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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended 75 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2011
OPERATING ACTIVITIES      
Net loss $ (5,758) $ (5,303) $ (22,789)
Adjustments to reconcile net loss to net cash used in operating activities:      
Amortization of deferred finance costs 37 204 1,970
Stock-based compensation expense 335 471 1,305
Stock-based compensation expense related to Share Exchange     77
Depreciation and amortization 140 87 342
Gain on sale of TruePosition investment     (903)
Loss from disposal of assets 20   20
Inventory disposals 86 53 139
Changes in operating assets and liabilities      
Other current assets (28) (29) (189)
Inventory 5 (144) (139)
Other assets     (2)
Accounts payable and accrued liabilities 248 128 185
Accrued interest 48   48
NET CASH USED IN OPERATING ACTIVITIES (4,867) (4,533) (19,936)
INVESTING ACTIVITIES      
Purchase of equipment (293) (277) (832)
Proceeds from sale of TruePosition investment     903
Payment received under Rule 16b     4
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES (293) (277) 75
FINANCING ACTIVITIES      
Net cash provided in connection with the acquisition of SafeStitch LLC     3,192
Issuance of Common Stock, net of offering costs   4,974 8,962
Issuance of Preferred Stock, net of offering costs   1,998 3,980
Capital Contributions     1,431
Proceeds from notes payable   70 141
Repayment of notes payable (49) (71) (141)
Proceeds from stockholder loans 2,475   5,335
Repayment of stockholder loans     (2,776)
Exercise of options     35
NET CASH PROVIDED BY FINANCING ACTIVITIES 2,426 6,971 20,159
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (2,734) 2,161 298
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 3,032 871  
CASH AND CASH EQUIVALENTS AT END OF PERIOD 298 3,032 298
Supplemental disclosures:      
Cash paid for interest     64
Non cash activities:      
Non-cash dividend upon issuance and conversion of Preferred Stock   4,801 5,001
Dividends   366 366
Stockholder loans contributed to capital     84
Warrants issued in connection with credit facility     $ 1,985