Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net loss $ (7,920,606) $ (4,380,012)
Adjustments to reconcile net loss from operations to cash used by operations:    
Depreciation 143,142 93,469
Stock based compensation 327,262 233,057
Write down of inventory 78,917
Effects of changes in operating assets and liabilities:    
Accounts receivable (349,300) (20,000)
Inventory (2,602,652)
Prepaid expenses and deposits (1,278,374) (94,808)
Accounts payable (1,278,532) 908,671
Accounts payable, related parties (77,242) (213,618)
Net cash used by operations (13,036,302) (3,394,324)
Cash flows from investing activities:    
Capital expenditures (35,883) (28,899)
Proceeds from lease receivable 110,718
Net cash used by investing activities 74,835 (28,899)
Cash flows from financing activities:    
Payments on long-term debt (4,788) (2,722,500)
Shareholder advances, net of repayments 1,575,500
Issuance of common stock 22,485,999
Exercise of warrants and options 251,581 2,110,000
Net cash provided by financing activities 22,732,792 963,000
Change in cash and cash equivalents 9,771,325 (2,460,223)
Cash at the beginning of the period 469,570 7,677,163
Cash at the end of the period $ 10,240,895 $ 5,216,940