General form of registration statement for all companies including face-amount certificate companies

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended 12 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:        
Net loss $ (2,466,114) $ (2,057,625) $ (3,178,093) $ (4,841,161)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation 6,801 11,505 14,916 9,953
Loss on disposal of fixed assets 138      
Stock-based compensation expense 456,507 544,823 706,368 414,343
Amortization of warrants and stock issued for services 20,000 [1] 51,539 [1] 51,538 [2],[3] 585,111 [2],[3]
Change in fair value of conversion rights of preferred stock (88,532) 82,872    
Change in fair value of warrant liability (320,495) (1,584,969) (1,342,651) (481,610)
Warrant issued for services     55,900  
Common stock issued for services 187,550   50,000  
Changes in assets and liabilities:        
Restricted cash 33,072     (37,500)
Prepaid expenses (73,326) [1] (119,361) [1] (40,323) [2] (65,341) [2]
Deposits and other assets     9,594 (25,290)
Other current assets 831 7,500 29,112 454
Accounts payable 715,473 262,016 149,293 [3] (274,142) [3]
Accrued payroll and related expenses 278,161 25,534 121,069 702
Accrued license and patent reimbursement fees 80,893 (17,500) (97,500) (21,928)
Stock subscription liability       (100,000)
Accrued expenses and other liabilities 14,342 (96,497) (130,728) 104,475
Net cash used in operating activities (1,154,699) (2,890,163) (3,552,941) (3,727,989)
Cash flows from investing activities:        
Purchases of property and equipment   (11,116) (11,117) (1,982)
Net cash used in investing activities   (11,116) (11,117) (1,982)
Cash flows from financing activities:        
Proceeds from common stock issuance, net of $3,920 issuance costs       721,021
Proceeds from preferred stock issuance 1,131,857      
Net cash provided by financing activities 1,131,857   407,669 6,743,850
Net increase (decrease) in cash and cash equivalents (22,842) (2,901,279) (3,156,389) 3,013,879
Cash and cash equivalents, beginning of period 64,820 3,221,209 3,221,209 207,330
Cash and cash equivalents, end of period 41,978 319,930 64,820 3,221,209
Cash paid during the period for:        
Interest 0 $ 0 0 0
Income taxes $ 1,631     1,716
Supplemental disclosures of non-cash financing activities:        
Conversion of outstanding preferred stock into common stock     114,000 1,450,000
Conversion of outstanding preferred stock subject to redemption into common stock     469,000 580,000
Series A Preferred stock        
Adjustments to reconcile net loss to net cash used in operating activities:        
Change in fair value of conversion rights of preferred stock     0 986,000
Cash flows from financing activities:        
Proceeds from preferred stock issuance     0 1,430,300
Series B Preferred Stock        
Adjustments to reconcile net loss to net cash used in operating activities:        
Change in fair value of conversion rights of preferred stock     48,564 17,945
Cash flows from financing activities:        
Proceeds from preferred stock issuance     0 4,592,529
Series C Preferred Stock        
Cash flows from financing activities:        
Proceeds from preferred stock issuance     $ 407,669 [4] $ 0
[1] During the nine months ended September 30, 2016, warrants issued to service providers for consulting services were valued at $22,245 and were recorded as Prepaid expenses and are being amortized over the service period. During the nine months ended September 30, 2017, warrants issued to service providers for consulting services were valued at $30,000 and were recorded as Prepaid expenses and are being amortized over the service period.
[2] During the year ended December 31, 2015, the Company issued warrants of our common stock for consulting services. The warrants were valued at $446,225 and were recorded as a Prepaid expense and was amortized over the service period. During the year ended December 31, 2015, the Company issued shares of common stock for consulting services valued at $168,000. Such amounts were recorded as a Prepaid expense and was amortized over the service period. During the year ended December 31, 2016, warrants issued to service providers for consulting services were valued at $22,425 and recorded as a Prepaid expense and was amortized over the service period.
[3] During the year ended December 31, 2015, the Company issued warrants of our common stock to a service provider in exchange for extinguishment of $10,000 of trade accounts payable owed to this vendor.
[4] During the year ended December 31, 2016 a preferred deemed dividend of $325,000 was recognized.