these tcap agents can be administered with a variety of immuno-modulators to enhance a patient 's immune response through ligand specific t-cell activation . unlike many other patient specific or autologous immunotherapy approaches , our drugs are fully-allogenic , off-the-shelf products which means that we can administer immediately without the extraction of blood or tumor tissue from each patient or the creation of an individualized treatment based on these patient materials . our tcap product candidates from our impact ® and compact  platforms are produced from allogeneic cell lines expressing tumor-specific proteins common among cancers . because each patient receives the same treatment , we believe that our immunotherapy approach offers superior speed to initiation , logistical , manufacturing and importantly , cost benefits , compared to personalized precision medicine approaches . our impact ® platform is an allogenic cell-based , t-cell-stimulating platform that functions as an immune activator to stimulate and expand t-cells . the key component of this innovative immunotherapy platform is the dual functionality of the heat shock protein , gp96 . as a molecular chaperone , gp96 is typically found within the cell 's endoplasmic reticulum and facilitates the folding of newly synthesized proteins for functionalized tasks . but when a cell abnormally dies through necrosis or infection , gp96 is naturally released into the surrounding microenvironment . at this moment , gp96 becomes a danger associated molecular protein or damp , a molecular warning signal for localized innate activation of the immune system . in this context gp96 serves as a potent adjuvant , or immune stimulator , via toll-like receptor 4/2 ( tlr4 and tlr2 ) signaling which serves to activate apcs to specialized dendritic cells that upregulate t-cell costimulatory ligands , mhc and immune activating cytokine . it is among the most powerful adjuvants found in the body and uniquely shows exclusive specificity to cd8+ killer t-cells through cross-presentation of the gp96-chaperoned tumor associated peptide antigens directly to mhc class i molecules for direct activation and expansion of cd8+ t-cells . thus , gp96 plays a critical role in the mechanism of action for heat 's t-cell activating platform immuno-therapies ; mimicking necrotic cell death and activating a powerful , tumor antigen-specific t-cell immune response to attack the patient 's cancer cells . compact  , our second tcap , is a dual-acting immunotherapy designed to deliver antigen driven t-cell activation and specific co-stimulation in a single product . compact  helps unlock the body 's natural defenses and builds upon impact ® by providing specific co-stimulation to enhance t-cell activation and expansion . it has the potential to simplify combination immunotherapy development for oncology patients , as it is designed to deliver the gp96 heat shock protein and a t-cell co-stimulatory fusion protein ( ox40l ) as a single therapeutic , without the need for multiple , independent biologic products . the potential advantages of compact  include : ( a ) enhanced activation of antigen-specific cd8+ t-cells ; ( b ) serving as a booster to expand the number of antigen-specific cd8+ t-cells compared to ox40l alone ; ( c ) stimulation of t-cell memory function to remain effective in the body after treatment , even if the cancer comes back ; ( d ) demonstration of less toxicity , as the source of cancer associated antigens and co-stimulator are supplied at the same time locally and the draining lymph nodes , which drive targeted , cancer specific immunity towards the tumor rather than throughout the body ; and ( e ) a potential paradigm shift that is designed to simplify combination cancer immunotherapy versus systemic co-stimulation with conventional monoclonal antibodies ( mabs ) . 46 pelican , our subsidiary , is a biotechnology company focused on the development of biologic based therapies designed to activate the immune system , including the monoclonal antibody , ptx-35 . ptx-35 , which is currently focused on preclinical ind enabling activities , is pelican 's lead product candidate targeting the t-cell co-stimulator , tnfrsf25 . it is designed to harness the body 's natural antigen specific immune activation and tolerance mechanisms to reprogram immunity and provide a long-term , durable clinical effect . tnfrsf25 agonism has been shown to provide highly selective and potent stimulation of antigen experienced memory ' cd8+ cytotoxic t-cells , which are the class of long-lived t-cells capable of eliminating tumor cells in patients . due to the preferential specificity of ptx-35 to antigen experienced cd8+ t-cells , this agent represents a promising candidate as a t-cell co-stimulator in cancer patients . when combined in preclinical studies with impact ® and compact  platform immunotherapies , ptx-35 has been shown to enhance antigen specific t-cell activation to eliminate tumor cells . pelican is also developing other biologics that target tnfrsf25 for various immunotherapy approaches , including ptx-45 , a human tl1a-lg fusion protein designed as a shorter half-life agonist of tnfrsf25 . we continue to enroll patients in our hs-110 combination immunotherapy trial , preparing for ind submission of hs-130 ( compact  ) , advancing pre-clinical development of pelican assets in anticipation of an ind submission , providing general and administrative support for these operations and protecting our intellectual property . we currently do not have any products approved for sale and we have not generated any significant revenue since our inception and no revenue from product sales . we expect to continue to incur significant expenses and to incur increasing operating losses for at least the next several years . story_separator_special_tag 2018-08 should assist entities in ( 1 ) evaluating whether transactions should be accounted for as contributions ( nonreciprocal transaction ) within the scope of topic 958 , not-for-profit entities , or as exchange ( reciprocal ) transactions subject to other guidance and ( 2 ) determining whether a contribution is conditional . this amendment applies to all entities that make or receive grants or contributions . this asu is effective for public companies serving as a resource recipient for fiscal years beginning after june 15 , 2018 , including interim periods within that fiscal year . we do not anticipate asu 2018-08 to have a material impact to our consolidated financial statements . 50 in january 2017 , the fasb issued asu no . 2017-01 , business combinations ( topic 805 ) to clarify the definition of a business , which is fundamental in the determination of whether transactions should be accounted for as acquisitions ( or disposals ) of assets or businesses combinations . the updated guidance requires that in order to be considered a business the integrated set of assets and activities acquired must include , at a minimum , an input and process that contribute to the ability to create output . if substantially all of the fair value of the assets acquired is concentrated in a single identifiable asset or group of similar assets , it is not considered a business , and therefore would not be considered a business combination . the update is effective for fiscal years beginning after december 15 , 2018 , and interim periods with fiscal years beginning after december 15 , 2019 , with early adoption permitted . we do not anticipate asu 2017-01 to have a material the impact to our consolidated financial statements . in august 2016 , the fasb issued asu 2016-18 , statement of cash flows ( topic 230 ) restricted cash . asu 2016-18 requires the statement of cash flows to be a reconciliation between beginning and ending cash balances inclusive of restricted cash balances . asu 2016-18 is effective for fiscal years beginning after december 15 , 2017 and is to be applied using a retrospective transition method to each period presented . we adopted this asu for the year ending december 31 , 2018. the adoption of this standard resulted in the removal of changes in restricted cash from the consolidated statements of cash flows of $ 2,292 and $ 101,176 for the years ended december 31 , 2018 and 2017 , respectively and inclusion of these amounts as part of the starting and ending cash balances . in february 2016 , the fasb issued asu 2016-02 , leases ( topic 842 ) , requiring lessees to recognize for all leases ( with the exception of short-term leases ) at the commencement date : ( 1 ) a lease liability , which is a lessee 's obligation to make lease payments arising from a lease , measured on a discounted basis , and ( 2 ) a right-of-use ( rou ) asset , which is an asset that represents the lessee 's right to use , or control the use of , a specified asset for the lease term . the update is effective for fiscal years beginning after december 15 , 2019 , and interim periods within fiscal years beginning after december 15 , 2020. we currently anticipate that upon adoption of the new standard , rou assets and lease liabilities will be recognized in amounts that will be immaterial to the consolidated balance sheets . in may 2014 , the fasb issued asu no . 2014-09 , revenue from contracts with customers ( asu 2014-09 ) , which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers . the asu will replace most existing revenue recognition guidance in u.s. gaap when it becomes effective . in july 2015 , the fasb voted to defer the effective date of the new standard until fiscal years beginning after december 15 , 2017 with early application permitted for fiscal years beginning after december 15 , 2016. grant revenue is recognized as work is performed and qualifying costs are incurred . we adopted the modified retrospective method of adoption in early 2018 and there was no material effect on the timing and measurement of revenue . results of operations year ended december 31 , 2018 and 2017 revenues the cprit grant is subject to customary cprit funding conditions including a matching funds requirement where pelican will match $ 0.50 for every $ 1.00 from cprit . consequently , pelican is required to raise $ 7.6 million in matching funds over the three year project . as of december 31 , 2018 , cprit has provided $ 8.3 million of the total $ 15.2 million grant . the remaining $ 6.9 million is expected to become available in the third cprit fiscal year ( june 2018 through may 2019 ) . as of december 31 , 2018 , we have provided approximately $ 5.2 million in funding of which $ 4.1 million was used to satisfy pelican 's matching fund obligation under the first two years of the cprit grant and we have approximately $ 3.5 million remaining to provide for the third cprit fiscal year . upon commercialization of the product , the terms of the grant contract require pelican to pay tiered royalties in the low to mid-single digit percentages . such royalties reduce to less than one percent after a mid-single-digit multiple of the grant funds have been paid to cprit in royalties . we recognized grant revenue of approximately $ 5.8 million for the year ended december 31 , 2018 for qualified expenditures under the grant . we recognized $ 1.5 million grant revenue related to cprit during the year ended december 31 , 2017. as of december 31 , 2018 , we had

liquidity and capital resources sources of liquidity since our inception in june 2008 , we have incurred significant losses and we have financed our operations with net proceeds from the private placement of our preferred stock , common stock and debt . more recently , we have primarily financed our operations with net proceeds from the public offering of our common stock and to a lesser extent , the proceeds from the exercise of warrants . during may 2018 , we closed a public offering of shares of our common stock and warrants to purchase shares of our common stock in which we received net proceeds of approximately $ 18.8 million and after the closing of the offering , an additional $ 4.8 million from the exercise of 3,054,667 warrants issued in this offering . during november 2018 , we closed a public offering of shares of our common stock and warrants to purchase shares of our common stock in which we received net proceeds of approximately $ 12.7 million . in addition , from august 2016 through july 2017 we received an aggregate of $ 9.3 million of net proceeds through our at market issuance sales agreement ( the fbr sales agreement ) with b. riley fbr , inc. formerly known as fbr capital markets & co. on january 18 , 2018 , we entered into the h.c. wainwright sales agreement that replaced the fbr sales agreement and which has subsequently been terminated . to date , we received net proceeds of approximately $ 3.8 million from the sale of shares of our common stock through the h.c. wainwright sales agreement . as of december 31 , 2018 , we had an accumulated deficit of $ 84.6 million . we had net losses of $ 16.6 million and $ 12.4 million for the years ended december 31 , 2018 and 2017 , respectively . we expect to incur significant expenses and continued losses from operations for the foreseeable future .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources sources of liquidity since our inception in june 2008 , we have incurred significant losses and we have financed our operations with net proceeds from the private placement of our preferred stock , common stock and debt . more recently , we have primarily financed our operations with net proceeds from the public offering of our common stock and to a lesser extent , the proceeds from the exercise of warrants . during may 2018 , we closed a public offering of shares of our common stock and warrants to purchase shares of our common stock in which we received net proceeds of approximately $ 18.8 million and after the closing of the offering , an additional $ 4.8 million from the exercise of 3,054,667 warrants issued in this offering . during november 2018 , we closed a public offering of shares of our common stock and warrants to purchase shares of our common stock in which we received net proceeds of approximately $ 12.7 million . in addition , from august 2016 through july 2017 we received an aggregate of $ 9.3 million of net proceeds through our at market issuance sales agreement ( the fbr sales agreement ) with b. riley fbr , inc. formerly known as fbr capital markets & co. on january 18 , 2018 , we entered into the h.c. wainwright sales agreement that replaced the fbr sales agreement and which has subsequently been terminated . to date , we received net proceeds of approximately $ 3.8 million from the sale of shares of our common stock through the h.c. wainwright sales agreement . as of december 31 , 2018 , we had an accumulated deficit of $ 84.6 million . we had net losses of $ 16.6 million and $ 12.4 million for the years ended december 31 , 2018 and 2017 , respectively . we expect to incur significant expenses and continued losses from operations for the foreseeable future .
```    
 Suspicious Activity Report : these tcap agents can be administered with a variety of immuno-modulators to enhance a patient 's immune response through ligand specific t-cell activation . unlike many other patient specific or autologous immunotherapy approaches , our drugs are fully-allogenic , off-the-shelf products which means that we can administer immediately without the extraction of blood or tumor tissue from each patient or the creation of an individualized treatment based on these patient materials . our tcap product candidates from our impact ® and compact  platforms are produced from allogeneic cell lines expressing tumor-specific proteins common among cancers . because each patient receives the same treatment , we believe that our immunotherapy approach offers superior speed to initiation , logistical , manufacturing and importantly , cost benefits , compared to personalized precision medicine approaches . our impact ® platform is an allogenic cell-based , t-cell-stimulating platform that functions as an immune activator to stimulate and expand t-cells . the key component of this innovative immunotherapy platform is the dual functionality of the heat shock protein , gp96 . as a molecular chaperone , gp96 is typically found within the cell 's endoplasmic reticulum and facilitates the folding of newly synthesized proteins for functionalized tasks . but when a cell abnormally dies through necrosis or infection , gp96 is naturally released into the surrounding microenvironment . at this moment , gp96 becomes a danger associated molecular protein or damp , a molecular warning signal for localized innate activation of the immune system . in this context gp96 serves as a potent adjuvant , or immune stimulator , via toll-like receptor 4/2 ( tlr4 and tlr2 ) signaling which serves to activate apcs to specialized dendritic cells that upregulate t-cell costimulatory ligands , mhc and immune activating cytokine . it is among the most powerful adjuvants found in the body and uniquely shows exclusive specificity to cd8+ killer t-cells through cross-presentation of the gp96-chaperoned tumor associated peptide antigens directly to mhc class i molecules for direct activation and expansion of cd8+ t-cells . thus , gp96 plays a critical role in the mechanism of action for heat 's t-cell activating platform immuno-therapies ; mimicking necrotic cell death and activating a powerful , tumor antigen-specific t-cell immune response to attack the patient 's cancer cells . compact  , our second tcap , is a dual-acting immunotherapy designed to deliver antigen driven t-cell activation and specific co-stimulation in a single product . compact  helps unlock the body 's natural defenses and builds upon impact ® by providing specific co-stimulation to enhance t-cell activation and expansion . it has the potential to simplify combination immunotherapy development for oncology patients , as it is designed to deliver the gp96 heat shock protein and a t-cell co-stimulatory fusion protein ( ox40l ) as a single therapeutic , without the need for multiple , independent biologic products . the potential advantages of compact  include : ( a ) enhanced activation of antigen-specific cd8+ t-cells ; ( b ) serving as a booster to expand the number of antigen-specific cd8+ t-cells compared to ox40l alone ; ( c ) stimulation of t-cell memory function to remain effective in the body after treatment , even if the cancer comes back ; ( d ) demonstration of less toxicity , as the source of cancer associated antigens and co-stimulator are supplied at the same time locally and the draining lymph nodes , which drive targeted , cancer specific immunity towards the tumor rather than throughout the body ; and ( e ) a potential paradigm shift that is designed to simplify combination cancer immunotherapy versus systemic co-stimulation with conventional monoclonal antibodies ( mabs ) . 46 pelican , our subsidiary , is a biotechnology company focused on the development of biologic based therapies designed to activate the immune system , including the monoclonal antibody , ptx-35 . ptx-35 , which is currently focused on preclinical ind enabling activities , is pelican 's lead product candidate targeting the t-cell co-stimulator , tnfrsf25 . it is designed to harness the body 's natural antigen specific immune activation and tolerance mechanisms to reprogram immunity and provide a long-term , durable clinical effect . tnfrsf25 agonism has been shown to provide highly selective and potent stimulation of antigen experienced memory ' cd8+ cytotoxic t-cells , which are the class of long-lived t-cells capable of eliminating tumor cells in patients . due to the preferential specificity of ptx-35 to antigen experienced cd8+ t-cells , this agent represents a promising candidate as a t-cell co-stimulator in cancer patients . when combined in preclinical studies with impact ® and compact  platform immunotherapies , ptx-35 has been shown to enhance antigen specific t-cell activation to eliminate tumor cells . pelican is also developing other biologics that target tnfrsf25 for various immunotherapy approaches , including ptx-45 , a human tl1a-lg fusion protein designed as a shorter half-life agonist of tnfrsf25 . we continue to enroll patients in our hs-110 combination immunotherapy trial , preparing for ind submission of hs-130 ( compact  ) , advancing pre-clinical development of pelican assets in anticipation of an ind submission , providing general and administrative support for these operations and protecting our intellectual property . we currently do not have any products approved for sale and we have not generated any significant revenue since our inception and no revenue from product sales . we expect to continue to incur significant expenses and to incur increasing operating losses for at least the next several years . story_separator_special_tag 2018-08 should assist entities in ( 1 ) evaluating whether transactions should be accounted for as contributions ( nonreciprocal transaction ) within the scope of topic 958 , not-for-profit entities , or as exchange ( reciprocal ) transactions subject to other guidance and ( 2 ) determining whether a contribution is conditional . this amendment applies to all entities that make or receive grants or contributions . this asu is effective for public companies serving as a resource recipient for fiscal years beginning after june 15 , 2018 , including interim periods within that fiscal year . we do not anticipate asu 2018-08 to have a material impact to our consolidated financial statements . 50 in january 2017 , the fasb issued asu no . 2017-01 , business combinations ( topic 805 ) to clarify the definition of a business , which is fundamental in the determination of whether transactions should be accounted for as acquisitions ( or disposals ) of assets or businesses combinations . the updated guidance requires that in order to be considered a business the integrated set of assets and activities acquired must include , at a minimum , an input and process that contribute to the ability to create output . if substantially all of the fair value of the assets acquired is concentrated in a single identifiable asset or group of similar assets , it is not considered a business , and therefore would not be considered a business combination . the update is effective for fiscal years beginning after december 15 , 2018 , and interim periods with fiscal years beginning after december 15 , 2019 , with early adoption permitted . we do not anticipate asu 2017-01 to have a material the impact to our consolidated financial statements . in august 2016 , the fasb issued asu 2016-18 , statement of cash flows ( topic 230 ) restricted cash . asu 2016-18 requires the statement of cash flows to be a reconciliation between beginning and ending cash balances inclusive of restricted cash balances . asu 2016-18 is effective for fiscal years beginning after december 15 , 2017 and is to be applied using a retrospective transition method to each period presented . we adopted this asu for the year ending december 31 , 2018. the adoption of this standard resulted in the removal of changes in restricted cash from the consolidated statements of cash flows of $ 2,292 and $ 101,176 for the years ended december 31 , 2018 and 2017 , respectively and inclusion of these amounts as part of the starting and ending cash balances . in february 2016 , the fasb issued asu 2016-02 , leases ( topic 842 ) , requiring lessees to recognize for all leases ( with the exception of short-term leases ) at the commencement date : ( 1 ) a lease liability , which is a lessee 's obligation to make lease payments arising from a lease , measured on a discounted basis , and ( 2 ) a right-of-use ( rou ) asset , which is an asset that represents the lessee 's right to use , or control the use of , a specified asset for the lease term . the update is effective for fiscal years beginning after december 15 , 2019 , and interim periods within fiscal years beginning after december 15 , 2020. we currently anticipate that upon adoption of the new standard , rou assets and lease liabilities will be recognized in amounts that will be immaterial to the consolidated balance sheets . in may 2014 , the fasb issued asu no . 2014-09 , revenue from contracts with customers ( asu 2014-09 ) , which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers . the asu will replace most existing revenue recognition guidance in u.s. gaap when it becomes effective . in july 2015 , the fasb voted to defer the effective date of the new standard until fiscal years beginning after december 15 , 2017 with early application permitted for fiscal years beginning after december 15 , 2016. grant revenue is recognized as work is performed and qualifying costs are incurred . we adopted the modified retrospective method of adoption in early 2018 and there was no material effect on the timing and measurement of revenue . results of operations year ended december 31 , 2018 and 2017 revenues the cprit grant is subject to customary cprit funding conditions including a matching funds requirement where pelican will match $ 0.50 for every $ 1.00 from cprit . consequently , pelican is required to raise $ 7.6 million in matching funds over the three year project . as of december 31 , 2018 , cprit has provided $ 8.3 million of the total $ 15.2 million grant . the remaining $ 6.9 million is expected to become available in the third cprit fiscal year ( june 2018 through may 2019 ) . as of december 31 , 2018 , we have provided approximately $ 5.2 million in funding of which $ 4.1 million was used to satisfy pelican 's matching fund obligation under the first two years of the cprit grant and we have approximately $ 3.5 million remaining to provide for the third cprit fiscal year . upon commercialization of the product , the terms of the grant contract require pelican to pay tiered royalties in the low to mid-single digit percentages . such royalties reduce to less than one percent after a mid-single-digit multiple of the grant funds have been paid to cprit in royalties . we recognized grant revenue of approximately $ 5.8 million for the year ended december 31 , 2018 for qualified expenditures under the grant . we recognized $ 1.5 million grant revenue related to cprit during the year ended december 31 , 2017. as of december 31 , 2018 , we had

