XML 45 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Loss $ (14,442,616) $ (30,445,148)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of deferred revenue (1,305,691) (1,425,999)
Gain on sale/leaseback (58,380) (10,000)
Amortization of debt discounts and deferred financing fees 2,115,686 1,267,545
Non-cash equity compensation 736,414 922,686
Loss on change in fair value of embedded conversion feature 2,510,000 15,770,000
Depreciation and amortization of long-lived assets 401,555 348,212
Loss on investment in Tarsa 650,571 1,518,000
Loss on investment in former China Joint Venture 600,000 1,375,926
Changes in operating assets and liabilities:    
Decrease in accounts receivable 1,194,079 721,268
Decrease in inventory 391,274 58,082
Decrease (increase) in other assets 783,874 (23,468)
Decrease in accounts payable and accrued expenses (477,807) (544,069)
Increase in deferred revenue 1,143,874 4,280,900
Increase in accrued interest 4,020,177 3,852,767
Increase in deferred compensation 18,342 17,103
Net cash used in operating activities (1,718,648) (2,306,195)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in Tarsa (650,571) (1,518,000)
Capital expenditures (140,120) (255,049)
Increase in patents and other intangibles (100,477) (176,537)
Proceeds from sale/lease back   1,119,963
Net cash used in investing activities (891,168) (829,623)
CASH FLOWS FROM FINANCING ASSETS:    
Repayment of Founders’ note (300,000)  
Repayment of capital lease (35,369)  
Proceeds from exercise of stock options 13,110 53,521
Net cash (used in) provided by financing activities (322,259) 53,521
Net decrease in cash and cash equivalents (2,932,075) (3,082,297)
Cash and cash equivalents at beginning of period 4,681,683 12,200,800
Cash and cash equivalents at end of period 1,749,608 9,118,503
Non-cash investing and financing activities:    
Purchase of equipment through capital lease $ 119,772