on july 31 , 2017 , jaguar animal health , inc. , or jaguar , completed a merger with napo pursuant to the agreement and plan of merger dated march 31 , 2017 by and among jaguar , napo , napo acquisition corporation ( `` merger sub `` ) , and napo 's representative ( the `` merger agreement `` ) . in accordance with the terms of the merger agreement , upon the completion of the merger , merger sub merged with and into napo , with napo surviving as our wholly-owned subsidiary . immediately following the napo merger , jaguar changed its name from `` jaguar animal health , inc. `` to `` jaguar health , inc. `` napo now operates 80 as a wholly-owned subsidiary of jaguar focused on human health and the ongoing commercialization of mytesi , a napo drug product approved by the u.s. fda for the symptomatic relief of noninfectious diarrhea in adults with hiv/aids on antiretroviral therapy . on a consolidated basis , we have not yet generated enough revenue to date to achieve break even or positive cash flow , and we expect to continue to incur significant research and development and other expenses . our net loss and comprehensive loss was $ 22.0 million and $ 14.7 million for the years ended december 31 , 2017 and 2016 , respectively . as of december 31 , 2017 , we had total stockholders ' equity of $ 17.3 million and cash and cash equivalents of $ 520,698. we expect to continue to incur losses for the foreseeable future as we expand our product development activities , seek necessary approvals for our product candidates , conduct species-specific formulation studies for our non-prescription products , establish api manufacturing capabilities and begin commercialization activities . as a result , we expect to experience increased expenditures for 2018. revenue recognition we recognize revenue in accordance with asc 605 `` revenue recognition `` , subtopic asc 605-25 `` revenue with multiple element arrangements `` and subtopic asc 605-28 `` revenue recognitionmilestone method `` , which provides accounting guidance for revenue recognition for arrangements with multiple deliverables and guidance on defining the milestone and determining when the use of the milestone method of revenue recognition for research and development transactions is appropriate , respectively . for multiple-element arrangements , each deliverable within a multiple deliverable revenue arrangement is accounted for as a separate unit of accounting if both of the following criteria are met : ( 1 ) the delivered item or items have value to the customer on a standalone basis and ( 2 ) for an arrangement that includes a general right of return relative to the delivered item ( s ) , delivery or performance of the undelivered item ( s ) is considered probable and substantially in our control . if a deliverable in a multiple element arrangement is not deemed to have a stand-alone value , consideration received for such a deliverable is recognized ratably over the term of the arrangement or the estimated performance period , and it will be periodically reviewed based on the progress of the related product development plan . the effect of a change made to an estimated performance period and therefore revenue recognized ratably would occur on a prospective basis in the period that the change was made . we recognize revenue under its licensing , development , co-promotion and commercialization agreement from milestone payments when : ( i ) the milestone event is substantive and its achievability has substantive uncertainty at the inception of the agreement , and ( ii ) it does not have ongoing performance obligations related to the achievement of the milestone earned . milestone payments are considered substantive if all of the following conditions are met : the milestone payment ( a ) is commensurate with either our performance subsequent to the inception of the arrangement to achieve the milestone or the enhancement of the value of the delivered item or items as a result of a specific outcome resulting from our performance subsequent to the inception of the arrangement to achieve the milestone , ( b ) relates solely to past performance , and ( c ) is reasonable relative to all of the deliverables and payment terms ( including other potential milestone consideration ) within the arrangement . we record revenue related to the reimbursement of costs incurred under the collaboration agreement where the company acts as principal , controls the research and development activities and bears credit risk . under the agreement , we are reimbursed for associated out-of-pocket costs and for certain employee costs . the gross amount of these pass-through costs is reported in revenue in the accompanying statements of operations and comprehensive loss , while the actual expense for which we are reimbursed are reflected as research and development costs . determining whether and when some of these revenue recognition criteria have been satisfied often involves assumptions and judgments that can have a significant impact on the timing and amount of revenue we will report . changes in assumptions or judgments or changes to the elements in an 81 arrangement could cause a material increase or decrease in the amount of revenue that we report in a particular period . product revenue sales of neonorm calf and foal to distributors are made under agreements that may provide distributor price adjustments and rights of return under certain circumstances . beginning the three months ended december 2017 , we developed sufficient sales history and pipeline visibility to recognize revenue when risk and title of products are transferred to the distributors . story_separator_special_tag option grants year over year . other expenses , consisting primarily of consulting and formulation expenses , decreased $ 697,224 from $ 1,710,793 in the year ended december 31 , 2016 to $ 1,013,569 in the same period in 2017. consulting expenses decreased $ 540,559 from $ 1,047,285 in the year ended december 31 , 2016 to $ 506,726 in the same period in 2017 consistent with the decrease in contractor utilization to assist in our clinical trials and in chemistry , manufacturing and controls ( `` cmc `` ) activities . formulation expenses decreased $ 154,180 from $ 420,143 in the year ended december 31 , 2016 to $ 265,963 for the same period in 2017 due to an decrease in work needed for clinical operations . we plan to increase our research and development expense as we continue developing our drug candidates . our research and development expenses include $ 1,014,820 of napo research and development expenses for the five month period from the july 31 , 2017 acquisition . we continued to increase our level of support for the reforestation of croton lechleri trees in south america , which is reflected in an increase in spend of $ 134,616 from $ 113,393 in the year ended december 31 , 2016 to $ 248,010 in the same period in 2017. we value and take to heart the responsibility to replenish trees consumed in order to extract the raw material to manufacture our primary commercial product and the drug product for use in clinical trials . 87 sales and marketing expense the following table presents the components of sales and marketing expense for the years ended december 31 , 2017 and 2016 together with the change in such components in dollars and as a percentage : replace_table_token_4_th our sales and marketing expense increased $ 2,598,299 from $ 485,440 in the year ended december 31 , 2016 to $ 3,083,739 in the same period in 2017. personnel and related benefits increased $ 555,844 from $ 198,100 in the year ended december 31 , 2016 to $ 753,944 in the same period in 2017 due to headcount changes year over year , net of $ 42,703 in employee leasing chargebacks to napo for services rendered in the seven months ended july 31 , 2017 over the year ended december 31 , 2016. stock based compensation expense decreased $ 41,354 from $ 73,679 in the year ended december 31 , 2016 to $ 32,325 in the same period in 2017 due to new options granted at a much lower fair value due to a lower strike price and a lower fair market value . direct marketing and sales expense increased $ 1,375,452 from $ 116,417 in the year ended december 31 , 2016 to $ 1,491,869 for the same period in 2017 due to an increase in marketing programs to promote the napo mytesi product . other expenses , consisted primarily of travel expense , consulting expense and royalty expense , which collectively increased $ 708,357 from $ 97,244 in the year ended december 31 , 2016 to $ 805,601 in the same period in 2017. we plan to expand sales and marketing spend to promote our mytesi products . sales and marketing expenses include $ 2,519,701 in napo sales and marketing expenses for the five month period from the july 31 , 2017 acquisition . general and administrative expense the following table presents the components of general and administrative expense for the years ended december 31 , 2017 and 2016 together with the change in such components in dollars and as a percentage : replace_table_token_5_th 88 our general and administrative expenses increased $ 5,264,409 from $ 5,983,238 in the year ended december 31 , 2016 to $ 11,247,647 for the same period in 2017 due primarily to $ 3,521,751 in merger related expenses incurred in the year ended december 31 , 2017 , including $ 858,103 in consulting services for a fairness opinion , $ 101,119 in other consulting services , $ 2,202,799 in estimated legal fees and $ 136,529 in estimated audit fees , and $ 223,201 in estimated printer and filing fees . personnel and related benefits decreased $ 294,677 from $ 2,104,809 in the year ended december 31 , 2016 to $ 1,810,132 in the same period in 2017 due to an increase of $ 60,232 in employee leasing chargebacks for services rendered in the seven months ended july 31 , 2017 versus the year ended december 31 , 2016 , a decrease in severance expense of $ 105,425 from $ 105,425 in the year ended december 31 , 2016 to $ 0 in the same period in 2017 , with the remainder of the decrease due to changes in headcount personnel and related salaries year over year , primarily at high paying executive levels . personnel and related benefits for the year ended december 31 , 2017 include $ 321,313 for napo 's personnel and related benefits for the five months from the july 31 , 2017 date of acquisition . stock-based compensation increased $ 102,597 from $ 462,759 in the year ended december 31 , 2016 to $ 565,356 in the same period in 2017 due primarily to expense associated with new grants to existing employees . public company expenses increased $ 486,376 from $ 291,253 in the year ended december 31 , 2016 to $ 777,629 in the same period in 2017 due primarily to the $ 223,201 in merger related printer expenses . in addition to the $ 136,529 of audit related merger fees discussed above , our annual , quarterly and other audit and accounting fees increased by another $ 292,737 resulting in an aggregate $ 429,266 increase in accounting fees from $ 311,693 in the year ended december 31 , 2016 to $ 740,959 in the same period in 2017. in addition to the $ 2,202,799 of legal related merger fees , our general corporate and public securities legal fees increased an

cash used in operating activities during the year ended december 31 , 2017 , cash used in operating activities of $ 9,824,940 resulted from our net loss of $ 22.0 million , adjusted by non-cash accretion of end of term payment , debt discounts and debt issuance costs of $ 600,000 , stock-based compensation of $ 815,000 , change in fair value of modified warrants of $ 23,000 , reduction in the fair value of warrant liability of $ 695,000 , loss on extinguishment of debt of $ 477,000 , stock issued in the merger in exchange for services $ 151,000 , common stock issued in exchange for services rendered of $ 44,000 , depreciation and amortization expenses of $ 584,000 , interest paid on the conversion of debt to equity of $ 79,000 , impairment of goodwill of $ 16.8 million , impairment of long-lived intangible assets of $ 2,300,000 deferred income benefit of $ 13.2 million , and gain on revaluation of derivative liability of $ 9,000 , net of changes in operating assets and liabilities of $ 4.1 million . during the year ended december 31 , 2016 , cash used in operating activities of $ 14.4 million resulted from our net loss of $ 14.7 million , offset by non-cash accretion of end of term payment , debt discounts and debt issuance costs of $ 510,000 , stock-based compensation of $ 718,000 , loss on extinguishment of debt of $ 108,000 , depreciation expense of $ 47,000 , net of changes in operating assets and liabilities of $ 1.1 million . 93 cash provided by/used in investing activities during the year ended december 31 , 2017 , cash used in investing activities of $ 1,285,215 consisted of cash used in acquisition , net of cash acquired of $ 1.6 million offset by $ 272,000 of release of restricted cash that resulted from principal payments of our long-term debt .


 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.
     ```cash used in operating activities during the year ended december 31 , 2017 , cash used in operating activities of $ 9,824,940 resulted from our net loss of $ 22.0 million , adjusted by non-cash accretion of end of term payment , debt discounts and debt issuance costs of $ 600,000 , stock-based compensation of $ 815,000 , change in fair value of modified warrants of $ 23,000 , reduction in the fair value of warrant liability of $ 695,000 , loss on extinguishment of debt of $ 477,000 , stock issued in the merger in exchange for services $ 151,000 , common stock issued in exchange for services rendered of $ 44,000 , depreciation and amortization expenses of $ 584,000 , interest paid on the conversion of debt to equity of $ 79,000 , impairment of goodwill of $ 16.8 million , impairment of long-lived intangible assets of $ 2,300,000 deferred income benefit of $ 13.2 million , and gain on revaluation of derivative liability of $ 9,000 , net of changes in operating assets and liabilities of $ 4.1 million . during the year ended december 31 , 2016 , cash used in operating activities of $ 14.4 million resulted from our net loss of $ 14.7 million , offset by non-cash accretion of end of term payment , debt discounts and debt issuance costs of $ 510,000 , stock-based compensation of $ 718,000 , loss on extinguishment of debt of $ 108,000 , depreciation expense of $ 47,000 , net of changes in operating assets and liabilities of $ 1.1 million . 93 cash provided by/used in investing activities during the year ended december 31 , 2017 , cash used in investing activities of $ 1,285,215 consisted of cash used in acquisition , net of cash acquired of $ 1.6 million offset by $ 272,000 of release of restricted cash that resulted from principal payments of our long-term debt .
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 Suspicious Activity Report : on july 31 , 2017 , jaguar animal health , inc. , or jaguar , completed a merger with napo pursuant to the agreement and plan of merger dated march 31 , 2017 by and among jaguar , napo , napo acquisition corporation ( `` merger sub `` ) , and napo 's representative ( the `` merger agreement `` ) . in accordance with the terms of the merger agreement , upon the completion of the merger , merger sub merged with and into napo , with napo surviving as our wholly-owned subsidiary . immediately following the napo merger , jaguar changed its name from `` jaguar animal health , inc. `` to `` jaguar health , inc. `` napo now operates 80 as a wholly-owned subsidiary of jaguar focused on human health and the ongoing commercialization of mytesi , a napo drug product approved by the u.s. fda for the symptomatic relief of noninfectious diarrhea in adults with hiv/aids on antiretroviral therapy . on a consolidated basis , we have not yet generated enough revenue to date to achieve break even or positive cash flow , and we expect to continue to incur significant research and development and other expenses . our net loss and comprehensive loss was $ 22.0 million and $ 14.7 million for the years ended december 31 , 2017 and 2016 , respectively . as of december 31 , 2017 , we had total stockholders ' equity of $ 17.3 million and cash and cash equivalents of $ 520,698. we expect to continue to incur losses for the foreseeable future as we expand our product development activities , seek necessary approvals for our product candidates , conduct species-specific formulation studies for our non-prescription products , establish api manufacturing capabilities and begin commercialization activities . as a result , we expect to experience increased expenditures for 2018. revenue recognition we recognize revenue in accordance with asc 605 `` revenue recognition `` , subtopic asc 605-25 `` revenue with multiple element arrangements `` and subtopic asc 605-28 `` revenue recognitionmilestone method `` , which provides accounting guidance for revenue recognition for arrangements with multiple deliverables and guidance on defining the milestone and determining when the use of the milestone method of revenue recognition for research and development transactions is appropriate , respectively . for multiple-element arrangements , each deliverable within a multiple deliverable revenue arrangement is accounted for as a separate unit of accounting if both of the following criteria are met : ( 1 ) the delivered item or items have value to the customer on a standalone basis and ( 2 ) for an arrangement that includes a general right of return relative to the delivered item ( s ) , delivery or performance of the undelivered item ( s ) is considered probable and substantially in our control . if a deliverable in a multiple element arrangement is not deemed to have a stand-alone value , consideration received for such a deliverable is recognized ratably over the term of the arrangement or the estimated performance period , and it will be periodically reviewed based on the progress of the related product development plan . the effect of a change made to an estimated performance period and therefore revenue recognized ratably would occur on a prospective basis in the period that the change was made . we recognize revenue under its licensing , development , co-promotion and commercialization agreement from milestone payments when : ( i ) the milestone event is substantive and its achievability has substantive uncertainty at the inception of the agreement , and ( ii ) it does not have ongoing performance obligations related to the achievement of the milestone earned . milestone payments are considered substantive if all of the following conditions are met : the milestone payment ( a ) is commensurate with either our performance subsequent to the inception of the arrangement to achieve the milestone or the enhancement of the value of the delivered item or items as a result of a specific outcome resulting from our performance subsequent to the inception of the arrangement to achieve the milestone , ( b ) relates solely to past performance , and ( c ) is reasonable relative to all of the deliverables and payment terms ( including other potential milestone consideration ) within the arrangement . we record revenue related to the reimbursement of costs incurred under the collaboration agreement where the company acts as principal , controls the research and development activities and bears credit risk . under the agreement , we are reimbursed for associated out-of-pocket costs and for certain employee costs . the gross amount of these pass-through costs is reported in revenue in the accompanying statements of operations and comprehensive loss , while the actual expense for which we are reimbursed are reflected as research and development costs . determining whether and when some of these revenue recognition criteria have been satisfied often involves assumptions and judgments that can have a significant impact on the timing and amount of revenue we will report . changes in assumptions or judgments or changes to the elements in an 81 arrangement could cause a material increase or decrease in the amount of revenue that we report in a particular period . product revenue sales of neonorm calf and foal to distributors are made under agreements that may provide distributor price adjustments and rights of return under certain circumstances . beginning the three months ended december 2017 , we developed sufficient sales history and pipeline visibility to recognize revenue when risk and title of products are transferred to the distributors . story_separator_special_tag option grants year over year . other expenses , consisting primarily of consulting and formulation expenses , decreased $ 697,224 from $ 1,710,793 in the year ended december 31 , 2016 to $ 1,013,569 in the same period in 2017. consulting expenses decreased $ 540,559 from $ 1,047,285 in the year ended december 31 , 2016 to $ 506,726 in the same period in 2017 consistent with the decrease in contractor utilization to assist in our clinical trials and in chemistry , manufacturing and controls ( `` cmc `` ) activities . formulation expenses decreased $ 154,180 from $ 420,143 in the year ended december 31 , 2016 to $ 265,963 for the same period in 2017 due to an decrease in work needed for clinical operations . we plan to increase our research and development expense as we continue developing our drug candidates . our research and development expenses include $ 1,014,820 of napo research and development expenses for the five month period from the july 31 , 2017 acquisition . we continued to increase our level of support for the reforestation of croton lechleri trees in south america , which is reflected in an increase in spend of $ 134,616 from $ 113,393 in the year ended december 31 , 2016 to $ 248,010 in the same period in 2017. we value and take to heart the responsibility to replenish trees consumed in order to extract the raw material to manufacture our primary commercial product and the drug product for use in clinical trials . 87 sales and marketing expense the following table presents the components of sales and marketing expense for the years ended december 31 , 2017 and 2016 together with the change in such components in dollars and as a percentage : replace_table_token_4_th our sales and marketing expense increased $ 2,598,299 from $ 485,440 in the year ended december 31 , 2016 to $ 3,083,739 in the same period in 2017. personnel and related benefits increased $ 555,844 from $ 198,100 in the year ended december 31 , 2016 to $ 753,944 in the same period in 2017 due to headcount changes year over year , net of $ 42,703 in employee leasing chargebacks to napo for services rendered in the seven months ended july 31 , 2017 over the year ended december 31 , 2016. stock based compensation expense decreased $ 41,354 from $ 73,679 in the year ended december 31 , 2016 to $ 32,325 in the same period in 2017 due to new options granted at a much lower fair value due to a lower strike price and a lower fair market value . direct marketing and sales expense increased $ 1,375,452 from $ 116,417 in the year ended december 31 , 2016 to $ 1,491,869 for the same period in 2017 due to an increase in marketing programs to promote the napo mytesi product . other expenses , consisted primarily of travel expense , consulting expense and royalty expense , which collectively increased $ 708,357 from $ 97,244 in the year ended december 31 , 2016 to $ 805,601 in the same period in 2017. we plan to expand sales and marketing spend to promote our mytesi products . sales and marketing expenses include $ 2,519,701 in napo sales and marketing expenses for the five month period from the july 31 , 2017 acquisition . general and administrative expense the following table presents the components of general and administrative expense for the years ended december 31 , 2017 and 2016 together with the change in such components in dollars and as a percentage : replace_table_token_5_th 88 our general and administrative expenses increased $ 5,264,409 from $ 5,983,238 in the year ended december 31 , 2016 to $ 11,247,647 for the same period in 2017 due primarily to $ 3,521,751 in merger related expenses incurred in the year ended december 31 , 2017 , including $ 858,103 in consulting services for a fairness opinion , $ 101,119 in other consulting services , $ 2,202,799 in estimated legal fees and $ 136,529 in estimated audit fees , and $ 223,201 in estimated printer and filing fees . personnel and related benefits decreased $ 294,677 from $ 2,104,809 in the year ended december 31 , 2016 to $ 1,810,132 in the same period in 2017 due to an increase of $ 60,232 in employee leasing chargebacks for services rendered in the seven months ended july 31 , 2017 versus the year ended december 31 , 2016 , a decrease in severance expense of $ 105,425 from $ 105,425 in the year ended december 31 , 2016 to $ 0 in the same period in 2017 , with the remainder of the decrease due to changes in headcount personnel and related salaries year over year , primarily at high paying executive levels . personnel and related benefits for the year ended december 31 , 2017 include $ 321,313 for napo 's personnel and related benefits for the five months from the july 31 , 2017 date of acquisition . stock-based compensation increased $ 102,597 from $ 462,759 in the year ended december 31 , 2016 to $ 565,356 in the same period in 2017 due primarily to expense associated with new grants to existing employees . public company expenses increased $ 486,376 from $ 291,253 in the year ended december 31 , 2016 to $ 777,629 in the same period in 2017 due primarily to the $ 223,201 in merger related printer expenses . in addition to the $ 136,529 of audit related merger fees discussed above , our annual , quarterly and other audit and accounting fees increased by another $ 292,737 resulting in an aggregate $ 429,266 increase in accounting fees from $ 311,693 in the year ended december 31 , 2016 to $ 740,959 in the same period in 2017. in addition to the $ 2,202,799 of legal related merger fees , our general corporate and public securities legal fees increased an

