XML 23 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash Flows From Operating Activities:      
Net (loss) $ (7,639,772) $ (9,805,148) $ (10,316,317)
Adjustments to reconcile net loss to net cash used in operations:      
Depreciation 1,348,860 1,312,585 1,164,366
Amortization of discount – PIK Notes 2,696,500 1,259,159 218,031
Amortization of deferred financing costs 7,500 7,500 1,250
Accrued interest on PIK Notes 3,551,195 3,221,035 1,076,250
Stock issued for director and consulting services 53,914 379,936 327,269
Stock-based compensation expense 659,706 397,417 865,716
Stock issued for liquidated damages 741,011
(Gain) on revaluation of warrant derivative (830,000)
(Gain) on revaluation of PIK Notes (3,229,043) (5,328,515) (1,470,798)
(Gain) on revaluation of stock awards for non-employees (110,000)
(Gain) from disposition of land (108,764) 0 0
Change in operating assets and liabilities:      
Accounts receivable (188,747) (63,374) (107,075)
Other receivables 77,846 (94,646)
Deposits and prepaid expenses 20,394 (33,543) 149,239
Accounts payable and accrued expenses (39,426) (642,873) 1,028,218
Net Cash (Used In) Operating Activities (2,732,089) (8,585,557) (8,003,851)
Cash Flows From Investing Activities:      
Sale of property 552,944
Purchases of property and equipment (217,211) (251,055) (2,039,562)
Net Cash (Used In) Provided By Investing Activities 335,733 (251,055) (2,039,562)
Cash Flows From Financing Activities:      
Payments on notes payable (237,235) (61,923) (440,471)
Proceeds from notes payable 240,340
Proceeds from PIK notes payable 12,499,998
Proceeds from sale of common stock 1,640,000
Net Cash (Used In) Provided By Financing Activities 1,643,105 (61,923) 12,059,527
Net (decrease) increase in cash and cash equivalents (753,251) (8,898,535) 2,016,114
Cash and cash equivalents at beginning of year 1,803,131 10,701,666 8,685,552
Cash And Cash Equivalents At End Of Year 1,049,880 1,803,131 10,701,666
Supplemental disclosure of cash flow information:      
Interest 4,956 12,839 10,460
Income taxes 490 13,017 1,431
Supplemental disclosure of noncash investing and financing activities:      
Property and equipment financed with note payable 149,129
Construction-in-progress in accounts payable 120,000
Prepaid insurance financed with note payable 240,340 233,940 245,390
Reclassification of Construction in Progress to building and equipment 3,091,163
Employees [Member]      
Adjustments to reconcile net loss to net cash used in operations:      
Share-based compensation $ 57,748 $ 63,888