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Consolidated Statements of Cash Flows (Unaudited) (USD $)
3 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities    
Net loss $ (3,106,678) $ (2,525,235)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 27,062 18,900
Amortization of debt discounts 33,982 75,622
Fair valuation adjustments, net 257 1,497
Stock based compensation expense 241,661 63,348
Amortization of net deferred loan fees and costs (1,119) 36,273
Provision for loan losses 74,904 182,014
Changes in operating assets and liabilities    
Other receivables (151,106) (538,370)
Deposits (42,500) 7,342
Prepaid expenses and other assets (28,677) 137,253
Accounts payable (33,279) 211,385
Accrued expenses 108,947 (139,123)
Net cash used in operating activities (2,876,546) (2,469,094)
Cash flows from investing activities    
Origination of member loans, net (1,063,821) (981,443)
Origination of CM Loans at fair value (54,265,647) (28,619,475)
Repayment of member loans originated 539,122 1,369,697
Repayment of CM Loans at fair value 19,176,697 6,589,223
Net change in restricted cash (160,000) 500,000
Purchase of property and equipment (139,730) (14,655)
Net cash used in investing activities (35,913,379) (21,156,653)
Cash flows from financing activities:    
Proceeds from issuance of Notes at fair value 55,693,775 28,619,475
Payments on loans payable (941,543) (1,518,713)
Payments on Notes at fair value (19,699,272) (6,605,776)
Proceeds from issuance of Series C convertible preferred stock, net of issuance costs   24,387,945
Proceeds from issuance of common stock 1,405 7,898
Net cash provided by financing activities 35,054,365 44,890,829
Net increase (decrease) in cash and cash equivalents (3,735,560) 21,265,082
Cash and cash equivalents - beginning of period 13,335,657 2,572,174
Cash and cash equivalents - end of period 9,600,097 23,837,256
Supplemental disclosure of cash flow information:    
Cash paid for interest 4,867,857 2,000,113
Supplemental disclosure of non-cash investing and financing activities:    
Reclassification of member loans held for investment to CM Loans held at fair value $ 879,638