Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net loss $ (18,677,522) $ (36,579,100)
Adjustments to reconcile net loss to Net cash used in operating activities:    
Depreciation and amortization 617,517 196,898
Stock based compensation 4,306,435 1,659,404
Amortization of debt discount 0 964,851
Gain on conversion of notes payable and accrued interest 0 (2,084,368)
Change in fair market value of derivative liabilities 0 26,265,177
Loss on retirement of fixed assets 0 22,818
Amortization of prepaid rent from stock issuance to landlord 60,588 0
Changes in operating assets and liabilities:    
Accounts receivable (2,000,000)  
Prepaid expenses and other current assets (4,338) (152,477)
Other assets (16,283) (1,610)
Accounts payable 58,591 1,128,076
Accrued expenses 194,945 89,361
Deferred revenue 0 0
Net cash used in operating activities (15,460,067) (8,490,970)
Cash flows used in investing activities:    
Purchases of property and equipment (732,634) (815,500)
Net cash used in investing activities (732,634) (815,500)
Cash flows from financing activities:    
Proceeds from IPO, net of underwriter's discount and offering expenses 0 24,872,170
Proceeds from the sale of stock to strategic investor, net 0 900,000
Sale of Warrant to IPO underwriter 0 1,000
Proceeds from the exercise of stock options 25,876 0
Proceeds from contributions to employee stock purchase plan 169,811  
Proceeds from the disgorgement of short-swing profit 12,611 0
Net cash provided by financing activities 208,298 25,773,170
Net (decrease) increase in cash and cash equivalents (15,984,403) 16,466,700
Cash and cash equivalents - beginning 31,494,592 1,953,780
Cash and cash equivalents - ending 15,510,189 18,420,480
Supplemental disclosure of non-cash financing activities:    
Decrease in deferred offering costs charged to the IPO 0 88,319
Common stock issued upon conversion of notes payable and accrued interest payable 0 26,790,177
Increase in additional paid in capital upon extinguishment of derivative liability for warrants 0 5,752,000
Common stock issued to landlord for tenant improvement of $100,000 and prepaid rent of $400,000 0 500,000
Increase in accrued expenses for the purchase of property and equipment 0 413,498
Common stock issued for services $ 147,900 $ 0