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Liquidity
6 Months Ended
Jun. 30, 2018
Liquidity [Abstract]  
Liquidity

2. Liquidity



The Company has prepared its consolidated financial statements on a going concern basis, which assumes that the Company will realize its assets and satisfy its liabilities in the normal course of business. However, the Company has incurred net losses since its inception and has negative operating cash flows. These circumstances raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of the uncertainty concerning the Company’s ability to continue as a going concern. 



As of June 30, 2018, the Company had cash and cash equivalents of $5.8 million. In July of 2018, the Company received $1.2 million of tax rebate incentive payments in cash from the Australian tax authority. Such tax incentive payments were based on eligible research and development expenditures incurred by the Company’s Australian subsidiary in 2017. Considering the Company’s current cash resources, management believes the Company’s existing resources will be sufficient to fund the Company’s planned operations into the fourth quarter of 2018. For the foreseeable future, the Company’s ability to continue its operations is dependent upon its ability to obtain additional capital.