XML 30 R6.htm IDEA: XBRL DOCUMENT v3.2.0.727
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash Flows From Operating Activities:    
Net loss $ (19,146,310) $ (6,537,017)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 448,320 198,792
Share-based compensation, net $ 610,971 591,055
Fair value of common stock issued for services   8,404
Loss (gain) on revaluation of derivative warrant liability $ 7,845 $ (533,000)
Warrant repricing charged to legal expense 328,000  
Loss (gain) on disposal of assets 239,434 $ (1,500)
Impairment charge 9,625,000  
Financing loss $ 4,357,000  
Amortization of deferred financing costs   $ 484,002
Changes in assets and liabilities:    
Prepaid and other $ 148,280 (159,278)
Other assets   576
Accounts payable $ (5,503) (3,960)
Deferred revenue from licensing arrangements   (38,214)
Accrued and other $ 232,371 (526,906)
Net cash used in operating activities (3,154,592) (6,517,046)
Cash Flows from Investing Activities:    
Purchase of property and equipment (12,207) (32,911)
Decrease (increase) in restricted cash (126,968) 250,000
Proceeds from disposal of property and equipment 19,600 1,887
Net cash (used in) provided by investing activities (119,575) 218,976
Cash Flows From Financing Activities:    
Proceeds from issuances of equity, net 2,500,000 $ 2,350,000
Capital contribution 59,325  
Principal payments on financing (226,676) $ (1,361)
Net cash provided by financing activities 2,332,649 2,348,639
Net decrease in cash and cash equivalents (941,518) (3,949,431)
Cash and cash equivalents, beginning of period 1,278,941 8,055,385
Cash and cash equivalents, end of period 337,423 4,105,954
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 4,781 $ 3,067
Cash paid for Income taxes    
Supplemental disclosure of non-cash financing transactions:    
Prepaid insurance financed $ 272,623  
Director's fees payable offset against prepaid insurance 272,200  
Accrued legal fees settled with stock 550,000  
Security deposit offset against accounts payable 9,740  
Conversion of convertible preferred stock into Common Stock at par value $ 15,000