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BioSig Tech. (BSGM) & Electrophysiology Sector (related stock BSGM)
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10Q filed for 9/30/19snip> Nine Months Ended September 30, 2019 Compared to Nine Months Ended September 30, 2018
As of September 30, 2019, we had a working capital of $11,669,119, comprised of cash of $12,308,578, vendor deposits of $430,444 and prepaid expenses of $143,499, which was offset by $724,450 of accounts payable and accrued expenses, accrued dividends on preferred stock issuances of $123,601 and current portion of lease liability of $365,351. For the nine months ended September 30, 2019, we used $11,581,686 of cash in operating activities and $194,888 of cash in investing activities.
Cash provided by financing activities totaled $19,634,992, comprised of proceeds from the sale of our common stock of $8,619,278, proceeds from sale of subsidiary stock of $3,694,646, subsidiary stock subscriptions of $501,000, which have not closed as of the date of filing of this report, and proceeds from exercise of warrants and options of $6,354,870 and $465,198, respectively.
In the comparable period in 2018, our aggregate cash provided by financing activities totaled $13,268,632, comprised of proceeds from the sale of our common stock of $9,139,721, proceeds from the sale of our Series E preferred stock of $1,492,969 and proceeds from exercise of warrants and options of $2,020,342 and $615,600, respectively. At September 30, 2019, we had cash of $12,308,578 compared to $7,279,520 at September 30, 2018. Our cash is held in bank deposit accounts. At September 30, 2019 and September 30, 2018, we had no convertible debentures outstanding.
Cash used in operations for the nine months ended September 30, 2019 and 2018 was $11,581,686 and $7,286,321, respectively, which represent cash outlays for research and development and general and administrative expenses in such periods. The increases in cash outlays principally resulted from additional operating costs and general and administrative expenses and an increase in our operating assets of $475,203 and decrease our operating liabilities of $222,099, net of stock-based compensation and depreciation and amortization.
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