XML 64 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash Flows From Operating Activities:    
Net loss $ (12,041,601) $ (15,566,767)
Depreciation and amortization 296,686 288,883
Share-based compensation, net 1,056,915 908,983
Fair value of common stock and warrants issued for services 8,404 89,970
Gain on revaluation of derivative warrant liability (1,006,000) (4,605,986)
Gain on disposal of assets (1,500)   
Amortization of discount on note payable    2,879,166
Amortization of non-cash deferred financing costs 3,549,328 726,003
Prepaid expenses and other current assets (184,986) (51,484)
Other assets 2,076 (1,500)
Accounts payable (130,748) (768,127)
Deferred revenue from licensing arrangements (57,321) (67,671)
Accrued expenses and other liabilities (641,133) 14,472
Net cash used in operating activities (9,149,880) (16,154,058)
Cash Flows from Investing Activities:    
Purchase of furniture, equipment and leasehold improvements (36,626) (237,387)
Decrease (increase) in restricted cash 250,000 (250,000)
Proceeds on disposal of furniture, equipment and leasehold improvements 1,887   
Net cash used in investing activities 215,261 (487,387)
Cash Flows From Financing Activities:    
Proceeds from issuances of Common Stock, and warrants, net of expenses 2,350,000 21,964,575
Repayment of Montaur note payable    (3,000,000)
Principal payments on capital lease obligations (1,361) (1,871)
Net cash provided by financing activities 2,348,639 18,962,704
Net increase (decrease) in cash and cash equivalents (6,585,980) 2,321,259
Cash and cash equivalents, beginning of period 8,055,385 3,747,210
Cash and cash equivalents, end of period 1,469,405 6,068,469
Supplemental Disclosure of Cash Flow Information and Non Cash Financing Transactions:    
Cash paid for interest $ 2,154 $ 114,082