Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Operating Activities    
Net loss $ (14,769,207) $ (11,905,278)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 528,166 309,406
Loss on disposal of property & equipment 38,941 3,668
Stock based compensation 2,435,088 1,678,748
Warrants issued for services 54,510 164,173
Changes in operating assets and liabilities:    
Prepaid expenses (82,733) (13,168)
Deferred grant income (50,855) (170,343)
Other current assets (7,486) (22,859)
Accounts payable and accrued liabilities (339,662) 1,090,942
Net Cash Used In Operating Activities (12,193,238) (8,864,711)
Investing Activities    
Purchases of property and equipment (1,425,215) (415,091)
Net Cash Used in Investing Activities (1,425,215) (415,091)
Financing Activities    
Net proceeds from issuance of common shares 998,413 25,302,274
Proceeds from debt payable 1,201,980 474,769
Grants repaid (45,422) (36,135)
Loans repaid (52,420)
Payments on capital lease obligations (135,597) (552,534)
Net Cash Provided By Financing Activities 1,966,954 25,188,374
Effect of foreign exchange on cash and cash equivalents 89,028 (145,844)
Net change in cash and cash equivalents (11,562,471) 15,762,728
Cash and cash equivalents - Beginning of Period 21,678,734 5,916,006
Cash and cash equivalents - End of Period 10,116,263 21,678,734
Supplemental Disclosures of Cash Flow Information    
Interest paid 73,133 20,378
Income tax paid
Non Cash Financing Activities:    
Common stock issued on cashless exercises of stock options 1 54
Capital lease obligation for equipment purchases $ 1,008,826