XML 33 R5.htm IDEA: XBRL DOCUMENT v2.3.0.15
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:  
Net loss$ (27,728,736)$ (13,040,282)
Adjustments to reconcile net loss to net cash used in operating activities:  
Common stock, stock options and warrants issued as payment for compensation, services rendered and interest expense8,164,8147,399,842
Depreciation and amortization6,754,9532,556,994
Loss on short term investments 7,215
Amortization of preferred stock discount and issuance cost1,903,703 
Changes in fair value of derivative liability(1,661,049) 
Write off of acquired in-process research and development1,150,000 
Loss on disposal of assets396,635 
Non-cash interest expense328,425 
Charitable contributions paid with common stock607,363 
Bad debt expense50,02416,311
Deferred income taxes(678,211)(182,417)
Changes in operating assets and liabilities, net of the effect of acquisitions:  
Prepaid expenses and other current assets(647,674)(461,743)
Accounts receivable(2,489,064)1,278,573
Inventory3,136,189(1,405,838)
Unearned revenues(1,361,697)(392,040)
Other assets(2,014,566)(128,225)
Accounts payable, accrued expenses and other current liabilities(3,433,540)1,175,902
Net cash used in operating activities(17,522,431)(3,175,708)
Cash flows from investing activities:  
Cash received in acquisition of PCT227,942 
Purchase of short-term investments(27)(2,424,132)
Proceeds from short-term investments 2,452,015
Acquisition of property and equipment(5,453,931)(12,510,648)
Net cash used in investing activities(3,127,902)(11,019,055)
Cash flows from financing activities:  
Net proceeds from the exercise of options and warrants7,1003,101,850
Net proceeds from issuance of capital stock21,167,68213,138,948
Payment from related party644,414566,775
Repayment of mortgage loan(109,492) 
Proceeds of bank loan6,149,000 
Repayment of bank loan(1,557,000)(2,203,650)
Proceeds from notes payable10,950,61613,256,799
Repayment of notes payable(17,154,753)(16,644,465)
Repayment of debt to related party(3,406,043) 
Repayment of preferred stock(175,000) 
Payment of dividend (222,924)
Net cash provided by financing activities16,516,52410,993,333
Impact of changes of foreign exchange rates234,756108,754
Net (decrease)/increase in cash and cash equivalents(3,899,053)(3,092,676)
Cash and cash equivalents at beginning of year15,612,3917,159,369
Cash and cash equivalents at end of period11,713,3384,066,693
Cash paid during the period for:  
Interest1,238,400219,376
Taxes1,463,1001,784,325
Supplemental Schedule of non-cash investing activities  
Acquisition of property and equipment 348,488
Capitalized interest235,700307,200
Supplemental schedule of non-cash financing activities  
Common stock and warrants issued with the acquisition of PCT17,200,000 
Common stock issued pursuant to the redemption of Convertible Redeemable Series E 7% Preferred Stock2,785,400 
Common stock issued in payment of dividends for the Convertible Redeemable Series E 7% Preferred Stock622,500 
Financing costs for capital stock raises 75,466
Conversion of Convertible Redeemable Series C Preferred Stock 13,720,048
Dividend to Related Party reinvested as loan payable11,726,100 
Notes payable
  
Cash flows from investing activities:  
Change in restricted cash used as collateral2,098,114 
Bank loans
  
Cash flows from investing activities:  
Change in restricted cash used as collateral $ 1,463,710