XML 47 R5.htm IDEA: XBRL DOCUMENT v2.4.1.9
Condensed Statements of Cash Flows (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities    
Net loss $ (2,595,173)us-gaap_NetIncomeLoss $ (1,200,201)us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 106,133us-gaap_DepreciationDepletionAndAmortization 161,537us-gaap_DepreciationDepletionAndAmortization
Noncash interest expense 17,123us-gaap_OtherNoncashExpense  
Recovery of bad debt   (8,400)us-gaap_AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
Share-based compensation expense 590,603us-gaap_ShareBasedCompensation 28,927us-gaap_ShareBasedCompensation
Inventory obsolescence expense 3,604us-gaap_InventoryWriteDown 80,842us-gaap_InventoryWriteDown
Change in fair value of derivative financial instruments (31,831)us-gaap_FairValueAdjustmentOfWarrants  
Changes in operating assets and liabilities:    
Accounts receivable 411,999us-gaap_IncreaseDecreaseInAccountsReceivable (617,535)us-gaap_IncreaseDecreaseInAccountsReceivable
Inventory 45,331us-gaap_IncreaseDecreaseInInventories (155,759)us-gaap_IncreaseDecreaseInInventories
All other assets (25,854)us-gaap_IncreaseDecreaseInOtherOperatingAssets 69,092us-gaap_IncreaseDecreaseInOtherOperatingAssets
Accounts payable (319,483)us-gaap_IncreaseDecreaseInAccountsPayableTrade 69,811us-gaap_IncreaseDecreaseInAccountsPayableTrade
Accrued compensation and other liabilities 145,016us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities (193,343)us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
Deferred revenue (64,619)us-gaap_IncreaseDecreaseInDeferredRevenue 451,372us-gaap_IncreaseDecreaseInDeferredRevenue
Net cash used in operating activities (1,717,151)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (1,313,657)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities    
Purchases of property and equipment (10,034)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (25,926)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Net cash used in investing activities (10,034)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (25,926)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities    
Proceeds from issuance of preferred stock, net of issuance costs   1,420,543us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
Proceeds from issuance of convertible notes and warrants, net of issuance costs 1,388,913opgn_ProceedsFromIssuanceOfConvertibleNotesAndWarrantsNetOfIssuanceCosts  
Proceeds from issuance of short term notes 500,000us-gaap_ProceedsFromNotesPayable  
Proceeds from exercise of stock options and warrants 55opgn_ProceedsFromStockOptionsAndWarrantExercises  
Deferred IPO costs (252,715)us-gaap_PaymentsOfStockIssuanceCosts  
Payments on debt (1,250)us-gaap_RepaymentsOfDebt (1,250)us-gaap_RepaymentsOfDebt
Payments on capital lease obligations (25,640)opgn_RepaymentsOfCapitalLeaseObligations (27,443)opgn_RepaymentsOfCapitalLeaseObligations
Net cash provided by financing activities 1,609,363us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 1,391,850us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Net (decrease) increase in cash and cash equivalents (117,822)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 52,267us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 749,517us-gaap_CashAndCashEquivalentsAtCarryingValue 1,400,345us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period 631,695us-gaap_CashAndCashEquivalentsAtCarryingValue 1,452,612us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosure of cash flow information    
Cash paid during the period for interest 6,865us-gaap_InterestPaid 13,322us-gaap_InterestPaid
Supplemental disclosure of noncash investing and financing activities:    
Acquisition of equipment purchased through capital leases 76,745us-gaap_CapitalExpendituresIncurredButNotYetPaid  
Exchange of demand note for convertible debt 300,000us-gaap_DebtConversionConvertedInstrumentAmount1  
IPO costs deferred and unpaid $ 218,656opgn_DeferredInitialPublicOfferingCostsIncurredButNotYetPaid