XML 24 R7.htm IDEA: XBRL DOCUMENT v3.3.0.814
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating Activities    
Net loss $ (9,884,675) $ (4,093,287)
Depreciation and amortization 2,536,525 175,778
Amortization of debt discount and loan origination cost 191,650 147,023
Stock based compensation 1,229,073 866,106
Gain on the sale of trading securities (2,415,607) (2,926,073)
Changes in operating assets and liabilities:    
Accounts receivable (6,756,799) (81,961)
Inventory 440,883 (241,770)
Prepaids and other assets (1,179,430) (1,059,109)
Accounts payable and accrued expenses 3,024,703 1,487,533
Other assets 17,018 (1,125,449)
Net cash used in operating activities (12,813,677) (5,725,760)
Investing Activities    
Purchases of equipment $ (7,371,601) (11,771,206)
Deposits paid for fixed asset purchases (2,688,416)
Proceeds from sale of trading securities $ 10,775,501 7,925,655
Purchase of trading securities (6,999,127) (4,999,582)
Net cash used in investing activities (3,595,227) (11,533,549)
Financing Activities    
Proceeds from sale of common stock 35,327,690 10,302,400
Sale of common stock issuance cost $ (3,087,805) (471,216)
Proceeds from convertible debt 11,863,885
Convertible debt cost (732,476)
Proceeds from exercise of stock options 315
Proceeds from notes payable $ 400,000 15,015
Payments on notes payable (1,539,596) (168,354)
Payments on capital lease (440,171) (132,126)
Net cash provided by financing activities 30,660,118 20,677,128
Net increase in cash and cash equivalents 14,251,214 3,417,819
Cash and cash equivalents, beginning of period 7,013,556 4,292,122
Cash and cash equivalents, end of period 21,264,770 7,709,941
Supplemental Disclosure of Cash Flow Information    
Cash paid during the year for interest $ 2,948,086 $ 649,748
Cash paid during the year for income taxes
Non-cash transactions    
Fixed asset additions in accrued expenses $ 379,111
Interest converted to common stock $ 2,485,162
Private placement issuance cost $ 5,522
Debt issuance cost 8,973
Prepaids amortized to settle capital lease obligations $ 250,850