Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.19.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:    
Net loss $ (5,734,000) $ (4,260,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation 620,000 409,000
Change in fair value of warrant liability 39,000 (9,000)
Depreciation 15,000 4,000
Changes in operating assets and liabilities:    
Amounts receivable (700,000) (27,000)
Prepaid expenses (308,000) 6,000
Deposits (271,000)
Accounts payable and accrued liabilities 372,000 248,000
Net cash used in operating activities (5,696,000) (3,900,000)
Cash flows from investing activities:    
Purchase of property and equipment (50,000) (22,000)
Net cash used in financing activities (50,000) (22,000)
Cash flows from financing activities:    
Proceeds from issuance of common shares, net of offering costs 14,726,000 2,917,000
Proceeds from issuance of common shares and warrants, net offering costs 5,840,000
Proceeds from the exercise of common share purchase warrants 607,000 615,000
Proceeds from exercise of stock options 43,000 7,000
Net cash provided by financing activities 21,216,000 3,539,000
Net increase (decrease) in cash 15,470,000 (383,000)
Cash at beginning of year 1,353,000 1,736,000
Cash at end of year 16,823,000 1,353,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 11,000 57,000
Supplemental disclosure of non-cash transactions:    
Reclassification of warrant liability upon warrant exercise 123,000
Assets acquired under capital lease $ 24,000