Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENT OF CASH FLOWS

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CONDENSED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net loss $ (6,015) $ (2,362)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share based compensation 270 23
Change in fair value of convertible notes payable 99 0
Change in fair value of warrant liabilities 451 108
Debt discount amortization 174 92
Issuance of common shares - Founders Agreement 948 0
Changes in operating assets and liabilities:    
Prepaid expenses (126) (31)
Accounts payable and accrued expenses 1,408 (95)
Accrued expenses - related party 360 585
Interest payable (57) 0
Accrued interest - related party (46) 121
Net cash used in operating activities (2,534) (1,559)
Cash flows from investing activities:    
Purchase of Short-term investments (certificates of deposits) (10,000) 0
Net cash used in investing activities (10,000) 0
Cash flows from financing activities:    
Issuance of common shares 37,950 0
Offering costs (3,715) 0
Repurchase common shares, net of non-cash portion 0 (8)
Repayment of NSC Note (3,000) 0
Proceeds (repayments) from (of) notes payable - related party (2,848) 1,583
Net cash provided by financing activities 28,387 1,575
Net change in cash 15,853 16
Cash and cash equivalents, beginning of period 197 14
Cash and cash equivalents, end of period 16,050 30
Supplemental disclosure of cash flow information:    
Cash paid for interest 297 183
Non-cash financing activities:    
Conversion of MSA fees into common shares 1,000 0
Issuance of warrants 750 0
Extinguishment of Fortress compensation accrual 632 0
Modification to interest on fortress note 300 0
Conversion of notes payable 200 0
Change in fair value of convertible notes warrants 15 0
Issuance of common shares - Founders Agreement 0 40
Repurchase common shares 0 10
Conversion Class A common shares to Class A preferred shares and common shares $ 0 $ 1