Statements of Cash Flows - USD ($)
|
12 Months Ended |
Dec. 31, 2016 |
Dec. 31, 2015 |
| Operating activities: |
|
|
| Net loss |
$ (7,000,217)
|
$ (3,949,585)
|
| Adjustments to reconcile net loss to net cash flows from operating activities: |
|
|
| Stock-based compensation |
3,563,675
|
1,721,485
|
| Changes in assets and liabilities: |
|
|
| Prepaid expenses and other assets |
(168,259)
|
(186,597)
|
| Accounts payable and current liabilities |
(153,747)
|
150,981
|
| Net cash flows used in operating activities |
(3,758,548)
|
(2,263,716)
|
| Financing activities: |
|
|
| Proceeds from sale of common stock and common stock warrants |
2,664,900
|
|
| Proceeds from sale of common stock and common stock warrants, related party |
2,836,424
|
2,500,000
|
| Proceeds from exercise of common stock warrants |
558,000
|
|
| Proceeds from exercise of common stock warrants, related party |
3,983,201
|
|
| Net cash flows from financing activities |
10,042,525
|
2,500,000
|
| Net increase in cash and cash equivalents |
6,283,977
|
236,284
|
| Cash and cash equivalents at beginning of year |
601,445
|
365,161
|
| Cash and cash equivalents at end of year |
6,885,422
|
601,445
|
| Cash paid for interest |
$ 0
|
0
|
| Supplemental disclosure of non-cash financing activities: |
|
|
| Issuance of common stock in payment of trade payables |
|
$ 90,000
|