XML 17 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (843,758) $ 7,001,375
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation and amortization 706,759 504,932
Change in fair value of derivative financial instruments - warrants (4,767,884) (9,468,320)
Non-cash compensation accrued 925,000 1,232,950
Non-cash compensation from the issuance of common stock and options 208,719 272,705
Non-cash rent expense and lease accretion 7,820 (18,250)
Change in operating assets and liabilities:    
Accounts receivable (227,181) 985,619
Inventory 1,117,023 (2,735,085)
Prepaid expenses and other current assets (622,480) (388,915)
Accounts payable, accrued expenses and other current liabilities 460,338 (434,885)
Deferred revenue and customer deposits (760,000) (759,997)
Net cash used in operating activities (3,795,644) (3,807,871)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (291,115) (804,762)
Intellectual property costs (85,518) (7,292)
Restricted cash (1,573) 0
Net cash used in investing activities (378,206) (812,054)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the issuance of stock 1,208,100 5,770,163
Proceeds from cash warrant and options exercises 181,908 1,856,480
Proceeds and repayments of line of credit, related party - net 0 (718,309)
Payment of bond principal (85,000) (209,366)
Other loan payments (431,507) (290,189)
Costs associated with raising capital (49,956) (17,671)
Net cash provided by financing activities 823,545 6,391,108
Net change in cash (3,350,305) 1,771,183
Cash, beginning of period 10,594,693 11,512,179
Cash, end of period 7,244,388 13,283,362
Supplemental disclosure of cash and non-cash transactions:    
Cash paid for interest 67,573 142,351
Financing of equipment purchases and insurance renewal 498,604 308,834
Issuance of Senior Secured Promissory Note pursuant ANDA asset acquisition 1,200,000 0
Commitment shares issued to Lincoln Park Capital 942,654 69,425
Change in carrying value of convertible preferred mezzanine equity 0 20,714,286
Conversion of Series I convertible preferred shares into common shares 0 23,571,429
Retirement of common shares pursuant to the issuance of Series J convertible preferred shares $ 20,378,631 $ 0