XML 24 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Operating Activities:    
Net loss $ (18,560,130) $ (38,850,782)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,197,285 3,600,007
Stock based compensation 123,268 888,348
Realized loss (gain) on sale of assets (1,210,331) (82,772)
Amortization of financing costs 76,351 137,111
Non-cash interest expense 643,263 948,901
Amortization of debt discount 4,427,086 6,214,060
Bad debt expense 514 122,416
Accrued litigation settlement (339,481) (541,279)
Warrant expense 345,774 0
Impairment of inventory 363,377 0
Warranty reserve (118,754) (87,543)
Change in fair value of derivatives and loss on extinguishment of liabilities, net (1,877,629) 6,402,077
Induced conversion expense 635,514 0
Changes in operating assets and liabilities:    
Accounts receivable 569,632 1,321,265
Inventories 1,168,585 1,702,564
Prepaid expenses and other current assets 389,910 379,374
Accounts payable (592,403) 1,492,053
Related party payable (12,076)  
Accrued expenses 172,316 (501,284)
Net cash used in operating activities (12,597,929) (16,855,484)
Investing Activities:    
Purchase of property, plant and equipment (6,402) (51,724)
Proceeds from sale of assets 150,000 82,772
Patent activity costs (62,652) (189,455)
Net cash used in investing activities 80,946 (158,407)
Financing Activities:    
Proceeds from debt 5,542,500 1,930,000
Repayment of debt (2,056,845) (266,027)
Payment of debt financing costs (20,000) (81,500)
Proceeds from Committed Equity Line 0 1,056,147
Proceeds from issuance of stock and warrants 9,010,000 14,180,000
Net cash provided by financing activities 12,475,655 16,818,620
Net change in cash and cash equivalents (41,328) (195,271)
Cash and cash equivalents at beginning of period 130,946 326,217
Cash and cash equivalents at end of period 89,618 130,946
Supplemental Cash Flow Information:    
Cash paid for interest 1,221,843 417,876
Cash paid for income taxes 0 0
Non-Cash Transactions:    
Non-cash conversions of preferred stock and convertible notes to equity 11,835,962 10,617,764
Non-cash conversions of preferred stock to notes payable 1,075,000 0
Make-whole provision on convertible preferred stock 257,152 161,988
Non-cash financing costs 2,500 0
Debt converted to accounts payable 55,067 0
Accounts payable converted to notes payable 1,587,760 0
Accounts payable forgiven related to sale of EnerPlex 1,031,726 0
Interest converted to principal 431,195 0
Common shares issued for commitment fee 63,750 0
Initial embedded derivative liabilities $ 5,878,345 $ 5,444,362