XML 16 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
CASH FLOW FROM OPERATING ACTIVITIES:    
Net loss $ (7,414,099) $ (7,898,013)
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities:    
Depreciation and amortization 251,021 349,254
Amortization of loan issuance costs and FV of warrants 171,127 108,224
Stock-based compensation expense 971,688 892,087
Changes in operating assets and liabilities:    
Receivable from related party (34,546) (16,445)
Trade accounts receivable 14,619 (31,960)
Inventory 51,519 46,992
Prepaid expenses and other assets 343,987 (274,251)
Accounts payable 97,256 (105,553)
Accrued expenses (259,601) 154,463
Deferred revenue (735,575) 84,043
Net cash used in operating activities (6,542,604) (6,691,159)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital additions (84,863) (82,489)
Net cash used in investing activities (84,863) (82,489)
CASH FLOW FROM FINANCING ACTIVITIES:    
Proceeds from private placement of common stock and warrants 5,592,500 0
Private placement offering costs (62,849) (8,095)
Payment of notes payable (967,045) 0
Proceeds from employee stock purchase plan and employee option exercises 16,057 20,954
Net cash provided by financing activities 4,578,663 12,859
Net decrease in cash and equivalents (2,048,804) (6,760,789)
Cash, beginning of period 4,706,018 11,466,807
Cash, end of period 2,657,214 4,706,018
Supplemental disclosures of cash flow information:    
Cash paid for interest 429,267 467,500
Supplemental disclosures of non-cash investing and financing activities:    
Warrants issued in connection with long term debt amendment $ 5,169,577 $ 0