XML 19 R7.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities      
Net loss $ (8,534) $ (7,940) $ (9,849)
Adjustments to reconcile net loss to net cash used in operating activities      
Depreciation and amortization 164 179 125
Amortization of debt discount and debt issuance costs 438 426 217
Stock-based compensation $ 960 $ 856 6,116
Change in fair value of derivative liabilities 4,776
Write down of capitalized labor inventory to net realizable value $ 281    
Reduction in accounts payable and accrued expenses from expiration of statute of limitations $ (224) (440)
Warrants modified/issued in lieu of cash as compensation for services $ 80 53 108
Change in assets and liabilities      
Accounts receivable (83) 35 26
Inventory 589 (411) (243)
Other assets 17 62 (50)
Accounts payable (261) 188 (130)
Accrued expenses (76) 130 (116)
Deferred revenue (768) 165 102
Pension obligation 10 59 7
Total adjustments 1,351 1,518 4,998
Net cash used in operating activities (7,183) (6,422) (4,851)
Cash flows from investing activities      
Purchase of property and equipment (87) (117) (193)
Net cash used in investing activities (87) (117) $ (193)
Cash flows from financing activities      
Proceeds from line of credit, net 400 1,550
Proceeds from exercise of stock options (33) $ 67 $ 11
Proceeds from issuance of preferred stock, net of issuance costs 9,955
Dividends paid to preferred stockholders $ (51) $ (51) $ (51)
Proceeds from exercised warrants to purchase stock 2,848 3,291
Net cash provided by financing activities $ 10,337 4,414 3,251
Effect of exchange rate changes on cash and cash equivalents 67 (20) (69)
Net increase (decrease) in cash and cash equivalents 3,134 (2,145) (1,862)
Cash and cash equivalents at beginning of year 218 2,363 4,225
Cash and cash equivalents at end of year 3,352 218 $ 2,363
Supplemental disclosure of cash flow information:      
Cash paid for interest $ 1 2
Cash paid for income taxes 1 $ 1
Summary of non-cash investing and financing activities:      
Conversion of related party notes payable into common stock $ 85 $ 10
Conversion of related party notes payable into Series E Preferred $ 1,978
Beneficial conversion feature of convertible debt 146 $ 296
Stock dividend on Series E Preferred 774
Accrued unpaid dividends on Series E Preferred 240
Issuance of common stock pursuant to cashless warrant exercises 1 $ 9 $ 45
Reduction (increase) in additional minimum pension liability $ 332 (744) (622)
Reclassification of warrants previously classified as derivative liabilities to additional paid-in capital 57 6,684
Issuance of common warrants securing line of credit borrowing facility 128 580
Issuance of restricted stock pursuant to achievement of vesting conditions $ 1 $ 1