XML 28 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
6 Months Ended 144 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (4,610,000) $ (5,519,000) $ (66,927,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 4,000 5,000 550,000
Stock-based compensation expense 1,352,000 2,039,000 10,934,000
Non-cash interest expense     4,279,000
Change in fair value of convertible debt instrument     3,426,000
Change in fair value of warrant liabilities   524,000 (9,022,000)
Write off of intangible assets     351,000
Changes in operating assets and liabilities:      
Grant receivable   234,000  
Prepaid expenses and other current assets 19,000 (1,000) (84,000)
Accounts payable and accrued expenses (435,000) (156,000) 1,770,000
Other long-term liabilities   (9,000)  
Net cash used in operating activities (3,670,000) (2,883,000) (54,723,000)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment     (426,000)
Change in restricted cash   (5,000) (69,000)
Increase in patents costs and other assets     (404,000)
Net cash used in investing activities   (5,000) (899,000)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net proceeds from issuance of convertible debt instruments     10,621,000
Repayment of convertible debt instruments     (1,641,000)
Proceeds from exercise of common stock warrants and options   4,851,000 11,293,000
Proceeds from shareholder advances     9,000
Net cash provided by financing activities 10,403,000 4,981,000 68,752,000
NET INCREASE IN CASH AND CASH EQUIVALENTS 6,733,000 2,093,000 13,130,000
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 6,397,000 5,891,000  
CASH AND CASH EQUIVALENTS, END OF PERIOD 13,130,000 7,984,000 13,130,000
SUPPLEMENTAL DISCLOSURE - Cash paid for interest     114,000
NONCASH FINANCING ACTIVITIES:      
Issuance of equity warrants in connection with equity offerings 4,445,000   9,482,000
Conversion of accrued expenses into common stock 16,000   319,000
Cashless exercise of common stock options and warrants 190,000   629,000
Conversion and redemption of convertible notes and accrued interest into common stock     12,243,000
Conversion of extension costs related to convertible notes into common stock     171,000
Payment of preferred stock dividends in common stock 464,000 1,022,000 3,643,000
Issuance of warrants to induce conversion of notes payable     503,000
Issuance of stock to acquire Pro-Pharmaceuticals-NV     107,000
Common Stock
     
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net proceeds from issuance of stock and warrants 10,403,000   39,093,000
Series A 12% convertible preferred stock
     
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net proceeds from issuance of stock and warrants     1,691,000
Series B-1 12% redeemable convertible preferred stock
     
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net proceeds from issuance of stock and warrants     1,548,000
Series B-2 12% redeemable convertible preferred stock
     
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net proceeds from issuance of stock and warrants     3,935,000
Series C super dividend convertible preferred stock
     
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net proceeds from issuance of stock and warrants   $ 130,000 $ 2,203,000