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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
6 Months Ended 93 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
OPERATING ACTIVITIES      
Net loss $ (1,525) $ (4,138) $ (31,038)
Adjustments to reconcile net loss to net cash used in operating activities:      
Amortization of deferred finance costs 0 5 1,984
Stock-based compensation expense 503 224 2,256
Stock-based compensation expense related to Share Exchange 0 0 77
Depreciation and amortization 68 84 577
Loss from disposal of assets 0 0 20
Inventory Adjustments 0 0 337
Gain on sale of TruePosition investment 0 0 (903)
Changes in operating assets and liabilities      
Inventories 14 (1,646) (1,923)
Accounts receivable 3 0 3
Other current assets 68 8 (120)
Other assets 0 0 (2)
Accounts payable and accrued liabilities (492) 677 487
Accrued Interest (12) (48) 0
NET CASH USED IN OPERATING ACTIVITIES (1,373) (4,834) (28,248)
INVESTING ACTIVITIES      
Purchase of equipment 0 (6) (861)
Proceeds from sale of True Position investment 0 0 903
Payment received under Rule 16b 0 0 4
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES 0 (6) 46
FINANCING ACTIVITIES      
Net cash provided in connection with the acquisition of SafeStitch LLC 0 0 3,192
Issuance of Common Stock, net of offering costs 3,024 8,318 20,305
Issuance of Preferred Stock, net of offering costs 0 0 3,980
Capital contributions 0 0 1,431
Proceeds from notes payable 0 0 141
Repayment of notes payable 0 0 (141)
Proceeds from stockholder loans 200 500 6,935
Repayment of stockholder loans (1,100) (2,975) (6,851)
Exercise of warrants 0 0 201
Exercise of options 0 0 35
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 2,124 5,843 29,228
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 751 1,003 1,026
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 275 298 0
CASH AND CASH EQUIVALENTS AT END OF PERIOD 1,026 1,301 1,026
Supplemental disclosures:      
Cash paid for interest 35 91 191
Non cash activities:      
Non-cash inventory and accounts payable adjustment 104 0 104
Non-cash dividend upon issuance & conversion of Preferred 0 0 5,001
Stock dividends 0 0 366
Stockholder loans contributed to capital 0 0 84
Warrants issued in connection with credit facility $ 0 $ 0 $ 1,985