Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (unaudited)

v2.4.0.8
Condensed Consolidated Statements of Cash Flows (unaudited) (USD $)
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Operating Activities    
Net loss $ (7,271,567) $ (2,880,855)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 99,904 109,044
Stock based compensation 311,907 236,966
Common stock and warrants issued to settle liabilities for services 403,483 348,172
Amortization of stock issued in advance of services    52,500
Non-operating income - grants received (143,987)   
Loss on derivative re-measurement 3,363,561   
Changes in operating assets and liabilities:    
Prepaid expenses (61,483) (81,965)
Other current assets (88,422) 7,292
Accounts payable and accrued liabilities 238,446 (166,093)
Net Cash Used In Operating Activities (3,148,158) (2,374,939)
Investing Activities    
Purchases of property and equipment (297,607) (713)
Net Cash Used in Investing Activities (297,607) (713)
Financing Activities    
Proceeds from issuance of common shares 4,893,529 1,871,500
Grants received 143,987 605,154
Grants repaid (33,166)   
Repayment of notes payable    (1,321)
Net Cash Provided By Financing Activities 5,004,350 2,475,333
Effect of foreign exchange on cash (27,622) (2,627)
Increase in Cash 1,530,963 97,054
Cash - Beginning of Period 888,704 376,421
Cash - End of Period 2,419,667 473,475
Supplemental Disclosures of Cash Flow Information    
Interest paid 10,274   
Income tax paid      
Non Cash Financing Activities::    
Common stock issued for debt    $ 77,333