XML 59 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (16,953,551) $ (10,375,219)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense, net of recoveries 27,613 26,013
Depreciation and amortization 438,570 620,804
Stock-based compensation 548,589 387,895
Change in fair value of derivative liabilities 701,499 (244,560)
Non-cash interest expense:    
Amortization of deferred costs 268,739 133,987
Amortization of debt discount 77,378 101,094
Deferred income tax provision 9,290 9,780
Loss (Gain) on disposal of assets 0 6,261
Impairment of IPR&D and trademarks 4,683,829 0
Effect of amendment to contingent consideration 0 1,006,159
Loss on early extinguishment of debt 679,664 19,867
Effect of issuance of warrants for term loan modification 0 303,517
Change in operating assets and liabilities, net of those acquired:    
Accounts and other receivable, net 2,419,349 (522,244)
Inventory 519,878 (38,657)
Prepaid expenses and other current assets (1,137,746) (536,988)
Accounts payable and accrued expenses (689,441) 1,149,008
Deferred revenues (539,915) 8,006
Other liabilities 162,083 53,607
Net cash used in operating activities (8,784,172) (7,891,670)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Property and equipment acquisitions (76,213) (287,051)
Proceeds from sale of equipment 33,837 119,849
Net cash used in investing activities (42,376) (167,202)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of debt, net 33,048,466 4,235,797
Proceeds from issuance of common stock, net 3,666,260 4,851,738
Repayment of notes payable (6,201,143) (270,000)
Net cash provided by financing activities 30,513,583 8,817,535
Net increase in cash and cash equivalents 21,687,035 758,663
Cash and cash equivalents, beginning of period 3,286,713 2,615,805
Cash and cash equivalents, end of period $ 24,973,748 $ 3,374,468