Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (17,822,142) $ (6,536,963)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 829,541 118,062
Loss on disposal of fixed assets 0 (4,155)
Stock-based compensation 514,784 235,877
Amortization of debt discount 255,847 190,253
Amortization of license revenue (35,708) (35,708)
Changes in operating assets and liabilities, net of acquisition:    
Accounts receivable 222,552 178,089
Inventories 189,379 (288,346)
Prepaid expenses and other current assets (652,474) (432,932)
Other assets (29,515) (2,400)
Accounts payable (202,754) 1,339,764
Accrued expenses 88,640 (160,637)
Other current and non-current liabilities 207,736 (7,640)
Net cash used in operating activities (16,434,114) (5,398,426)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of short-term investments 0 5,145,184
Purchase of property and equipment (549,246) (3,584)
Net cash provided by (used in) investing activities (549,246) 5,141,600
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments on note payable 0 (1,111,111)
Payments of leasehold improvement loan (4,377) (4,002)
Net cash provided by financing activities (4,377) (1,115,113)
Net decrease in cash and cash equivalents (16,987,737) (1,371,939)
Cash and cash equivalents, including restricted cash - beginning of period 48,607,574 9,914,867
Cash and cash equivalents, including restricted cash - end of period $ 31,619,837 $ 8,542,928