XML 26 R7.htm IDEA: XBRL DOCUMENT  v2.3.0.11
STATEMENTS OF CASH FLOWS (USD $)
In Thousands
6 Months Ended 150 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Operating activities:      
Net loss $ (5,033) $ (7,969) $ (62,959)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 22 35 710
Amortization 62 46 566
Gain on redemption of investment     (62)
Stock options granted for services     9
Impairment of intangible assets     199
Amortization of deferred financing cost and discount on notes payable 1,620   1,890
Amortization of non-employee share-based compensation 158 93 2,005
Share-based employee compensation expense 371 367 3,704
Non-cash interest expense     378
Change in estimated fair value of derivative financial instruments - warrants (2,666) 2,588 569
Changes in operating assets and liabilities      
(Increase) decrease in prepaid expenses and other current assets (75) 204 759
Increase (decrease) in accounts payable and accrued expenses 1,073 (361) 3,315
Net cash used in operating activities (4,468) (4,997) (48,917)
Investing activities:      
Security deposits paid     (7)
Purchases of equipment     (645)
Additions to intangible assets (134) (128) (1,872)
Proceeds from redemption of investment     65
Purchases of marketable securities     (12,673)
Proceeds from maturities of marketable securities     12,673
Net cash used in investing activities (134) (128) (2,459)
Financing activities:      
Proceeds from note payable     7,664
Borrowings from related party     2,000
Cash acquired in Merger     5,413
Merger-related costs     (375)
Payments of capital lease obligations     (99)
Proceeds from exercise of stock options     733
Proceeds from issuance of common stock and warrants     5,066
Proceeds from issuance of preferred stock     34,427
Net cash provided by financing activities     54,829
Net (decrease) increase in cash and cash equivalents (4,602) (5,125) 3,453
Cash and cash equivalents, beginning of period 8,055 9,637  
Cash and cash equivalents, end of period 3,453 4,512 3,453
Supplemental disclosure of non-cash investing and financing activities:      
Dividends on Series C Preferred Stock paid in preferred shares     1,811
Accrued dividends on Preferred Stock 1,673 1,558 10,793
Accretion of fair value of beneficial conversion on preferred stock     5,313
Accretion of contingent beneficial conversion related on Series C Preferred Stock     911
Induced conversion of preferred stock in connection with issuance of Series D Preferred Stock     2,796
Issuance of Common Stock to pay debt     2,372
Reverse acquisition - net liabilities assumed, excluding cash     (214)
Mandatory redeemable convertible preferred stock converted to Common Stock     500
Common Stock issued to acquire intangible assets     24
Stock options granted for services     1,424
Deferred research and development cost resulting from Medtronic Stock Purchase     795
Acquisition of equipment through capital leases     $ 106