,000 5,000
Effect of changes in assets and liabilities:    
Accounts payable, accrued expenses, and accrued interest 1,047,000 (12,000)
Other assets (44,000)
Deferred revenue 2,000
Accounts receivable (6,000)
Prepaid expenses (129,000) 5,000
Net cash used in operating activities (1,089,000) (993,000)
Financing Activities:    
Proceeds from convertible note payable 432,000 130,000
Proceeds from notes payable 350,000
Proceeds from related party note payable 58,000
Deferred offering costs (326,000)
Proceeds from sale of common stock 2,279,000
Proceeds from exercise of put option 1,000,000
Proceeds from warrant exercise 22,000
Payment of convertible notes payable (845,000)
Net cash provided by financing activities 514,000 2,586,000
Net change in cash (575,000) 1,593,000
Cash - beginning of period 634,000 11,000
Cash - end of period 59,000 1,604,000
Supplemental disclosures of cash flow information:    
Cash paid for interest 32,000 259,000
Supplemental disclosure of non-cash investing and financing activities:    
Conversion of note payable and accrued interest to common stock 2,277,000
Common stock issued to settle accrued officers' salary
Fair value of derivative liability from issuance of convertible debt, inducement shares and warrant features 388,000 302,000
Fair value of warrants issued and beneficial conversion feature to extinguish debt 723,000
Fair value of common shares, warrants and beneficial conversion feature of issued convertible note 128,000
Common stock issued to settle accounts payable $ 582,000