XML 108 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended 12 Months Ended 99 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Cash flows from operating activities:          
Net loss $ (4,437,399) $ (3,432,349) $ (4,316,779) $ (4,960,019) $ (29,904,925)
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization expense 42,220 35,871 66,120 57,173 239,475
Stock-based compensation expense 143,643 66,001 87,428 109,197 291,215
Revaluation of warrant liability (50,762) (11,230) (61,541) (156,163) (622,824)
Noncash interest expense 369,677 227,911 305,917 545,165 1,228,529
Loss on disposal of property and equipment       31,433 31,433
Changes in assets and liabilities:          
Accounts receivable (3,750) 849 849 (849)  
Inventory 91,261 (574) 71,247 (242,861) (288,967)
Prepaid and other current assets 120,177 (209,711) (243,661) 123,605 (308,183)
Other noncurrent assets 13,908 13,908 13,930 (48,300) (43,783)
Accounts payable (401,256) 439,849 481,738 (13,175) 967,315
Accrued liabilities 61,293 (80,357) (159,868) (888,960) 337,095
Net cash used in operating activities (4,050,988) (2,949,832) (3,754,620) (5,443,754) (28,073,620)
Cash flows from investing activities:          
Proceeds from sale of property and equipment       50 50
Purchase of property and equipment (106,359) (4,214) (4,213) (23,331) (337,678)
Net cash used in investing activities (106,359) (4,214) (4,213) (23,281) (337,628)
Cash flows from financing activities:          
Net cash proceeds from issuance of common stock in connection with private placement offering 4,204,220        
Net proceeds from issuance of common stock         4,000
Proceeds from exercise of stock options       9,335 28,687
Repurchase of common stock         (565)
Repurchase of restricted stock options         (316)
Proceeds from related party convertible bridge notes and warrants 1,500,000 3,000,000 3,875,000 2,000,000 9,375,400
Repayments of notes payable   (134,814) (134,814) (2,165,475) (4,163,361)
Net cash provided by financing activities 5,704,220 2,865,186 3,740,186 5,743,210 28,841,355
Net increase (decrease) in cash and cash equivalents 1,546,873 (88,860) (18,647) 276,175 430,107
Proceeds from notes payable       2,135,159 6,107,159
Beginning of period 430,107 448,754 448,754 172,579  
End of period 1,976,980 359,894 430,107 448,754 430,107
Supplemental disclosure          
Cash paid for interest 116,905 106,469 141,423 198,194 783,482
Cash paid for income taxes 800 800 800 800 6,400
Supplemental schedule of noncash investing and financing activities:          
Issuance of warrants in connection with loans/notes payable         20,069
Tranfer of equipment between inventory and property and equipment     60,804   60,804
Conversion of bridge loans and interest into stock 1,545,678        
Extinguishment of convertible notes debt and related related accrued interest pursuant to Merger Agreement 5,397,278        
Agreement 572,910        
Payable to non-accredited investors in connection with Merger Agreement 16,498        
Preferred Class A [Member]
         
Cash flows from financing activities:          
Proceeds from issuance of convertible preferred stock and warrants, net of issuance costs         13,726,160
Supplemental schedule of noncash investing and financing activities:          
Conversion of bridge loans and interest into stock         501,873
Preferred Class B [Member]
         
Cash flows from financing activities:          
Proceeds from issuance of convertible preferred stock and warrants, net of issuance costs       3,764,191 3,764,191
Supplemental schedule of noncash investing and financing activities:          
Conversion of bridge loans and interest into stock       4,709,968 4,709,968
Bridge Loan [Member]
         
Supplemental schedule of noncash investing and financing activities:          
Cancellation of warrants in connection with bridge loans         15,091
Notes Payable to Banks [Member]
         
Supplemental schedule of noncash investing and financing activities:          
Issuance of warrants in connection with loans/notes payable 622,170       100,584
April 2012 Term Loan [Member]
         
Supplemental schedule of noncash investing and financing activities:          
Issuance of warrants in connection with loans/notes payable         70,082
Related Party Convertible Bridge Notes [Member]
         
Supplemental schedule of noncash investing and financing activities:          
Issuance of warrants in connection with loans/notes payable       $ 167,090 $ 670,090