Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net loss $ (16,225,000) $ (8,464,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 71,000 48,000
Stock-based compensation expense 1,430,000 85,000
Amortization of debt discount 282,000 9,000
Change in common stock warrant fair value 269,000 (2,000)
Loss on conversion of notes 4,719,000 0
Loss on disposal of equipment 0 2,000
Changes in operating assets and liabilities:    
Accounts receivable (38,000) (250,000)
Prepaid expenses and other assets (280,000) 101,000
Long term deposits (57,000) 0
Accounts payable 2,618,000 (26,000)
Accrued liabilities (1,003,000) 576,000
Deferred rent 145,000 0
Deferred revenue 1,715,000 (276,000)
Net cash used in operating activities (6,354,000) (8,197,000)
Cash flows from investing activities:    
Cash received from merger transaction 11,216,000 0
Purchases of property and equipment (287,000) (25,000)
Increase in leasehold improvements (82,000) 0
Increase in intangible assets (400,000) (371,000)
Net cash provided by (used in) investing activities 10,447,000 (396,000)
Cash flows from financing activities:    
Payments of capital lease obligations (35,000) (21,000)
Proceeds from issuance of long-term debt 0 3,000,000
Repayment of long-term debt (1,800,000) 0
Retirement of stock warrants (208,000) 0
Proceeds from issuance of related party debt 2,685,000 3,000,000
Proceeds from stock option exercise 14,000 0
Proceeds from promissory note 4,000,000 0
Proceeds from issuance of common stock and warrants, net of offering expenses 57,716,000 1,000
Net cash provided by financing activities 62,372,000 5,980,000
Net increase (decrease) in cash and cash equivalents 66,465,000 (2,613,000)
Cash and cash equivalents, beginning of period 1,716,000 4,245,000
Cash and cash equivalents, end of period 68,181,000 1,632,000
Supplemental Cash Flow Information    
Cash paid for interest 194,000 159,000
Non-Cash Investing and Financing Activities    
Deemed dividends on preferred stock 958,000 1,179,000
Conversion of preferred stock 26,830,000 0
Conversion of related party debt 10,486,000 0
Capital lease additions to fixed assets 57,000 50,000
Fixed asset additions in accounts payable 274,000 0
Warrants issued with debt $ 0 $ 18,000