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 ($)
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating Activities    
Net Loss $ (13,721,146) $ (10,706,325)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 474,536 371,362
Loss on disposal of property and equipment 1,766 11,262
Stock based compensation 1,875,507 1,827,604
Warrants issued for services 6,453 38,806
Changes in operating assets and liabilities:    
Deferred grant income (50,855)
Prepaid expenses (204,673) (75,723)
Other current assets 202,290 12,749
Accounts payable and accrued liabilities 261,383 264,266
Net Cash Used In Operating Activities (11,103,884) (8,306,854)
Investing Activities:    
Purchases of property and equipment (183,541) (1,340,230)
Net Cash Used in Investing Activities (183,541) (1,340,230)
Financing Activities:    
Net proceeds from issuance of common shares 16,796,000 998,412
Proceeds from grants repayable 177,079
Proceeds from long-term debt 875,418 908,075
Payments from long-term debt (369,915) (29,807)
Payments on grants repayable (40,864) (38,487)
Payments on capital lease obligations (103,999) (94,227)
Net Cash Provided By Financing Activities 17,333,719 1,743,966
Effect of foreign exchange on cash 211,871 65,314
Net Change in Cash 6,258,165 (7,837,804)
Cash and cash equivalents - Beginning of Period 10,116,263 21,678,734
Cash and cash equivalents - End of Period 16,374,428 13,840,930
Supplemental Disclosures of Cash Flow Information:    
Interest paid 78,845 50,234
Income tax paid
Non-Cash Financing Activities:    
Common Stock issued on cashless exercises of stock options 12
Offering costs from stock issuances $ 604,000