CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
|
3 Months Ended |
9 Months Ended |
12 Months Ended |
|
|
|
|
|
Sep. 30, 2019 |
Mar. 31, 2019 |
Sep. 30, 2018 |
Mar. 31, 2018 |
Sep. 30, 2019 |
Sep. 30, 2018 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Sep. 30, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
| Cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
|
$ (4,931,125)
|
$ (14,774,392)
|
$ (2,096,349)
|
$ (8,213,793)
|
$ (3,800,227)
|
$ (12,972,142)
|
$ (19,194,236)
|
|
$ (3,094,298)
|
|
|
|
|
|
|
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation |
|
|
|
|
|
1,096
|
1,178
|
1,544
|
|
8,039
|
|
|
|
|
|
|
|
| Loss on disposal of assets |
|
|
|
|
|
|
804
|
803
|
|
1,788
|
|
|
|
|
|
|
|
| Fixed assets provided to university in lieu of cash |
|
|
|
|
|
|
|
|
|
18,004
|
|
|
|
|
|
|
|
| Stock-based compensation expense |
|
170,106
|
|
154,508
|
|
514,683
|
484,720
|
674,961
|
|
608,676
|
|
|
|
|
|
|
|
| Amortization of warrants and stock issued for services |
[1] |
|
|
|
|
|
|
|
|
30,000
|
|
|
|
|
|
|
|
| Change in fair value of derivative liabilities |
|
|
|
|
|
(2,024,660)
|
1,653,477
|
6,503,174
|
|
(767,198)
|
|
|
|
|
|
|
|
| Fair value of derivative liabilities in excess of proceeds |
|
|
|
|
|
322,644
|
7,174,634
|
|
|
|
|
|
|
|
|
|
|
| Fair value of warrant liability in excess of proceeds |
|
|
|
|
|
|
|
7,174,634
|
|
|
|
|
|
|
|
|
|
| Financing transaction costs |
|
|
|
|
|
|
(137,192)
|
(137,192)
|
|
|
|
|
|
|
|
|
|
| Loss on common stock issuance from conversion of accrued interest |
|
|
|
|
|
|
|
9,794
|
|
|
|
|
|
|
|
|
|
| Loss on extinguishment of secured convertible promissory note - related party |
|
|
|
|
|
|
590,392
|
590,392
|
|
|
|
|
|
|
|
|
|
| Amortization of debt discount |
|
|
|
|
|
438,964
|
34,608
|
58,536
|
|
|
|
|
|
|
|
|
|
| Common stock issued for services |
|
|
|
|
|
|
|
|
|
187,550
|
|
|
|
|
|
|
|
| Changes in assets and liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Prepaid expenses |
|
|
|
|
|
(302,248)
|
194,906
|
198,235
|
[1] |
(121,273)
|
[1] |
|
|
|
|
|
|
| Deposits and other assets |
|
|
|
|
|
|
|
|
|
34,290
|
|
|
|
|
|
|
|
| Other current assets |
|
|
|
|
|
(766)
|
(2,609)
|
(2,609)
|
|
7,014
|
|
|
|
|
|
|
|
| Accounts payable |
|
|
|
|
|
191,333
|
(55,418)
|
(85,324)
|
|
(173,729)
|
|
|
|
|
|
|
|
| Accounts payable to related party |
|
|
|
|
|
|
15,000
|
|
|
|
|
|
|
|
|
|
|
| Accrued payroll and related expenses |
|
|
|
|
|
|
|
11,701
|
|
(112,825)
|
|
|
|
|
|
|
|
| Accrued expenses |
|
|
|
|
|
|
|
(21,811)
|
|
42,677
|
|
|
|
|
|
|
|
| Other current liabilities |
|
|
|
|
|
134,469
|
(48,407)
|
|
|
|
|
|
|
|
|
|
|
| Net cash used in operating activities |
|
|
|
|
|
(4,524,712)
|
(2,928,857)
|
(3,943,014)
|
|
(3,331,285)
|
|
|
|
|
|
|
|
| Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Purchases of property and equipment |
|
|
|
|
|
|
(4,385)
|
(4,385)
|
|
(19,654)
|
|
|
|
|
|
|
|
| Net cash used in investing activities |
|
|
|
|
|
|
(4,385)
|
(4,385)
|
|
(19,654)
|
|
|
|
|
|
|
|
| Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from Common stock issuance, net of $16,901 issuance costs |
|
|
|
|
|
|
3,233,099
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from Emerald Financing, net of $154,092 issuance costs |
|
|
|
|
|
|
|
3,095,908
|
|
|
|
|
|
|
|
|
|
| Proceeds from Series B warrant exercises |
|
|
|
|
|
|
98,700
|
98,700
|
|
|
|
|
|
|
|
|
|
| Proceeds from secured convertible promissory note - related party |
|
|
|
|
|
|
400,000
|
400,000
|
|
500,000
|
|
|
|
|
|
|
|
| Proceeds from convertible multi-draw credit agreement, net of $9,301 for nine months ended 30 Sep 2019 and $53,707 for the year ended 31 Dec 2018 issuance costs |
|
|
|
|
|
3,990,699
|
|
1,946,293
|
|
|
|
|
|
|
|
|
|
| Net cash provided by financing activities |
|
|
|
|
|
3,990,699
|
3,731,799
|
5,540,901
|
|
3,513,002
|
|
|
|
|
|
|
|
| Net (decrease) increase in cash and restricted cash |
|
|
|
|
|
(534,013)
|
798,557
|
1,593,502
|
|
162,063
|
|
|
|
|
|
|
|
| Cash, cash equivalents and restricted cash, beginning of period |
|
|
1,857,885
|
|
264,383
|
1,857,885
|
264,383
|
264,383
|
|
102,320
|
|
|
|
|
|
|
|
| Cash, cash equivalents and restricted cash, end of period |
|
1,323,872
|
|
1,062,940
|
|
1,323,872
|
1,062,940
|
1,857,885
|
|
264,383
|
|
102,320
|
|
|
|
|
|
| Reconciliation of cash and restricted cash: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash and cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
$ 1,319,360
|
$ 1,853,373
|
$ 1,058,438
|
$ 259,955
|
|
| Restricted cash |
|
|
|
|
|
|
|
|
|
|
|
|
4,512
|
4,512
|
4,502
|
4,428
|
|
| Total cash and restricted cash shown in the condensed consolidated statements of cash flows |
|
$ 1,323,872
|
$ 1,857,885
|
$ 1,062,940
|
$ 264,383
|
1,323,872
|
1,062,940
|
1,857,885
|
|
264,383
|
|
$ 102,320
|
$ 1,323,872
|
$ 1,857,885
|
$ 1,062,940
|
$ 264,383
|
$ 102,320
|
| Cash paid during the period for |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest |
|
|
|
|
|
272,611
|
|
23,334
|
|
|
|
|
|
|
|
|
|
| Income taxes |
|
|
|
|
|
1,600
|
1,642
|
1,642
|
|
1,631
|
|
|
|
|
|
|
|
| Supplemental disclosures of non-cash financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Conversion of outstanding preferred stock into common stock |
|
|
|
|
|
|
1,947,227
|
1,947,228
|
|
1,386,000
|
|
|
|
|
|
|
|
| Conversion of outstanding preferred stock subject to redemption into common stock |
|
|
|
|
|
|
828,916
|
828,915
|
|
1,197,450
|
|
|
|
|
|
|
|
| Fair value of warrants issued in connection with financings |
|
|
|
|
|
|
10,424,634
|
10,424,634
|
|
|
|
|
|
|
|
|
|
| Fair value of common stock issued in extinguishment of convertible debt and accrued interest |
|
|
|
|
|
|
1,710,000
|
1,713,766
|
|
|
|
|
|
|
|
|
|
| Proceeds allocated to equity classified warrants issued with convertible multi-draw credit agreement |
|
|
|
|
|
716,110
|
|
315,080
|
|
|
|
|
|
|
|
|
|
| Reclassification of warrant liabilities to equity from exercise of warrants |
|
|
|
|
|
144,375
|
$ 1,333,866
|
1,539,866
|
|
|
|
|
|
|
|
|
|
| Fair value of compound derivative liability issued with convertible multi-draw credit agreement |
|
|
|
|
|
193,414
|
|
204,102
|
|
|
|
|
|
|
|
|
|
| Beneficial conversion feature on convertible multi-draw credit agreement |
|
|
|
|
|
$ 1,584,850
|
|
$ 90,080
|
|
|
|
|
|
|
|
|
|
| Series D Preferred Stock |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from Issuance of Preferred Stock and Preference Stock |
[2] |
|
|
|
|
|
|
|
|
1,131,857
|
|
|
|
|
|
|
|
| Series F Preferred stock |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from Issuance of Preferred Stock and Preference Stock |
|
|
|
|
|
|
|
|
|
$ 1,881,145
|
|
|
|
|
|
|
|
|
|