v3.10.0.1
Condensed Balance Sheets - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Assets    
Cash $ 2,205,858 $ 5,601,878
Accounts receivable 11,770 6,850
Prepaid expenses 318,924 67,497
Inventory 279,210 191,680
Other current assets 18,553 14,249
Total Current Assets 2,834,315 5,882,154
Other Assets    
Fixed assets, net 211,345 241,549
Total Assets 3,045,660 6,123,702
Current Liabilities:    
Accounts payable and accrued liabilities 751,376 848,214
Senior secured convertible promissory notes payable, net of discount 353,581 0
Total Liabilities 1,104,957 848,214
Stockholders’ Equity    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares issued or outstanding 0 0
Common stock, $0.0001 par value; 50,000,000 shares authorized; 3,923,027 and 3,923,027 shares issued and outstanding 392 392
Additional paid in capital 24,507,821 23,170,531
Accumulated deficit (22,567,510) (17,895,435)
Total Stockholders’ Equity 1,940,703 5,275,488
Total Liabilities and Stockholders’ Equity $ 3,045,660 $ 6,123,702
v3.10.0.1
Condensed Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Income Statement [Abstract]        
Revenue $ 0 $ 57,772 $ 6,174 $ 57,772
Cost of Goods Sold 0 51,427 0 51,427
Gross Profit 0 6,345 6,174 6,345
Operating Expenses        
Research and development 839,756 174,725 2,508,579 270,539
Sales and marketing 41,357 6,904 148,534 8,028
General and administrative 941,956 881,570 2,009,747 1,145,329
Total operating expenses 1,823,068 1,063,199 4,666,860 1,423,897
Operating loss (1,823,068) (1,056,855) (4,660,686) (1,417,552)
Other Expenses        
Other income (expense) (23,704) (374,937) (11,389) (755,862)
Total other expenses (23,704) (374,937) (11,389) (755,862)
Loss from operations before income taxes (1,846,772) (1,431,791) (4,672,075) (2,173,414)
Provision for income taxes 0 0 0 0
Net Loss $ (1,846,772) $ (1,431,791) $ (4,672,075) $ (2,173,414)
Net loss per share - basic and diluted $ (0.47) $ (0.59) $ (1.19) $ (1.37)
Weighted average common shares - basic and diluted 3,923,027 2,437,010 3,923,027 1,584,906
v3.10.0.1
Condensed Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash Flows from Operating Activities    
Net loss $ (4,672,075) $ (2,173,414)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 30,204 30,964
Common stock, options and warrants issued for services 749,749 306,184
Interest on discount of convertible debt 0 711,472
Imputed interest on promissory notes 0 1,480
Amortization of debt discount 5,822 0
Changes in operating assets and liabilities:    
Increase in accounts receivable (4,920) 0
Increase in prepaid expenses (251,428) (4,200)
Increase in inventory (87,530) (93,316)
Increase in other assets (4,304) (272)
Decrease in accounts payable and accrued liabilities (96,838) (157,618)
Net cash used in operating activities (4,331,320) (1,378,720)
Cash Flows from Investing Activities:    
Purchases of fixed assets 0 (7,862)
Net cash used in investing activities 0 (7,862)
Cash Flows from Financing Activities    
Proceeds from issuance of common stock, net of fees 0 8,590,700
Repayment of notes payable 0 (50,000)
Proceeds from senior secured convertible promissory notes, net of fees 935,300 225,000
Net cash provided by financing activities 935,300 8,765,700
Net Increase/(Decrease) in cash (3,396,020) 7,379,118
Cash, beginning of period 5,601,878 144,953
Cash, end of period 2,205,858 7,524,071
Supplemental disclosures:    
Interest paid 0 0
Income tax paid 0 0
Supplemental disclosures of non-cash Items:    
Discount on convertible notes $ 587,541 $ 225,000