Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Continuing operations:    
Net (loss) $ (10,967,620) $ (1,987,449)
(Loss) from discontinued operations (3,563,876) (236,473)
(Loss) from continuing operations (7,403,744) (1,750,976)
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities of continuing operations:    
Amortization of discount on convertible debt 4,750,000
Stock-based compensation for services 379,622 368,459
Depreciation and amortization 55,899 74,098
Amortization of license fees (72,524) (72,524)
Other non-cash (credits) charges 200,108
Gain on sale of property and equipment (1,933,335)
Change in:    
Prepaid expenses and other current assets 192,071 222,474
Accounts payable (4,997) (483,410)
Accrued compensation 3,139 (120,775)
Accrued expenses (133,014) 30,042
Net cash (used in) operating activities of continuing operations (2,233,548) (3,465,839)
Net cash (used in) operating activities of discontinued operations (930,323) (375,228)
Net cash (used in) operating activities (3,163,871) (3,841,067)
Continuing operations:    
Purchases of short-term investments (13,818,949)
Proceeds from sales of short-term investments 7,506,761 16,522,853
Investment in Coinsquare (3,000,000)
Proceeds from sale of property and equipment 1,799,143
Purchases of patent and trademark application costs (14,255) (14,378)
Net cash provided by investing activities of continuing operations 4,492,506 4,488,669
Net cash provided by investing activities of discontinued operations 4,004 16,673
Net cash provided by investing activities 4,496,510 4,505,342
Continuing operations:    
Net proceeds from issuance of convertible notes 4,750,000
Net proceeds from issuance of common stock, net of $336,491 in offering expenses 1,913,509
Net proceeds from exercise of stock options 98,260
Redemption of equity rights (291,995)
Repayment of notes payable and other obligations (192,539) (229,238)
Net cash provided by (used in) financing activities of continuing operations 6,277,235 (229,238)
Net increase in cash and cash equivalents 7,609,874 435,037
Cash and cash equivalents at beginning of period 5,529,848 2,012,283
Cash and cash equivalents at end of period 13,139,722 2,447,320
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 1,571 33,331
Supplemental disclosure of noncash investing and financing activities:    
Conversion of notes payable and accrued interest to preferred stock 4,798,671
Liability payoffs upon property sale $ 2,064,758