XML 45 R5.htm IDEA: XBRL DOCUMENT v3.3.0.814
Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net loss $ (6,478,212) $ (4,857,021)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 160,993 103,250
Stock-based compensation 246,406 208,358
Warrant offering cost 0 50,874
Change in fair value of warrant liability (3,473,804) (1,554,411)
Changes in operating assets and liabilities:    
Accounts receivable (321,655) (220,868)
Inventories (392,422) (67,200)
Prepaid expenses and other current and long-term assets (484,063) (26,476)
Accounts payable 423,275 199,818
Accrued expenses and compensation 30,948 841,317
Deferred revenue 667,994 (32,570)
Net cash used in operating activities (9,620,540) (5,354,929)
Cash flows from investing activities:    
Purchases of fixed assets (594,606) (71,982)
Net cash used in investing activities (594,606) (71,982)
Cash flows from financing activities:    
Net proceeds from issuance of stock and warrants 13,316,324 7,918,179
Repurchase of Series A-4 preferred stock and warrants (3,206,357) 0
Net cash provided by financing activities 10,109,967 7,918,179
Net (decrease) increase in cash and cash equivalents (105,179) 2,491,268
Cash and cash equivalents, beginning of period 9,221,985 9,195,753
Cash and cash equivalents, end of period 9,116,806 11,687,021
Supplemental disclosure of cash flow information:    
Common stock issued to settle employee incentive compensation obligation 281,757 104,405
Warrants issued under Securities Purchase Agreement recorded as a non-current liability $ 0 $ 4,418,824