Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating Activities    
Net loss $ (3,350,683) $ (2,492,628)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 93,277 72,243
Loss on disposal of property & equipment 1,929
Stock based compensation 584,261 152,657
Warrants issued for services 9,945 (71,647)
Changes in operating assets and liabilities:    
Prepaid expenses (178,011) (102,934)
Other current assets 3,151 (5,376)
Accounts payable and accrued liabilities 166,243 286,250
Net Cash Used In Operating Activities (2,669,888) (2,161,435)
Investing Activities    
Purchases of property and equipment (874,891)
Net Cash Used in Investing Activities (874,891)
Financing Activities    
Net proceeds from issuance of common shares 43,300 13,257,030
Proceeds from debt payable 287,648
Payments on capital lease obligations (29,858) (20,370)
Net Cash Provided By Financing Activities 301,090 13,236,660
Effect of foreign exchange on cash 37,919 16,231
Net Change in Cash (3,205,770) 11,091,456
Cash and cash equivalents - Beginning of Period 21,678,734 5,916,006
Cash and cash equivalents - End of Period 18,472,964 17,007,462
Supplemental Disclosures of Cash Flow Information    
Interest paid 12,205 2,364
Income tax paid
Non Cash Financing Activities:    
Capital lease obligation for equipment purchases $ 994,825 $ 375,932