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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net loss $ (7,159,464) $ (15,316,292)
Adjustments to reconcile net loss to net cash used by operating activities:    
Non-cash compensation 994,981 1,006,960
Depreciation and amortization 494,996 414,115
Amortization of debt costs 107,604 79,338
Bad debt recoveries (77,636) (44,186)
Stock-based compensation 2,863,805 1,174,755
Foreign currency transaction (gain) loss (1,416,577) 1,051,854
Changes in operating assets and liabilities:    
Grants and accounts receivable (1,083,938) 408,783
Inventories 128,727 (964,478)
Prepaid expenses and other current assets 1,104,461 (43,645)
Other assets 0 4,047
Accounts payable and accrued expenses (512,439) (405,820)
Net cash used by operating activities (4,555,480) (12,634,569)
Cash flows from investing activities:    
Purchases of property and equipment (546,389) (557,411)
Payments for patent costs (863,693) (559,483)
Net cash used by investing activities (1,410,082) (1,116,894)
Cash flows from financing activities:    
Equity contributions-net of fees 80,214,008 0
Fees related to equity facility 0 (87,881)
Proceeds from long-term debt 1,410,900 5,000,000
Repayment of long-term debt (1,410,900) 0
Payment of debt acquisition costs 0 (4,212)
Proceeds from exercise of stock options 1,282,262 728,507
Proceeds from exercise of warrants 0 1,768,491
Net cash provided by financing activities 81,496,270 7,404,905
Effect of exchange rates on cash 215,217 (44,336)
Net change in cash and cash equivalents 75,745,925 (6,390,894)
Cash and cash equivalents - beginning of period 12,232,418 22,368,837
Cash and cash equivalents - end of period 87,978,343 15,977,943
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 883,857 732,537
Supplemental disclosure of non-cash financing activities    
Settlement of accrued bonuses with restricted stock units $ 657,780 $ 425,639