Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating Activities    
Net loss $ (4,203,773) $ (4,652,421)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 179,848 156,362
Stock based compensation 338,331 895,226
Warrants issued for services 2,127 2,199
Financing costs for warrants modified 196,957
Changes in operating assets and liabilities:    
Deferred grant income
Prepaid expenses (412,643) (192,323)
Other current assets (17,745) (155,521)
Accounts payable and accrued liabilities 277,441 439,943
Right-of-use operating lease liabilities (11,440)
Net Cash Used In Operating Activities (3,650,897) (3,506,535)
Investing Activities:    
Purchases of property and equipment (112,102) (60,658)
Net Cash Used in Investing Activities (112,102) (60,658)
Financing Activities:    
Net proceeds from issuance of common shares 6,660,671 7,796,000
Proceeds from grants received 32,652
Payments on long term debt (87,577) (35,926)
Payments on finance lease obligations (35,678) (35,243)
Net Cash Provided By Financing Activities 6,570,068 7,724,831
Effect of foreign exchange on cash (68,019) (13,619)
Net Change in Cash 2,739,050 4,144,019
Cash and cash equivalents – Beginning of Period 13,427,222 10,116,263
Cash and cash equivalents – End of Period 16,166,272 14,260,282
Supplemental Disclosures of Cash Flow Information :    
Interest paid 30,101 22,982
Income tax paid
Non Cash Financing Activities:    
Common stock issued on cashless exercises of stock options $ 12