Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (unaudited)

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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating Activities    
Net loss $ (3,880,893) $ (1,377,623)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 91,458 63,585
Stock based compensation 431,330 85,080
Common stock and warrants issued for services (20,641) 55,432
Non-operating income - grants received (146,812) (143,987)
Gain on derivative re-measurement (339,744) (767,001)
Changes in operating assets and liabilities:    
Prepaid expenses (119,261) (46,393)
Other current assets (70,173) (38,756)
Accounts payable and accrued liabilities (83,606) (114,900)
Net Cash Used In Operating Activities (4,138,342) $ (2,284,563)
Investing Activities    
Purchases of patents (55,000)  
Purchases of property and equipment (62,247) $ (46,671)
Net Cash Used in Investing Activities (117,247) (46,671)
Financing Activities    
Net proceeds from issuance of common shares 11,253,421 3,120,435
Grants received 146,812 $ 143,987
Grants repaid (33,174)  
Deferred grant income 48,831  
Net Cash Provided By Financing Activities 11,415,890 $ 3,264,422
Effect of foreign exchange on cash 10,084 (13,621)
Increase in Cash 7,170,385 919,567
Cash - Beginning of Period 2,138,964 888,704
Cash - End of Period $ 9,309,349 $ 1,808,271
Supplemental Disclosures of Cash Flow Information    
Interest paid    
Income tax paid    
Non Cash Financing Activities:    
Reduction in Derivative Liability $ 1,237,896  
Capital lease obligation for equipment purchases $ 610,674