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Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net loss $ (16,138,750) $ (17,125,576)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 255,398 260,221
Share based compensation expense 2,121,049 3,638,972
Amortization of deferred financing fees and debt discount 655,090 622,244
Warrant modification expense 0 3,109,850
Loss from change in fair value of derivative instruments 0 334,133
Changes in operating assets and liabilities:    
Trade and other receivables 206,365 (22,761)
Prepaid expenses (972,371) 56,221
Other assets (14,102) 7,131
Accounts payable and accrued expenses (1,269,384) 899,299
Other current liabilities 318,644 3,191
Other long term liabilities (194,343) (9,261)
Net cash used in operating activities (15,032,404) (8,226,336)
Cash flows from investing activities:    
Purchases of short-term investments (5,017,453) (25,007,478)
Maturity of short-term investments 15,007,478 10,000,000
Patent costs (61,417) (308,136)
Purchase of property and equipment (128,213) (172,171)
Net cash provided by (used in) investing activities 9,800,395 (15,487,785)
Cash flows from financing activities:    
Proceeds from issuance of common stock from warrants exercised, net 3,073,537 1,661,865
Proceeds from issuance of common stock from options exercised 0 133,000
Proceeds from sale of common stock and warrants, net of issuance costs 2,931,925 19,467,859
Payment of fees for future financing (42,758) 0
Payment of taxes on stock option exercise 0 (426,212)
Payments of long-term debt 0 (1,917,353)
Payments of short-term notes payable (117,068) (104,957)
Net cash provided by financing activities 5,845,636 18,814,202
Effects of exchange rates on cash (1,812) (880)
Net Change in cash and cash equivalents 611,815 (4,900,799)
Cash and cash equivalents, beginning of period 12,518,980 16,846,052
Cash and cash equivalents, end of period 13,130,795 11,945,253
Supplemental disclosure of cash flows information:    
Cash paid for interest 724,350 573,869
Supplemental schedule of non-cash investing and financing activities:    
Issuance of common stock for cashless exercise of warrants and options $ 2,736,120 $ 1,208,080