XML 29 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities    
Net loss $ (3,747,820) $ (4,083,743)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 539,470 252,982
Restricted stock issuance 763,966 0
Stock compensation expense 1,461,804 1,234,705
Increase in accounts receivable 0 (43,246)
Decrease in prepaid assets and other current assets 160,320 0
Increase in accounts payable 940,527 67,159
Increase in bonus accrual 273,675 0
Increase in deferred revenue 5,000,000 0
Net cash provided by (used in) operating activities 5,391,942 (2,572,143)
Cash flows from investing activities    
Purchase of property and equipment (8,857,640) (14,071)
Net cash used in investing activities (8,857,640) (14,071)
Cash flows from financing activities    
Proceeds from exercise of warrants, net 151,982 0
Proceeds from exercise of stock options, net 2,502,131 0
Proceeds from the issuance of common stock, net 41,219,893 0
Net cash provided by financing activities 43,874,006 0
Net increase (decrease) in cash and cash equivalents 40,408,308 (2,586,214)
Cash and cash equivalents, beginning of period 13,000,372 7,216,663
Cash and cash equivalents, end of period 53,408,680 4,630,449
Supplemental disclosures of cash flow information:    
Cash paid for interest 0 0
Cash paid for income taxes 0 0
Supplemental disclosures of non-cash financing information:    
Issuance of 399,629 shares of common stock in exchange for the cashless exercise of warrants to purchase 505,661 shares of common stock $ 2,151,182 $ 0