Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating Activities    
Net loss $ (10,706,325) $ (8,921,134)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 371,362 230,606
Loss on disposal of property and equipment 11,262 3,668
Stock based compensation 1,827,604 1,106,623
Warrants issued for services 38,806 105,995
Changes in operating assets and liabilities:    
Accounts receivable (12,356)
Deferred grant income (50,855) (335)
Prepaid expenses (75,723) (35,283)
Other current assets 25,105 (36,456)
Accounts payable and accrued liabilities 264,266 872,934
Net Cash Used In Operating Activities (8,306,854) (6,673,382)
Investing Activities    
Purchases of property and equipment (1,340,230) (89,433)
Net Cash Used in Investing Activities (1,340,230) (89,433)
Financing Activities    
Net proceeds from issuance of common shares 998,412 13,506,295
Proceeds from debt payable 908,075
Debt repaid (29,807)
Grants repaid (38,487) (36,135)
Payments on capital lease obligations (94,227) (62,225)
Net Cash Provided By Financing Activities 1,743,966 13,407,935
Effect of foreign exchange on cash 65,314 (33,343)
(Decrease)/Increase in Cash (7,837,804) 6,611,777
Cash and cash equivalents - Beginning of Period 21,678,734 5,916,006
Cash and cash equivalents - End of Period 13,840,930 12,527,783
Supplemental Disclosures of Cash Flow Information    
Interest paid 50,234 9,159
Income tax paid
Non Cash Investing and Financing Activities:    
Common stock issued on cashless exercises of stock options 21
Capital lease obligation for equipment purchases $ 329,334