XML 49 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities    
Net loss $ (4,503,675) $ (1,238,974)
Adjustments to reconcile net loss to net cash used in operating activities:    
Fair value adjustment of warrant liabilities 2,647,048 (682,192)
Depreciation and amortization 21,490 33,943
Provision for doubtful accounts    (8,174)
Stock-based compensation 8,287 19,527
Changes in assets and liabilities:    
Receivables 3,358 67,378
Prepaid expenses and other assets 26,492 285,039
Accounts payable, accrued expenses and accrued salaries and benefits (264,901) (285,549)
Deferred rent (769) (7,252)
Deferred revenue    32,404
Net cash used in activities of continuing operations (2,062,670) (1,783,850)
Net cash provided by activities of discontinued operations 84,327 17,636
Net cash used in operating activities (1,978,343) (1,766,214)
Cash flow from investing activities    
Purchase of fixed assets    (1,599)
Net cash used in investing activities    (1,599)
Cash flow from financing activities    
Proceeds from issuance of preferred stock 500,000   
Proceeds from issuance of common stock, net    1,055,353
Net cash provided by financing activities 500,000 1,055,353
Net decrease in cash and cash equivalents (1,478,343) (712,460)
Cash and cash equivalents, beginning of period 4,498,237 4,911,350
Cash and cash equivalents, end of period 3,019,894 4,198,890
Supplemental disclosures of cash flow information:    
Interest paid      
Income taxes paid      
Non-cash financing activity:    
Issuance of Series C Convertible Preferred Stock in connection with exchange of warrants 5,695,935   
Conversion of Convertible Preferred Stock - Series C into common stock $ 7