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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities      
Net loss $ (3,440,705) $ (9,955,395) $ (11,718,353)
Adjustments to reconcile net loss to net cash used in operating activities:      
Realization of cumulative translation adjustment 229,192 0 0
Share-based compensation expense 613,017 1,655,647 1,362,716
Change in fair value of derivative instruments (299,477) (508,817) 444,622
Depreciation expense 141,604 149,958 182,487
Deferred income taxes 61,746 61,746 61,746
Non-cash interest expense (45,358) 83,021 135,162
Restructuring expense related to property and equipment 36,981 0 0
Gain on the disposal of property and equipment (7,600) (5,394) (3,500)
Changes in operating assets and liabilities:      
Accounts receivable (401,338) 1,316,457 1,005,528
Unbilled accounts receivable (665,914) 1,902,094 1,914,917
Prepaid expenses and other current assets 5,202 (5,367) 282,057
Accounts payable 129,726 (736,776) (569,120)
Accrued restructuring expenses 481,761 0 0
Accrued expenses and other liabilities (54,818) (2,089,493) 773,566
Deferred revenue 0 (341,723) (1,040,032)
Net cash used in operating activities (3,215,981) (8,474,042) (7,168,204)
Investing activities      
Purchases of property and equipment (86,507) (92,269) (84,579)
Proceeds from the sale of property and equipment 7,600 8,000 3,500
Net cash used in investing activities (78,907) (84,269) (81,079)
Financing activities      
Repayment of debt (750,007) (999,996) (749,997)
Net repayment of revolving credit agreement 0 (1,091,740) (238,767)
Net proceeds from exercise of warrants 0 683,325 0
Proceeds from issuance of common stock, including exercise of stock options, net of offering costs 973,132 18,141,935 6,018,891
Net cash provided by financing activities 223,125 16,733,524 5,030,127
Effects of exchange rates on cash and cash equivalents (1,775) (12,841) (1,382)
Increase (decrease) in cash and cash equivalents (3,073,538) 8,162,372 (2,220,538)
Cash and cash equivalents, at beginning of year 18,643,351 10,480,979 12,701,517
Cash and cash equivalents, at end of year 15,569,813 18,643,351 10,480,979
Supplemental disclosure of cash flow information      
Cash paid for interest $ 108,391 $ 128,073 $ 234,119