XML 52 R7.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Payments to Acquire Marketable Securities $ 6,081,900 $ 920,329
Cash flows from operating activities:    
Net loss (47,782,363) (43,776,220)
Adjustments to reconcile net loss to net cash used in operating activities:    
Equity-based compensation expense 8,568,605 8,941,452
Depreciation and amortization 1,893,028 1,578,334
Changes in fair value of derivative liability 0 23,175
Change in acquisition-related contingent consideration (4,380,000) 1,090,000
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) 9,400,000 0
Bad debt recovery (3,774) (5,763)
Deferred income taxes (3,610,097) 142,183
Accretion Expense 77,577 7,329
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 908,011 (2,795,249)
Accounts receivable 815,231 (177,162)
Deferred costs (781,629) (872,079)
Unearned revenues 1,163,954 1,823,379
Other assets 53,743 559,470
Accounts payable, accrued liabilities and other liabilities 3,147,091 (2,483,740)
Net cash used in operating activities (30,530,623) (35,991,241)
Cash flows from investing activities:    
Proceeds from Sale and Maturity of Marketable Securities 7,734,528 248,000
Acquisition of property, plant and equipment (2,573,784) (2,925,918)
Net cash used in investing activities (921,156) (3,547,353)
Cash Acquired from Acquisition 0 50,894
Cash flows from financing activities:    
Proceeds from exercise of options 0 271,008
Proceeds from exercise of warrants 0 1,720,725
Net proceeds from issuance of common stock 36,136,839 11,275,109
Proceeds from Issuance of Long-term Debt 0 14,476,170
Repayment of mortgage loan 0 (3,236,721)
Proceeds from notes payable 1,087,361 1,777,163
Repayment of notes payable (903,783) (737,333)
Net cash provided by financing activities 36,320,417 25,546,121
Net increase (decrease) in cash and cash equivalents 4,868,638 (13,992,473)
Cash and cash equivalents at beginning of period 19,174,061 46,133,759
Cash and cash equivalents at beginning of period 24,042,699 32,141,286
Cash paid during the period for:    
Interest 1,122,479 359,300
Common stock and contingent consideration issued in merger $ 0 $ 33,490,351