XML 17 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows From Operating Activities:    
Net loss $ (138,493) $ (98,497)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 80 79
Amortization of deferred debt costs 785 4,406
Stock-based compensation expense 16,195 3,909
Change in fair value of derivative instruments—warrants (161) (237)
Common stock issued for interest on Notes 2,445
Debt conversion expense 1,209 25,615
Transaction fees on Note conversions 0 (434)
Changes in operating assets and liabilities:    
Accounts receivable (1,782) 0
Inventories (6,213) 0
Security deposit (64) 0
Prepaid expenses and other current assets (7,479) (961)
Accounts payable and accrued expenses 13,714 4,546
Deferred revenues, net 1,498 0
Accrued interest expense on senior convertible notes (61) (998)
Total Adjustments 17,721 38,370
Net Cash used in Operating Activities (120,772) (60,127)
Cash Flows From Investing Activities:    
Net sales of available-for-sale securities 0 50,097
Additions to property and equipment (15) (272)
Net Cash (used in) provided by Investing Activities (15) 49,825
Cash Flows From Financing Activities:    
Proceeds of sale of common stock 121,951 89,845
Payment for deferred financing costs (1,591) 0
Fees and expenses — sale of common stock (347) 0
Proceeds from exercise of stock options 347 23
Net Cash provided by Financing Activities 120,360 89,868
Net (decrease) increase in cash and cash equivalents (427) 79,566
Cash and cash equivalents at beginning of period 82,387 61,653
Cash and cash equivalents at end of period 81,960 141,219
Supplementary disclosure of cash flow information:    
Cash paid for interest on senior convertible notes 698 2,969
Cash paid for taxes 44 45
Supplementary disclosure of non-cash investing and financing activities:    
Conversion of senior convertible notes to Synergy Common Stock $ 4,912 $ 82,274