7Baggers

Crown Electrokinetics Corp.
(NASDAQ:CRKN) 

CRKN stock logo

Crown Electrokinetics Corp. focuses on commercializing electrokinetic technology for use in the smart glass market. The company offers electrokinetic film technology for smart or dynamic glass. It develops and sells optical switching films. The company was formerly known as 3D Nanocolor Corp. and ch...

Founded: 2015
Sector: Basic Materials
Industry: Specialty Chemicals
Technology
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• Market Cap:
• Exchange:
• Shs Outstanding:
• Employees:
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• Return on Equity (ROE) ttm:
• Return on Assets (ROA) ttm:
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-09-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2019-09-30 
                   
      revenue
    		682,000 94,000  37,000 22,000           
      yoy
    		3000.00%               
      qoq
    		625.53%   68.18%            
      cost of revenue, excluding depreciation and amortization
    		-1,636,000               
      depreciation and amortization
    		-212,000               
      research and development
    		-756,000 -3,754,000 492,000 490,000 541,000 584,000 955,000 1,473,000 1,096,000 787,000 905,194 838,967 423,174 1,372,522 750,395 
      general and administrative
    		-1,783,000               
      income from operations
    		-3,705,000 -6,864,000 -3,433,000 -4,885,000 -4,126,000 -2,951,000 -3,115,000 -4,475,000 -4,567,000 -5,652,000 -5,262,498 -2,696,859 -2,082,786 -9,310,079 -2,396,378 
      yoy
    		-10.20% 132.60% 10.21% 9.16% -9.66% -47.79% -40.81% 65.93% 119.27% -39.29% 119.60%     
      qoq
    		-46.02% 99.94% -29.72% 18.40% 39.82% -5.26% -30.39% -2.01% -19.20% 7.40% 95.13% 29.48% -77.63% 288.51%  
      operating margin %
    		-543.26% -7302.13% -Infinity% -13202.70% -18754.55% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% 
      other income:
    		               
      interest expense
    		-860,000 -2,447,000 -2,445,000 -2,508,000 -2,017,000 -1,000 -1,000 -2,000 -3,000 -2,000 -531,367 -340,880 -1,089,804 -1,234,213 -393,320 
      loss on extinguishment of warrant liability
    		    -504,000           
      gain on issuance of convertible notes
    		    64,000           
      change in fair value of warrants
    		-23,000 34,000 2,688,000 2,130,000 5,606,000           
      change in fair value of notes
    		  -40,000 -6,883,000 -117,000           
      other income
    		-24,000 -29,000 -30,000 -28,000 -1,206,000     -49,000 61,443 -483 -54,226   
      total other income
    		-907,000 -2,442,000 574,000 -9,634,000 1,826,000 799,000 -1,000 -2,000 -3,000 -51,000 -15,410,719 -1,156,537 -3,683,696 -1,151,951 -404,802 
      income before income taxes
    		-4,612,000 -9,306,000 -2,859,000 -14,519,000     -4,570,000       
      income tax expense
    		               
      net income
    		-4,612,000 -9,306,000 -2,859,000 -14,519,000 -2,300,000 -2,152,000 -3,116,000 -4,477,000 -4,570,000 -5,703,000 -20,673,217 -3,853,396 -5,766,482 -10,462,030 -2,801,180 
      yoy
    		100.52% 332.43% -8.25% 224.30% -49.67% -62.27% -84.93% 16.18% -20.75% -45.49% 638.02%     
      qoq
    		-50.44% 225.50% -80.31% 531.26% 6.88% -30.94% -30.40% -2.04% -19.87% -72.41% 436.49% -33.18% -44.88% 273.49%  
      net income margin %
    		-676.25% -9900.00% -Infinity% -39240.54% -10454.55% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% 
      deemed dividend on series d preferred stock
    		    -6,000           
      cumulative dividends on series a preferred stock
    		-5,000 -5,000 -5,000 -5,000 -4,000           
      cumulative dividends on series b preferred stock
    		-29,000 -29,000 -29,000 -29,000 -20,000           
      cumulative dividends on series c preferred stock
    		-10,000 -10,000 -10,000 -10,000            
      cumulative dividends on series d preferred stock
    		   -53,000 -86,000 -32,000 -23,000         
      cumulative dividends on series f preferred stock
    		-178,000 -82,000 -144,000             
      cumulative dividends on series f-1 preferred stock
    		-26,000 -39,000 -51,000             
      cumulative dividends on series f-2 preferred stock
    		-35,000 -35,000 -44,000             
      net income attributable to common stockholders
    		-4,895,000 -9,506,000 -3,142,000 -14,616,000 -2,416,000 -2,184,000 -3,139,000         
      net income per share
    		-0.13 7.5 -0.94 -18.02 -0.08 -0.09 -0.18 -0.27 -0.29 -0.39 -1.9 -0.45 -0.22 -0.61 -0.24 
      weighted-average shares outstanding, basic and diluted:
    		36,675,540 5,429,259 3,349,195 810,983 29,695,083 17,436,174 17,644,188 16,419,699 15,856,316 14,510,818 8,851,151 8,595,124 25,645,519 17,342,533 11,625,368 
      cost of revenue
    		 13,500  23,000 31,000          153,500 
      gross profit
    		 1,250  14,000            
      yoy
    		               
      qoq
    		               
      gross margin %
    		0% 1.33% NaN% 37.84% 0% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN% 
      operating expenses:
    		               
      selling, general and administrative
    		 -25,888,000 2,941,000 4,409,000 3,576,000 2,367,000 2,160,000 3,002,000 3,471,000 4,865,000 4,357,304 1,857,892 1,659,612 7,937,557 1,492,483 
      total operating expenses
    		 3,112,250 3,433,000 4,899,000 4,117,000 2,951,000 3,115,000 4,475,000 4,567,000 5,652,000 5,262,498 2,696,859 2,082,786 9,310,079 2,242,878 
      loss on extinguishment of debt
    		   -2,345,000       -13,804,849 -255,046 -179,400 -18,200  
      change in fair value of derivative liability
    		  401,000             
      gross loss
    		    -9,000          -153,500 
      loss on exchange of notes payable for common stock and warrants
    		          -5,836  -1,498,901   
      gain on extinguishment of debt
    		               
      change in fair value of warrant liability
    		          -1,023,188 -598,899 -861,365 122,909 -11,482 
      chang in fair value of derivative liability
    		          9,692.75 38,771    
      loss on conversion of notes
    		             -22,447  
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-09-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2019-09-30 
                     
        assets
      		               
        current assets:
      		               
        cash
      		290,000 1,059,000 2,056,000 36,000 2,138,000 821,000 342,000 984,000 2,513,000 9,701,000 15,296,924     
        prepaid and other current assets
      		813,000 728,000 606,000 756,000 723,000 590,000 380,000         
        accounts receivable
      		776,000 83,000             24,788 
        note receivable
      		576,000               
        total current assets
      		2,455,000 1,870,000 2,662,000 792,000 2,861,000 1,411,000 722,000 1,667,000 3,287,000 10,406,000 15,642,568 289,515 692,626 599,153 109,232 
        property and equipment
      		3,036,000 3,129,000 2,638,000 2,366,000 2,528,000 1,409,000 1,416,000 1,092,000 851,000 484,000 209,133 148,240 106,600 87,977 110,257 
        intangible assets
      		1,326,000 1,382,000 1,633,000 1,688,000 1,744,000 1,598,000 1,654,000 1,709,000 1,715,000 1,783,000 1,649,522 204,651 214,806 224,961 255,207 
        right-of-use assets
      		1,533,000  701,000             
        deferred debt issuance costs
      		362,000 1,306,000 3,847,000 5,819,000 8,261,000 150,000          
        other assets
      		165,000 139,000 33,000 33,000 213,000 180,000 403,000 403,000 402,000 28,000 20,373     
        total assets
      		8,877,000 9,527,000 12,166,000 12,147,000 17,968,000 6,590,000 6,166,000 6,968,000 8,473,000 12,701,000 17,521,596 642,406 1,014,032 912,091 630,007 
        liabilities and stockholders’ equity
      		               
        current liabilities:
      		               
        accounts payable
      		2,297,000 1,500,000 1,855,000 1,822,000 1,146,000 865,000 1,211,000 840,000 330,000 426,000 285,149 1,182,621 976,021 1,028,420 939,622 
        accrued expenses
      		962,000 1,190,000 175,000 408,000 230,000 621,000 133,000 116,000 90,000 480,000 210,898 356,315 242,737 575,297 350,443 
        lease liabilities - current portion
      		606,000  385,000             
        warrant liability
      		23,000  34,000 2,721,000 2,332,000 972,000      2,542,415 3,765,699 2,314,152 1,462,624 
        notes payable - current
      		93,000               
        deferred revenue
      		1,260,000               
        warranty customer liability
      		20,000 2,000              
        total current liabilities
      		5,261,000 3,776,000 2,537,000 7,235,000 9,016,000 4,694,000 1,605,000 2,400,000 935,000 1,345,000 934,547 7,413,847 7,605,204 6,555,583 5,835,797 
        notes payable - non-current
      		328,000               
        lease liabilities - non-current portion
      		950,000  355,000             
        warranty customer liability long term
      		20,000 2,000              
        total liabilities
      		6,559,000 4,850,000 2,892,000 7,590,000 10,224,000 6,060,000 3,420,000 4,215,000 2,749,000 1,345,000 934,547 7,413,847 7,605,204 6,555,583 5,835,797 
        commitments and contingencies
      		               
        stockholders’ equity:
      		               
        preferred stock, par value 0.0001...
      		               
        series a preferred stock, par value 0.0001...
      		               
        series b preferred stock, par value 0.0001...
      		               
        series c preferred stock, par value 0.0001...
      		          50     
        series d preferred stock, par value 0.0001...
      		               
        series e preferred stock, par value 0.0001...
      		               
        series f preferred stock, par value 0.0001...
      		               
        series f-1 preferred stock, par value 0.0001...
      		               
        series f-2 preferred stock, par value 0.0001...
      		               
        common stock, par value 0.0001...
      		10,000 7,000 7,000 6,000 4,000 2,000 2,000 1,000 1,000 1,000 1,486 760 2,864 2,478 1,640 
        additional paid-in capital
      		123,915,000 121,665,000 116,956,000 109,381,000 98,051,000 88,533,000 88,597,000 85,489,000 83,983,000 79,659,000 73,788,997 29,758,066 26,082,835 21,264,419 6,663,488 
        accumulated deficit
      		-121,607,000 -116,995,000 -107,689,000 -104,830,000 -90,311,000 -88,005,000 -85,853,000 -82,737,000 -78,260,000 -68,304,000 -57,203,484 -36,530,267 -32,676,871 -26,910,389 -11,870,918 
        total stockholders’ equity
      		2,318,000 4,677,000 9,274,000 4,557,000 7,744,000 530,000 2,746,000 2,753,000 5,724,000 11,356,000 16,587,049     
        total liabilities and stockholders’ equity
      		8,877,000 9,527,000 12,166,000 12,147,000 17,968,000 6,590,000 6,166,000 6,968,000 8,473,000 12,701,000 17,521,596     
        right of use asset
      		 1,701,000  797,000 1,709,000 1,842,000 1,971,000 2,097,000 2,218,000       
        lease liability - current portion
      		 655,000  484,000 598,000 574,000 253,000 378,000 507,000       
        notes payable at fair value
      		   1,470,000 3,191,000 1,654,000          
        notes payable
      		 429,000 88,000 330,000 1,519,000 8,000 8,000 8,000 8,000 439,000      
        lease liability - non-current portion
      		 1,072,000  355,000 1,208,000           
        goodwill
      		  652,000 652,000 652,000           
        lease liability
      		     1,366,000 1,815,000 1,815,000 1,814,000       
        prepaid & other current assets
      		       683,000 774,000 705,000 345,644 253,906 91,702 7,302 84,444 
        shares liability
      		       1,058,000        
        accrued interest
      		           464,565 394,106 372,570 306,994 
        notes payable, net of debt discount of 0 and 405,377, respectively
      		          438,500     
        related party payable
      		           25,000 49,741 49,741 31,000 
        stockholders’ equity
      		               
        cash & cash equivalents
      		           35,609 600,924 591,851  
        liabilities and stockholders’ deficit
      		               
        notes payable, net of debt discount of 822,961 and 405,377, respectively
      		           2,842,931    
        stockholders’ deficit:
      		               
        total stockholders’ deficit
      		           -6,771,441 -6,591,172 -5,643,492 -5,205,790 
        total liabilities and stockholders’ deficit
      		           642,406 1,014,032 912,091 630,007 
        revenue
      		               
        cost of revenue
      		              153,500 
        gross loss
      		              -153,500 
        operating expenses:
      		               
        research and development
      		           838,967 423,174 1,372,522 750,395 
        selling, general and administrative
      		           1,857,892 1,659,612 7,937,557 1,492,483 
        total operating expenses
      		           2,696,859 2,082,786 9,310,079 2,242,878 
        income from operations
      		           -2,696,859 -2,082,786 -9,310,079 -2,396,378 
        other income:
      		               
        other income
      		           -483 -54,226   
        interest expense
      		           -340,880 -1,089,804 -1,234,213 -393,320 
        loss on exchange of notes payable for common stock and warrants
      		            -1,498,901   
        loss on extinguishment of debt
      		           -255,046 -179,400 -18,200  
        change in fair value of warrant liability
      		           -598,899 -861,365 122,909 -11,482 
        chang in fair value of derivative liability
      		           38,771    
        total other income
      		           -1,156,537 -3,683,696 -1,151,951 -404,802 
        net income
      		           -3,853,396 -5,766,482 -10,462,030 -2,801,180 
        net income per share
      		           -0.45 -0.22 -0.61 -0.24 
        weighted-average shares outstanding, basic and diluted:
      		           8,595,124 25,645,519 17,342,533 11,625,368 
        notes payable, net of debt discount of 501,370 and 405,377, respectively
      		            2,176,900   
        notes payable, net of debt discount of 1,439,156 and 405,377, respectively
      		             2,215,403  
        loss on conversion of notes
      		             -22,447  
        deferred offering costs
      		              155,311 
        cash overdraft
      		              8,207 
        notes payable, net of debt discount
      		              2,736,907 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-09-30 2022-06-30 2022-03-31 2021-03-31 2020-12-31 2020-09-30 2020-06-30 
                    
          cash flows from operating activities
        		            
          net income
        		-4,612,000 -9,306,000 -2,859,000 -14,519,000 -2,300,000 -3,116,000 -4,477,000 -4,570,000 -20,673,217 -3,853,396 -5,766,482 -10,462,030 
          adjustments to reconcile net income to net cash from operating activities:
        		            
          stock-based compensation
        		274,000 268,000 133,000 132,000 181,000 480,000 1,448,000 1,083,000 3,463,003 1,613,339 970,432 8,079,223 
          depreciation and amortization
        		212,000 191,000 170,000 190,000 182,000 126,000 127,000 107,000 46,128 21,428 20,584 14,697 
          loss on extinguishment of warrant liability
        		 0 0 0 504,000        
          change in fair value of warrant liability
        		23,000 -34,000 -2,688,000 -2,130,000 -5,606,000    1,023,188 598,899 861,365 -122,909 
          gain on issuance of convertible note
        		 0   -64,000        
          amortization of debt discount
        		    374,000    457,671 266,361 937,786 1,051,698 
          change in fair value of notes
        		 0 40,000 6,883,000 117,000        
          amortization of deferred debt issuance costs
        		944,000 2,541,000 2,751,000 2,414,000 1,635,000        
          amortization of right-of-use assets
        		168,000            
          other incomes
        		 161,000 -808,000 69,000 1,206,000        
          changes in operating assets and liabilities:
        		            
          prepaid and other assets
        		-111,000 -75,000 150,000 147,000 -161,000 389,000 90,000 -87,000     
          accounts receivable
        		-693,000            
          note receivables
        		-576,000            
          deferred revenue
        		1,260,000            
          accounts payable
        		797,000 521,000 -154,000 761,000 125,000 -3,000       
          accrued expenses
        		-228,000 1,015,000 167,000 178,000 -920,000 17,000 26,000 -208,000 -145,417 113,578 -332,560 -189,905 
          lease liabilities
        		-171,000            
          warranty customer liability
        		36,000            
          net cash from operating activities
        		-2,677,000 -4,351,000 -3,421,000 -3,660,000 -4,728,000 -2,106,000 -2,391,000 -3,552,000 -2,978,970 -811,181 -1,507,576 -1,286,656 
          capital expenditures
        		0 0 0 0 0 0 0 0 0 0 0 0 
          free cash flows
        		-2,677,000 -4,351,000 -3,421,000 -3,660,000 -4,728,000 -2,106,000 -2,391,000 -3,552,000 -2,978,970 -811,181 -1,507,576 -1,286,656 
          cash flows from investing activities
        		            
          cash paid for acquisition of amerigen 7
        		 0 -1,000 1,000 -645,000        
          purchase of equipment
        		-63,000 -1,089,000 -377,000 -272,000 -435,000 -20,000 -200,000 -58,000 -76,893 -52,913   
          net cash from investing activities
        		-63,000 -1,089,000 -378,000 -271,000 -1,080,000 -20,000 -254,000 -65,000 -1,526,893 -77,913   
          cash flows from financing activities
        		            
          proceeds from the exercise of warrants
        		 0 1,000 -1,000 2,062,000        
          proceeds from the issuance of common stock and warrants, net of fees
        		            
          proceeds from the issuance of common stock / at-the-market offering, net of offering costs
        		588,000            
          proceeds from issuance of notes in connection with line of credit
        		            
          proceeds from issuance of january promissory notes, net of fees paid
        		   387,000 970,000        
          repayment of notes payable
        		-8,000 0 -351,000 -1,983,000 -14,000    0 0   
          proceeds from the issuance of common stock in connection with equity line of credit, net of offering costs
        		1,391,000 0           
          net cash from financing activities
        		1,971,000 4,441,000 5,819,000 1,829,000 7,125,000 1,484,000   19,767,178 323,779 1,545,700 1,830,200 
          net increase / decrease in cash
        		-769,000 -997,000 2,020,000 -2,102,000 1,317,000        
          cash — beginning of period
        		1,059,000 0 0 0 821,000 0 0 6,130,000  0 0 48,307 
          cash — end of period
        		290,000 -997,000 2,020,000 -2,102,000 2,138,000 -642,000 -1,529,000 2,513,000  -565,315 9,073 591,851 
          supplemental disclosure of non-cash investing and financing activities:
        		            
          issuance of series e preferred stock in connection with line of credit
        		 0           
          issuance of common stock in connection with conversion of notes
        		 -516,000 2,165,000 0 516,000     0 2,342,162 2,151,461 
          commitment to issue shares of common stock in connection with march waiver agreement
        		    298,000        
          deemed dividend for repricing of series d preferred stock
        		   0 6,000        
          unpaid equipment included in accounts payable
        		  -69,000 -64,000 156,000 374,000 108,000 4,000     
          supplemental cash flow information
        		            
          cash paid for interest
        		 5,000 1,000 0 8,000 0 0 3,000 2,448 4,061 181 55,959 
          series a preferred stock
        		3,146,000     0 0 188,311,000     
          series b preferred stock
        		33,883,000     0 0 2,019,038,000     
          series c preferred stock
        		9,346,000     0 0 560,757,000     
          series d preferred stock
        		            
          series e preferred stock
        		            
          convertible notes
        		         -5,536,997 -2,342,163 8,417,824 
          series f preferred stock
        		501,579,000            
          series f-1 preferred stock
        		72,631,000            
          series f-2 preferred stock
        		124,946,000            
          warrants to purchase common stock
        		2,470,078,000     1,176,602,000 0 4,725,177,000  -4,273,483 795,800 5,764,356 
          warrants to purchase series e preferred stock
        		750,000,000            
          options to purchase common stock
        		632,779,000     767,500,000 -1,496,113,000 10,567,099,000  -6,066,603 2,433,932 14,050,167 
          unvested restricted stock units
        		1,124,527,000     370,833,000 -1,745,276,000 2,261,905,000     
          commitment shares
        		212,890,000            
          total
        		5,935,805,000            
          change in fair value of liability
        		            
          loss on extinguishment of debt
        		 0 0      13,804,849 255,046 179,400 18,200 
          amortization of right of use assets
        		   912,000 133,000 126,000 121,000 118,000     
          impairment of goodwill
        		            
          intangible asset impairment
        		            
          loss on lease termination
        		            
          loss on disposal of equipment
        		 -236,000 145,000   0 0 52,000     
          lease liability
        		   -967,000 -134,000 -125,000 -128,000 -15,000     
          purchase of patents
        		     0 -54,000 -7,000     
          proceeds from the issuance of common stock / at-the-market offering
        		 4,441,000 1,759,000 0 2,198,000 672,000       
          proceeds from the issuance of notes in connection with line of credit
        		 0 0 350,000 2,000,000        
          offering costs for the issuance of common stock / at-the-market offering
        		 0 -79,000 0 -91,000 -24,000       
          proceeds from issuance of senior secured convertible notes and common stock warrants
        		        0 626,000 0 2,050,000 
          proceeds from issuance of series d preferred stock and warrants, net of fees
        		            
          proceeds from issuance of series f-1 preferred stock
        		 0 0          
          proceeds from issuance of series f-2 preferred stock
        		 0 0          
          issuance of common stock in connection with equity line of credit
        		 0           
          issuance of series f preferred stock in connection with exchange of series d preferred stock
        		 0 0          
          issuance of common stock in connection with senior secured notes settlement
        		 0           
          issuance of common stock warrants in connection with sloc
        		     0 0 223,000     
          commitment to issue shares of common stock connection with demand notes
        		            
          conversion of senior secured notes into series f preferred stock
        		            
          issuance of common stock warrants in connection with consideration payable
        		            
          acquisitions of property and equipment included in liabilities
        		            
          right-of-use assets obtained in exchange for operating lease liabilities
        		            
          reduction of right of use asset and operating lease liability due to early lease termination
        		            
          ●
        		            
          change in fair value of derivative liability
        		            
          proceeds from a deposit for series d preferred stock
        		            
          proceeds from issuance of senior secured notes, net of fees paid
        		            
          conversion of senior secured notes into series f preferred stock in connection with exchange agreements
        		            
          commitment to issue shares of common stock in connection with demand notes
        		  0          
          issuance of series e preferred stock in connection with loc
        		   5,593,000 4,350,000        
          issuance of common stock to consultants
        		        3,326 20,000 0 282,109 
          gain on forgiveness of ppp loan
        		            
          proceeds from exercise of stock options
        		            
          net decrease in cash
        		            
          cash — beginning of year
        		            
          cash — end of year
        		            
          numerator
        		            
          cumulative dividends on series d preferred stock
        		            
          numerator for basic and diluted net income per share
        		            
          denominator
        		            
          weighted-average common shares outstanding
        		            
          less: weighted-average shares subject to repurchase
        		            
          denominator for basic and diluted net income per share
        		            
          shares used to compute pro forma net income per share, basic and diluted
        		            
          net income per share
        		            
          basic and diluted
        		            
          loss on exchange of notes payable for common stock and warrants
        		        5,836 0   
          accrued interest
        		        71,247 70,459 151,837 126,556 
          proceeds from the exercise of common stock warrants
        		            
          proceeds from ppp loan
        		        233,300 0 0 205,200 
          repayment of related party non interest bearing advance
        		            
          net increase increase in cash
        		     -642,000       
          issuance of common stock and preferred stock in connection with conversion of notes
        		            
          repurchase beneficial conversion feature in connection with conversion of notes payable
        		            
          reclassification of warrant liabilities
        		        3,565,603    
          issuance of common stock warrants in connection with note exchange agreements
        		            
          proceeds from the issuance of common stock, net of fees
        		         0   
          proceeds from a deposit for the series d preferred stock
        		            
          cash paid income taxes
        		            
          unvested restricted stock awards
        		          -749,997 3,000,012 
          (gain) loss on extinguishment of debt
        		            
          account payable
        		       -32,000 -922,471 231,601 600 -112,134 
          net increase in cash
        		       -3,617,000   9,073 543,544 
          non-cash expenses for placement agent
        		        0 0   
          proceeds from the exercise of stock options
        		            
          repayment of senior secured promissory note
        		        0 0 0 -200,000 
          common stock repurchased and subsequently canceled
        		        0 -225,000 0 -225,000 
          unpaid research and development license included in accounts payable
        		         0 -25,000 100,000 
          beneficial conversion feature in connection with notes payable
        		        0 0 0 618,657 
          issuance of common stock in connection with notes payable
        		        0 203,500 179,400 750,750 
          issuance of common stock in satisfaction of accounts payable
        		        0 0 0 121,835 
          issuance of common stock and warrants
        		            
          deferred offering costs
        		            
          bad debt expense
        		            
          proceeds from related party non-interest bearing advance
        		        0    
          proceed from the exercise of common stock warrants
        		            
          proceeds from notes payable
        		            
          repayment of related party non-interest bearing advance
        		        -25,000    
          unpaid deferred offering costs
        		            
          repurchased beneficial conversion feature in connection with conversion of notes payable
        		            
          canceled restricted stock awards
        		        6    
          issuance of common stock warrants in connection with notes payable
        		            
          exercise of stock options
        		            
          issuance of common stock and warrants in connection with cancellation of consulting agreement
        		            
          chang in fair value of derivative liability
        		            
          prepaid and other current assets
        		         -109,725 -84,400 5,392 
          purchase of research and development license
        		            
          payment of financing costs
        		            
          change in cash overdraft
        		            
          exercise of common stock warrants
        		         -19 0 29 
          issuance of common stock warrants
        		            
          proceeds from related party
        		            
          loss on conversion of notes
        		           22,447 
          due to related parties