Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

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Condensed Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities    
Net loss $ (5,597,342) $ (3,636,259)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 2,794 2,621
Stock based compensation 390,682 543,161
Settlement of accounts payable (893,823)
Changes in operating assets and liabilities:    
Prepaid expenses (371,137) (189,651)
Accounts payable 17,512 195,564
Accrued expenses 79,970 (547,214)
Other liabilities (908) 794
Net cash used in operating activities (6,372,252) (3,630,984)
Cash flows from investing activities    
Purchase of property and equipment (2,008)
Net cash used in investing activities (2,008)
Cash flows from financing activities    
Proceeds from the issuance of shares from common stock purchase agreement 2,000,000
Payout to shareholders for fractional shares (3,256)
Net cash provided by (used in) financing activities (3,256) 2,000,000
Net decrease in cash and cash equivalents (6,377,516) (1,630,984)
Cash and cash equivalents at beginning of period 22,631,971 7,046,282
Cash and cash equivalents at end of period 16,254,455 5,415,298
Supplemental disclosure of non-cash financing activities:    
Conversion of preferred stock to common stock 886,553
Shares issued as a commitment fee 93,380
Cash paid for taxes $ 800