v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (48,279,317) $ (65,743,445)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,258,148 3,446,398
Loss on disposal of fixed assets 207,071 122,190
Stock-based compensation 2,650,777 2,223,288
Amortization of debt discount 1,180,348 1,104,161
Loss on extinguishment of debt 9,962,495 0
Gain on transfer of plasma center asset (11,527,421) 0
Amortization of license revenue (142,834) (142,834)
Changes in operating assets and liabilities:    
Accounts receivable (2,077,478) 2,487,713
Inventories (34,650,132) (5,987,988)
Prepaid expenses and other current assets (773,174) (540,509)
Deposits and other assets 107,974 (208,594)
Accounts payable 3,274,200 (20,480)
Accrued expenses 806,353 406,984
Other current and non-current liabilities (190,514) 174,434
Net cash used in operating activities (76,193,504) (62,678,682)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (3,811,838) (2,095,600)
Net cash (used in) provided by investing activities (3,811,838) (2,095,600)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments on note payable (30,000,000) 0
Payment of end of term fee (2,760,000) 0
Proceeds from issuance of common stock, net of offering expenses 48,397,088 42,944,831
Proceeds from the exercise of stock options 75,048 13,007
Payment of debt refinancing fees (6,499,867) 0
Proceeds from issuance of note payable 72,500,000 0
Payment of debt issuance costs (1,679,661) 0
Payments on finance lease obligations (29,983) (16,581)
Payments of leasehold improvement loan 0 (19,697)
Net cash provided by financing activities 80,002,625 42,921,560
Net (decrease) increase in cash and cash equivalents (2,717) (21,852,722)
Cash and cash equivalents, including restricted cash - beginning of year 26,754,852 48,607,574
Cash and cash equivalents, including restricted cash - end of year $ 26,752,135 $ 26,754,852

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