Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (unaudited)

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Statements of Cash Flows (unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (6,278,708) $ (5,269,824)
Adjustments to reconcile net loss to net cash used in operating activities:    
Allowance for doubtful accounts 273,727 15,475
Write-down of inventory 712,083 12,590
Depreciation and amortization 224,926 184,279
Write-off of capitalized patents 202,343 48,773
Write-off of fixed assets 15,036 1,215
Stock-based compensation 498,006 763,326
Decrease (increase) in operating assets:    
Accounts receivable (100,715) 446,261
Inventories 166,529 (627,650)
Prepayments and other current assets 77,981 60,427
Increase (decrease) in operating liabilities:    
Accounts payable (133,783) (234,486)
Accrued expenses (5,627) (405,761)
Net cash used in operating activities (4,348,202) (5,005,375)
Cash flows from investing activities:    
Purchase of property and equipment (18,146) (297,095)
Acquisition of intangible assets (171,134) (203,500)
Net cash used in investing activities (189,280) (500,595)
Cash flows from financing activities:    
Net proceeds from issuance of stock 13,657,331 0
Exercise of options and warrants 11,143 35,536
Net cash provided by financing activities 13,668,474 35,536
Net increase (decrease) in cash and cash equivalents 9,130,992 (5,470,434)
Cash and cash equivalents at beginning of period 4,204,916 15,022,286
Cash and cash equivalents at end of period $ 13,335,908 $ 9,551,852