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Liquidity and Financial Condition
9 Months Ended
Sep. 30, 2016
Liquidity [Abstract]  
Liquidity and Financial Condition [Text Block]
2. Liquidity and Financial Condition
 
For the three and nine months ended September 30, 2016, the Company recognized net losses of $29.2 million and $49.5 million, respectively.
 
During the three and nine months ended September 30, 2016, the Company used approximately $9.8 million and $41.6 million of cash in its operating activities respectively.
 
These cash outflows included substantial amounts of accrued costs relating to prior periods of higher activity and expenditures in the Company’s Phase III clinical trial which have subsequently been reduced, and included substantial amounts of legal costs which the Company anticipates may be subject to reimbursement under the Company’s insurance, with further legal expenses going forward being covered by insurance directly. The Company had current assets of $2.3 million, accounts payable of $13.3 million and accounts payable to related party of $11.8 million, convertible notes, net of $10.9 million and mortgage loans, net of $10.1 million.
 
Because of recurring operating losses, net operating cash flow deficits, and an accumulated deficit there is substantial doubt about the Company’s ability to continue as a going concern. The financial statements have been prepared assuming the Company will continue as a going concern and do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that might become necessary should the Company not be able to continue as a going concern.