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 ($)
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net loss $ (14,774,392) $ (8,213,793)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 366 331
Stock-based compensation expense 171,493 229,609
Change in fair value of derivative liabilities 12,820,618 (977,493)
Fair value of derivative liabilities in excess of proceeds 322,644 7,174,634
Loss on extinguishment of secured convertible promissory note - related party   590,392
Amortization of debt discount 56,952 34,608
Changes in assets and liabilities:    
Prepaid expenses (208,619) 85,111
Accounts payable 152,684 (2,164)
Accounts payable to related party   100,000
Accrued payroll and related expenses (9,550) (8,808)
Accrued expenses 36,684 (65,589)
Net cash used in operating activities (1,431,120) (1,053,162)
Cash flows from investing activities:    
Purchases of property and equipment   (1,059)
Net cash used in investing activities   (1,059)
Cash flows from financing activities:    
Proceeds from Common stock issuance, net of $9,122 issuance costs   3,240,878
Proceeds from Series B warrant exercises   98,700
Proceeds from secured convertible promissory note - related party   400,000
Proceeds from convertible multi-draw credit agreement, net of $9,301 issuance costs 3,990,699  
Net cash provided by financing activities 3,990,699 3,739,578
Net increase in cash, cash equivalents and restricted cash 2,559,579 2,685,357
Cash, cash equivalents and restricted cash, beginning of period 1,857,885 264,383
Cash, cash equivalents and restricted cash, end of period 4,417,464 2,949,740
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 4,412,952 2,945,312
Restricted cash 4,512 4,428
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows 4,417,464 2,949,740
Cash paid during the period for:    
Interest 59,111  
Income taxes 0 0
Supplemental disclosures of non-cash financing activities:    
Conversion of outstanding preferred stock into common stock   1,947,227
Conversion of outstanding preferred stock subject to redemption into common stock   828,916
Reclassification of warrant liabilities to equity from exercise of warrants   1,223,991
Fair value of common stock issued in extinguishment of convertible debt   1,710,000
Fair value of warrants issued in connection with financings   $ 10,424,634
Proceeds allocated to equity classified warrants issued with convertible multi-draw credit agreement 716,110  
Fair value of compound derivative liability bifurcated from convertible multi-draw credit agreement 193,414  
Beneficial conversion feature on convertible multi-draw credit agreement $ 1,584,850