Condensed Statements of Cash Flows - USD ($)
|
3 Months Ended |
9 Months Ended |
12 Months Ended |
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
Dec. 31, 2017 |
| Cash flows from operating activities |
|
|
|
|
|
| Net loss |
$ (775,930)
|
$ (2,451,315)
|
$ (21,147,226)
|
$ (9,229,513)
|
$ (11,605,817)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
| Share-based compensation |
|
|
5,055,000
|
4,749,834
|
|
| Accrued interest on note payable |
|
|
150,000
|
0
|
|
| Accrued interest on convertible promissory notes |
|
|
25,578
|
252,464
|
|
| Amortization of debt discount |
900,000
|
|
2,060,000
|
29,174
|
|
| Depreciation |
|
|
14,417
|
2,522
|
|
| Beneficial conversion feature |
|
|
3,077,887
|
0
|
|
| Changes in operating assets and liabilities: |
|
|
|
|
|
| Prepaid expenses and other assets |
|
|
(363,738)
|
(40,443)
|
|
| Accounts payable |
|
|
(754,435)
|
1,067,247
|
|
| Accrued expenses |
|
|
(878,181)
|
3,311
|
|
| Net cash used in operating activities |
|
|
(12,760,698)
|
(3,165,404)
|
|
| Cash flows from investing activities |
|
|
|
|
|
| Purchase of property and equipment |
|
|
(13,943)
|
(1,600)
|
|
| Loan payments from related party |
|
|
75,000
|
0
|
|
| Net cash provided by (used in) investing activities |
|
|
61,057
|
(1,600)
|
|
| Cash flows from financing activities |
|
|
|
|
|
| Borrowings from note payable |
|
|
3,000,000
|
0
|
|
| Payments of note payable issuance costs |
|
|
(20,000)
|
0
|
|
| Borrowings from convertible promissory notes |
|
|
345,000
|
4,284,999
|
|
| Principal payments of convertible promissory notes |
|
|
(275,000)
|
0
|
|
| Proceeds from issuance of common stock and warrants |
|
|
18,132,661
|
0
|
|
| Payment of stock issuance costs |
|
|
(1,495,284)
|
0
|
|
| Payment of deferred offering costs |
|
|
(159,795)
|
0
|
|
| Proceeds from exercise of warrants |
|
|
928,178
|
0
|
|
| Payment of stock subscription receivable |
|
|
0
|
25
|
|
| Net cash provided by financing activities |
|
|
20,455,760
|
4,285,024
|
|
| Net increase in cash and cash equivalents |
|
|
7,756,119
|
1,118,020
|
|
| Cash and cash equivalents as of beginning of period |
|
|
355,563
|
360,811
|
360,811
|
| Cash and cash equivalents as of end of period |
$ 8,111,682
|
$ 1,478,831
|
8,111,682
|
1,478,831
|
$ 355,563
|
| Supplemental disclosure of cash flow information |
|
|
|
|
|
| Cash paid during the period for interest |
|
|
280,287
|
0
|
|
| Supplemental disclosure of noncash financing activities |
|
|
|
|
|
| Conversion of convertible notes and accrued interest to common stock |
|
|
9,229,819
|
0
|
|
| Assumption of liabilities from reverse recapitalization transaction |
|
|
978,674
|
0
|
|
| Warrants issued to placement agents |
|
|
913,000
|
0
|
|
| Commissions owed and accrued for exercise of warrants |
|
|
$ 87,152
|
$ 0
|
|