General form of registration statement for all companies including face-amount certificate companies

Consolidated Statements of Cash Flows

v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended 12 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:        
Net loss $ (1,387,926) $ (2,443,881) $ (4,257,875) $ (16,994,625)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 22,055 19,373 23,758 38,972
Stock based compensation 204,083 771,358 708,059 11,667,361
Gain on sale of assets (95,000) (95,000) (2,426)
Amortization of debt discount 4,592
Inventory impairment 958,575
Changes in assets and liabilities:        
Inventory (25,275) 28,099
Deposits and other assets (1,767) 5,102 5,114 1,391
Prepaid expenses (19,084) 12,389 17,329 (5,482)
Accrued payroll and payroll related expenses 270,763 676,364 1,122,773 (218,619)
Accounts payable and accrued expenses 78,770 (16,626) 10,808 (50,328)
Accrued interest 222 222 (101,553)
Fees payable to directors (50,000)
Other current liabilities (12,613)
Net cash used in operating activities (858,381) (1,070,699) (1,506,237) (5,695,231)
Cash flows from investing activities:        
Proceeds from sale of property and equipment 10,000 10,000 87,430
Increase in patents (24,131) (21,852) (22,049) (26,670)
Purchases of property and equipment (1,633)
Net cash used in investing activities (24,131) (11,852) (12,049) 59,127
Cash flows from financing activities:        
Proceeds from the issuance of common stock 800,000 1,430,000 1,776,000 3,923,798
Proceeds from the issuances of notes payable 30,000 30,000 2,076,000
Repayment of principal on notes payable (550,408)
Net cash provided by financing activities 800,000 1,460,000 1,806,000 5,449,390
NET (DECREASE) INCREASE IN CASH (82,512) 377,449 287,714 (186,714)
Cash at the beginning of the period 323,410 35,696 35,696 222,410
Cash at the end of the period 240,898 413,145 323,410 35,696
NON-CASH INVESTING AND FINANCING ACTIVITIES:        
Conversion of notes payable and accrued interest into common stock 30,222 30,222 11,125,167
Conversion of accrued payroll and payroll related expenses into stock options 227,784 669,006 1,210,124
Conversion of accounts payable into stock options 66,445 301,063
Effect of merger with Cardax Pharmaceuticals, Inc. 1,402
SUPPLEMENTAL DISCLOSURES:        
Cash paid for interest 2,249 2,112 188,382
Cash paid for income taxes