Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities    
Net loss $ (9,890,319) $ (3,759,152)
Adjustments to reconcile net loss provided by (used in) to net cash used in operating activities:    
Depreciation and amortization 2,262,570 11,689
Impairment of intangible assets 1,701,875 0
Stock-based compensation expense 851,255 587,963
Deferred taxes 23,764 0
Amortization of inventory fair value associated with acquisition of TRx and Avadel 177,238 0
Non-cash interest expense 351,566 21,352
Change in fair value of warrant liability and unit purchase option liability 19,333 1,650
Change in fair value of contingent consideration 276,008 0
Changes in assets and liabilities:    
Accounts receivable, net (373,299) 0
Grants receivable 0 57,230
Other receivables 339,221 0
Inventory, net (617,619) 0
Prepaid expenses and other assets 318,771 (11,040)
Escrowed cash receivable (5,287) 0
Accounts payable 1,640,959 (682,907)
Income taxes payable (88,100) 0
Accrued expenses and other liabilities 2,397,968 (222,303)
Net cash used in operating activities (614,096) (3,995,518)
Investing activities    
Acquisition of business (1) 0
Purchase of property and equipment (25,931) (1,801)
Net cash used in investing activities (25,932) (1,801)
Financing activities    
Proceeds from option and warrant exercises 390,473 0
Proceeds from sale of shares pursuant to private placement, net 0 4,650,000
Proceeds from sales of common stock under employee stock purchase plan 8,400 35,431
Proceeds from sale of shares under common stock purchase agreement 0 1,693,498
Principal payments on term debt 0 (1,767,421)
Payment of offering costs 0 (279,246)
Net cash provided by financing activities 398,873 4,332,262
(Decrease) increase in cash, cash equivalents and restricted cash (241,155) 334,943
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 2,364,344 5,536,840
Supplemental disclosures of cash flow information    
Cash paid for interest 0 70,180
Cash and cash equivalents 2,179,775 5,460,699
Restricted cash, current 9,527 13,300
Restricted cash, non-current $ 175,042 $ 62,841