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 ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating Activities    
Net loss $ (6,813,671) $ (5,441,994)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 225,740 151,780
Loss on disposal of property & equipment 1,929
Stock based compensation 1,220,798 579,506
Warrants issued for services 28,482 (112,615)
Non-operating income – grants received (25,891)
Changes in operating assets and liabilities:    
Prepaid expenses (131,526) (57,362)
Other current assets 31,560 (68,253)
Accounts payable and accrued liabilities (46,685) 416,362
Net Cash Used In Operating Activities (5,483,373) (4,558,467)
Investing Activities    
Purchases of property and equipment (1,234,892) (68,382)
Net Cash Used in Investing Activities (1,234,892) (68,382)
Financing Activities    
Net proceeds from issuance of common shares 879,412 13,313,795
Proceeds from debt payable 664,573
Grants received 25,891
Grants repaid (38,487) (36,135)
Payments on capital lease obligations (60,874) (41,358)
Net Cash Provided By Financing Activities 1,444,624 13,262,193
Effect of foreign exchange on cash 100,117 (51,056)
(Decrease)/Increase in Cash (5,173,524) 8,584,288
Cash and cash equivalents - Beginning of Period 21,678,734 5,916,006
Cash and cash equivalents - End of Period 16,505,210 14,500,294
Supplemental Disclosures of Cash Flow Information    
Interest paid 32,639 6,897
Income tax paid
Non Cash Investing and Financing Activities:    
Common stock issued on cashless exercises of stock options $ 21