Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating activities    
Net loss $ (3,882,847) $ (1,960,638)
Adjustments to reconcile net loss provided by (used in) to net cash used in operating activities:    
Depreciation and amortization 1,023,040 5,830
Stock-based compensation expense 242,824 332,219
Deferred taxes 15,913 0
Amortization of inventory fair value associated with acquisition of TRx and Avadel 45,450 0
Non-cash interest expense 105,451 13,389
Change in fair value of warrant liability and unit purchase option liability 23,251 3,761
Change in fair value of contingent consideration and long term royalty obligation 262,769 0
Changes in assets and liabilities:    
Accounts receivable, net 104,671 0
Grants receivable 0 (54,891)
Other receivables 371,663 0
Inventory, net (554,445) 0
Prepaid expenses and other assets (71,085) 141,650
Escrowed cash receivable (2,065) 0
Accounts payable 1,866,960 (414,333)
Income taxes payable 7,400 0
Accrued expenses and other liabilities 160,627 (303,452)
Net cash used in operating activities (280,423) (2,236,465)
Investing activities    
Acquisition of business (1) 0
Purchase of property and equipment (19,224) (1,801)
Net cash used in investing activities (19,225) (1,801)
Financing activities    
Proceeds from option and warrant exercises 363,390 0
Proceeds from sale of shares under common stock purchase agreement 0 1,186,564
Principal payments on term debt 0 (874,700)
Payment of offering costs 0 (190,905)
Net cash provided by financing activities 363,390 120,959
Increase (decrease) in cash, cash equivalents and restricted cash 63,742 (2,117,307)
Cash, cash equivalents, and restricted cash at beginning of period 2,605,499 5,201,897
Cash, cash equivalents, and restricted cash at end of period 2,669,241 3,084,590
Supplemental disclosures of cash flow information    
Cash paid for interest 0 44,003
Cash and cash equivalents 2,523,927 3,001,553
Restricted cash, current 13,955 20,203
Restricted cash, non-current $ 131,359 $ 62,834