XML 42 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net loss $ (2,801,798) $ (4,380,445)
Adjustments to reconcile net loss to net cash from operating activities:    
Depreciation and amortization 624,590 698,584
Share-based payment compensation 411,353 890,735
Non-cash professional services expenses 1,308 0
Restructuring costs 223,573 0
Payment of restructuring costs (555,516) (478)
Provision for returns and doubtful accounts (67,265) (409,050)
Deferred income tax provision (6,045) 3,807
Changes in operating assets and liabilities:    
Accounts receivable 1,486,819 4,247,431
Prepaid expenses and other current assets (824,037) 4,342
Inventory 267,044 (425,358)
Other assets 157,383 (34,291)
Accounts payable 249,979 394,837
Accrued expenses and other long-term liabilities (986,921) (2,505,012)
Deferred revenue 2,156,828 (277,929)
Net cash provided by (used in) operating activities 337,295 (1,792,827)
Cash flows from investing activities:    
Sales of marketable securities 9,976,078 3,544,663
Purchases of marketable securities (11,550,719) (2,815,604)
Purchases of property and equipment (254,204) (580,843)
Security deposits (91,059) 0
Purchase of intangible assets (9,953) (14,511)
Net cash (used in) provided by investing activities (1,929,857) 133,705
Cash flows from financing activities:    
Proceeds from exercise of stock options 0 697,500
Dividends paid on Series A preferred stock (216,379) 0
Net cash (used in) provided by financing activities (216,379) 697,500
Effect of exchange rate changes on cash and cash equivalents 13,698 (81,282)
Net decrease in cash and cash equivalents (1,795,243) (1,042,904)
Cash and cash equivalents, beginning of period 19,288,340 18,651,468
Cash and cash equivalents, end of period 17,493,097 17,608,564
Supplemental disclosures:    
Cash paid for income taxes, net 83,771 141,148
Non-cash financing activities:    
Undistributed preferred stock dividends $ 186,904 $ 0