our ability to continue as a going concern is dependent upon our accomplishment of the plans described in the preceding paragraph and eventually to attain profitable operations . the accompanying consolidated financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern . if we are unable to obtain adequate capital , we could be forced to cease operations . story_separator_special_tag replace_table_token_4_th other expenses for the years ended december 31 , 2018 and december 31 , 2017 , the company 's other expenses ( comprised of interest expense ) were $ 110,924 and $ 73,133 , respectively . net loss for the year ended december 31 , 2018 , the company 's net loss was $ 18.0 million , an increase of approximately $ 3.2 million , or 22 % , in comparison to a net loss of $ 14.8 million for the year ended december 31 , 2017. the change was a result of the factors described above . going concern we have not attained profitable operations and are dependent upon obtaining external financing to continue to pursue our operational and strategic plans . for these reasons , management has determined that there is substantial doubt that the business will be able to continue as a going concern without further financing . off-balance sheet arrangements we have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition , changes in financial condition , revenues or expenses , results of operations , liquidity , capital expenditures or capital resources that are material to stockholders . future equity or debt financings we may seek to obtain additional capital through the sale of debt or equity securities , if we deem it desirable or necessary . however , we may be unable to obtain such additional capital when needed , or on terms favorable to us or our stockholders , if at all . if we raise additional funds by issuing equity securities , the percentage ownership of our stockholders will be reduced , stockholders may experience additional dilution , or such equity securities may provide for rights , preferences or privileges senior to those of the holders of our common stock . if additional funds are raised through the issuance of debt securities , the terms of such securities may place restrictions on our ability to operate our business . critical accounting policies our consolidated financial statements and accompanying notes have been prepared in accordance with united states generally accepted accounting principles , or u.s. gaap , applied on a consistent basis . the preparation of financial statements in conformity with u.s. gaap requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities , the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods . we regularly evaluate the accounting policies and estimates that we use to prepare our financial statements . a complete summary of these policies is included in the notes to our financial statements . in general , management 's estimates are based on historical experience , on information from third party professionals , and on various other assumptions that are believed to be reasonable under the facts and circumstances . actual results could differ from those estimates made by management . 22 we consider the following accounting policies to be critical : stock-based compensation the company records stock-based compensation in accordance with asc 718 , compensation – stock compensation and asc 505-50 , equity-based payments to non-employees . all transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued , whichever is more reliably measurable . equity instruments issued to employees and the cost of the services received as consideration are measured and recognized based on the fair value of the equity instruments issued and are recognized over the employees required service period , which is generally the vesting period . impairment of long-lived assets in accordance with asc 360 , property plant and equipment , the company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable . circumstances which could trigger a review include , but are not limited to : significant decreases in the market price of the asset ; significant adverse changes in the business climate or legal factors ; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset ; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset ; and current expectation that the asset will more likely than not be sold or disposed of significantly before the end of its estimated useful life . recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset , as well as specific appraisal in certain instances . an impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value . impairment losses of $ nil and $ nil were recognized during the years ended december 31 , 2018 and december 31 , 2017 , respectively . foreign currency translation the company has functional currencies in the euro , the united states dollar and british pounds sterling and its reporting currency is the united states dollar . management has adopted asc 830-20 , foreign currency matters – foreign currency transactions . all assets and liabilities denominated in foreign currencies story_separator_special_tag our ability to continue as a going concern is dependent upon our accomplishment of the plans described in the preceding paragraph and eventually to attain profitable operations . the accompanying consolidated financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern . if we are unable to obtain adequate capital , we could be forced to cease operations . story_separator_special_tag replace_table_token_4_th other expenses for the years ended december 31 , 2018 and december 31 , 2017 , the company 's other expenses ( comprised of interest expense ) were $ 110,924 and $ 73,133 , respectively . net loss for the year ended december 31 , 2018 , the company 's net loss was $ 18.0 million , an increase of approximately $ 3.2 million , or 22 % , in comparison to a net loss of $ 14.8 million for the year ended december 31 , 2017. the change was a result of the factors described above . going concern we have not attained profitable operations and are dependent upon obtaining external financing to continue to pursue our operational and strategic plans . for these reasons , management has determined that there is substantial doubt that the business will be able to continue as a going concern without further financing . off-balance sheet arrangements we have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition , changes in financial condition , revenues or expenses , results of operations , liquidity , capital expenditures or capital resources that are material to stockholders . future equity or debt financings we may seek to obtain additional capital through the sale of debt or equity securities , if we deem it desirable or necessary . however , we may be unable to obtain such additional capital when needed , or on terms favorable to us or our stockholders , if at all . if we raise additional funds by issuing equity securities , the percentage ownership of our stockholders will be reduced , stockholders may experience additional dilution , or such equity securities may provide for rights , preferences or privileges senior to those of the holders of our common stock . if additional funds are raised through the issuance of debt securities , the terms of such securities may place restrictions on our ability to operate our business . critical accounting policies our consolidated financial statements and accompanying notes have been prepared in accordance with united states generally accepted accounting principles , or u.s. gaap , applied on a consistent basis . the preparation of financial statements in conformity with u.s. gaap requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities , the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods . we regularly evaluate the accounting policies and estimates that we use to prepare our financial statements . a complete summary of these policies is included in the notes to our financial statements . in general , management 's estimates are based on historical experience , on information from third party professionals , and on various other assumptions that are believed to be reasonable under the facts and circumstances . actual results could differ from those estimates made by management . 22 we consider the following accounting policies to be critical : stock-based compensation the company records stock-based compensation in accordance with asc 718 , compensation – stock compensation and asc 505-50 , equity-based payments to non-employees . all transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued , whichever is more reliably measurable . equity instruments issued to employees and the cost of the services received as consideration are measured and recognized based on the fair value of the equity instruments issued and are recognized over the employees required service period , which is generally the vesting period . impairment of long-lived assets in accordance with asc 360 , property plant and equipment , the company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable . circumstances which could trigger a review include , but are not limited to : significant decreases in the market price of the asset ; significant adverse changes in the business climate or legal factors ; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset ; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset ; and current expectation that the asset will more likely than not be sold or disposed of significantly before the end of its estimated useful life . recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset , as well as specific appraisal in certain instances . an impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value . impairment losses of $ nil and $ nil were recognized during the years ended december 31 , 2018 and december 31 , 2017 , respectively . foreign currency translation the company has functional currencies in the euro , the united states dollar and british pounds sterling and its reporting currency is the united states dollar . management has adopted asc 830-20 , foreign currency matters – foreign currency transactions . all assets and liabilities denominated in foreign currencies

liquidity and capital resources we have financed our operations since inception primarily through private placements and public offerings of our common stock . as of december 31 , 2018 , we had cash and cash equivalents of approximately $ 13.4 million . net cash used in operating activities was approximately $ 14.7 million and $ 12.2 million for the years ended december 31 , 2018 and december 31 , 2017 , respectively . the increase in cash used in operating activities for the period ended december 31 , 2018 when compared to same period in 2017 was primarily due to increased expenditures on research and development activities , and sales and marketing activities . net cash used in investing activities was approximately $ 0.3 million and $ 1.4 million for the years ended december 31 , 2018 and december 31 , 2017 , respectively . the decrease in cash used in investing activities for the period ended december 31 , 2018 when compared to same period in 2017 was primarily a result of the purchase of equipment and facility improvements for the new research and development facility in belgium in 2017. net cash provided by financing activities was approximately $ 18.0 million and $ 2.0 million for the years ended december 31 , 2018 and december 31 , 2017 , respectively . the increase in cash provided by financing activities for the period ended december 31 , 2018 when compared to same period in 2017 was primarily the result of $ 7.6 million in net cash proceeds raised in march 2018 through the sale and issuance of 3.5 million shares of common stock in a public offering , $ 8.9 million in net cash proceeds raised in august 2018 through a private placement of 5.0 million shares of common stock and the purchase of 0.3 million shares of common stock by warrant holders which resulted in $ 0.7 million in gross cash proceeds to the company .


 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 we have financed our operations since inception primarily through private placements and public offerings of our common stock . as of december 31 , 2018 , we had cash and cash equivalents of approximately $ 13.4 million . net cash used in operating activities was approximately $ 14.7 million and $ 12.2 million for the years ended december 31 , 2018 and december 31 , 2017 , respectively . the increase in cash used in operating activities for the period ended december 31 , 2018 when compared to same period in 2017 was primarily due to increased expenditures on research and development activities , and sales and marketing activities . net cash used in investing activities was approximately $ 0.3 million and $ 1.4 million for the years ended december 31 , 2018 and december 31 , 2017 , respectively . the decrease in cash used in investing activities for the period ended december 31 , 2018 when compared to same period in 2017 was primarily a result of the purchase of equipment and facility improvements for the new research and development facility in belgium in 2017. net cash provided by financing activities was approximately $ 18.0 million and $ 2.0 million for the years ended december 31 , 2018 and december 31 , 2017 , respectively . the increase in cash provided by financing activities for the period ended december 31 , 2018 when compared to same period in 2017 was primarily the result of $ 7.6 million in net cash proceeds raised in march 2018 through the sale and issuance of 3.5 million shares of common stock in a public offering , $ 8.9 million in net cash proceeds raised in august 2018 through a private placement of 5.0 million shares of common stock and the purchase of 0.3 million shares of common stock by warrant holders which resulted in $ 0.7 million in gross cash proceeds to the company .
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 Suspicious Activity Report : our ability to continue as a going concern is dependent upon our accomplishment of the plans described in the preceding paragraph and eventually to attain profitable operations . the accompanying consolidated financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern . if we are unable to obtain adequate capital , we could be forced to cease operations . story_separator_special_tag replace_table_token_4_th other expenses for the years ended december 31 , 2018 and december 31 , 2017 , the company 's other expenses ( comprised of interest expense ) were $ 110,924 and $ 73,133 , respectively . net loss for the year ended december 31 , 2018 , the company 's net loss was $ 18.0 million , an increase of approximately $ 3.2 million , or 22 % , in comparison to a net loss of $ 14.8 million for the year ended december 31 , 2017. the change was a result of the factors described above . going concern we have not attained profitable operations and are dependent upon obtaining external financing to continue to pursue our operational and strategic plans . for these reasons , management has determined that there is substantial doubt that the business will be able to continue as a going concern without further financing . off-balance sheet arrangements we have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition , changes in financial condition , revenues or expenses , results of operations , liquidity , capital expenditures or capital resources that are material to stockholders . future equity or debt financings we may seek to obtain additional capital through the sale of debt or equity securities , if we deem it desirable or necessary . however , we may be unable to obtain such additional capital when needed , or on terms favorable to us or our stockholders , if at all . if we raise additional funds by issuing equity securities , the percentage ownership of our stockholders will be reduced , stockholders may experience additional dilution , or such equity securities may provide for rights , preferences or privileges senior to those of the holders of our common stock . if additional funds are raised through the issuance of debt securities , the terms of such securities may place restrictions on our ability to operate our business . critical accounting policies our consolidated financial statements and accompanying notes have been prepared in accordance with united states generally accepted accounting principles , or u.s. gaap , applied on a consistent basis . the preparation of financial statements in conformity with u.s. gaap requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities , the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods . we regularly evaluate the accounting policies and estimates that we use to prepare our financial statements . a complete summary of these policies is included in the notes to our financial statements . in general , management 's estimates are based on historical experience , on information from third party professionals , and on various other assumptions that are believed to be reasonable under the facts and circumstances . actual results could differ from those estimates made by management . 22 we consider the following accounting policies to be critical : stock-based compensation the company records stock-based compensation in accordance with asc 718 , compensation – stock compensation and asc 505-50 , equity-based payments to non-employees . all transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued , whichever is more reliably measurable . equity instruments issued to employees and the cost of the services received as consideration are measured and recognized based on the fair value of the equity instruments issued and are recognized over the employees required service period , which is generally the vesting period . impairment of long-lived assets in accordance with asc 360 , property plant and equipment , the company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable . circumstances which could trigger a review include , but are not limited to : significant decreases in the market price of the asset ; significant adverse changes in the business climate or legal factors ; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset ; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset ; and current expectation that the asset will more likely than not be sold or disposed of significantly before the end of its estimated useful life . recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset , as well as specific appraisal in certain instances . an impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value . impairment losses of $ nil and $ nil were recognized during the years ended december 31 , 2018 and december 31 , 2017 , respectively . foreign currency translation the company has functional currencies in the euro , the united states dollar and british pounds sterling and its reporting currency is the united states dollar . management has adopted asc 830-20 , foreign currency matters – foreign currency transactions . all assets and liabilities denominated in foreign currencies story_separator_special_tag our ability to continue as a going concern is dependent upon our accomplishment of the plans described in the preceding paragraph and eventually to attain profitable operations . the accompanying consolidated financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern . if we are unable to obtain adequate capital , we could be forced to cease operations . story_separator_special_tag replace_table_token_4_th other expenses for the years ended december 31 , 2018 and december 31 , 2017 , the company 's other expenses ( comprised of interest expense ) were $ 110,924 and $ 73,133 , respectively . net loss for the year ended december 31 , 2018 , the company 's net loss was $ 18.0 million , an increase of approximately $ 3.2 million , or 22 % , in comparison to a net loss of $ 14.8 million for the year ended december 31 , 2017. the change was a result of the factors described above . going concern we have not attained profitable operations and are dependent upon obtaining external financing to continue to pursue our operational and strategic plans . for these reasons , management has determined that there is substantial doubt that the business will be able to continue as a going concern without further financing . off-balance sheet arrangements we have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition , changes in financial condition , revenues or expenses , results of operations , liquidity , capital expenditures or capital resources that are material to stockholders . future equity or debt financings we may seek to obtain additional capital through the sale of debt or equity securities , if we deem it desirable or necessary . however , we may be unable to obtain such additional capital when needed , or on terms favorable to us or our stockholders , if at all . if we raise additional funds by issuing equity securities , the percentage ownership of our stockholders will be reduced , stockholders may experience additional dilution , or such equity securities may provide for rights , preferences or privileges senior to those of the holders of our common stock . if additional funds are raised through the issuance of debt securities , the terms of such securities may place restrictions on our ability to operate our business . critical accounting policies our consolidated financial statements and accompanying notes have been prepared in accordance with united states generally accepted accounting principles , or u.s. gaap , applied on a consistent basis . the preparation of financial statements in conformity with u.s. gaap requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities , the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods . we regularly evaluate the accounting policies and estimates that we use to prepare our financial statements . a complete summary of these policies is included in the notes to our financial statements . in general , management 's estimates are based on historical experience , on information from third party professionals , and on various other assumptions that are believed to be reasonable under the facts and circumstances . actual results could differ from those estimates made by management . 22 we consider the following accounting policies to be critical : stock-based compensation the company records stock-based compensation in accordance with asc 718 , compensation – stock compensation and asc 505-50 , equity-based payments to non-employees . all transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued , whichever is more reliably measurable . equity instruments issued to employees and the cost of the services received as consideration are measured and recognized based on the fair value of the equity instruments issued and are recognized over the employees required service period , which is generally the vesting period . impairment of long-lived assets in accordance with asc 360 , property plant and equipment , the company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable . circumstances which could trigger a review include , but are not limited to : significant decreases in the market price of the asset ; significant adverse changes in the business climate or legal factors ; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset ; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset ; and current expectation that the asset will more likely than not be sold or disposed of significantly before the end of its estimated useful life . recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset , as well as specific appraisal in certain instances . an impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value . impairment losses of $ nil and $ nil were recognized during the years ended december 31 , 2018 and december 31 , 2017 , respectively . foreign currency translation the company has functional currencies in the euro , the united states dollar and british pounds sterling and its reporting currency is the united states dollar . management has adopted asc 830-20 , foreign currency matters – foreign currency transactions . all assets and liabilities denominated in foreign currencies

