XML 16 R5.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net (Loss) $ (18,767,088) $ (9,934,815)
Adjustments to Reconcile Net (Loss) to Net Cash (Used in) Operating Activities:    
Stock Based Compensation 3,512,827 1,881,540
Stock Issued in Exchanged for Services 59,087 25,002
Deferred Revenue 44,179  
Provision for Bad Debts 40,711  
Change in Fair Value of Warrants (1,049,330) (1,139,854)
Change in Fair Value of Warrant Derivative Liabilities (348,141) 86,736
Depreciation and Amortization Expense 1,752,012 742,717
(Increase) Decrease in, net of impact of USC acquisition:    
Accounts Receivable - Trade (172,690)  
Inventories (112,910)  
Prepaid Expenses and Other Current Assets (130,940) 112,210
Increase (Decrease) in, net of impact of USC acquisition:    
Accounts Payable (2,147,350) (378,230)
Accrued Other Expenses and Bonuses (554,792) 498,808
Net Cash (Used in) Operating Activities (17,874,425) (8,105,886)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of Equipment (16,832)  
Cash from Acquisition of USC 381,883  
Cash Payment to Former Shareholders of USC (32)  
Net Cash (Used in) Investing Activities 365,019  
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from Issuance of Common Stock, net of issuance cost 10,216,080 10,565,972
Proceeds form Issuance of Preferred Stock, net of issuance cost 9,845,420  
Proceeds from Exercise of Warrants 177,780 75,589
Proceeds from Bank loan - Line of Credit 2,000,000  
Restricted Cash - Certificate of Deposit Held as Collateral (1,000,000)  
Net Cash Provided by Financing Activities 21,239,280 10,641,561
Increase in Cash 3,729,874 2,535,675
Cash:    
Beginning 4,080,648 3,774,665
Ending 7,810,522 6,310,340
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash Paid for Income Taxes 2,400 4,695
Cash Paid for Interest 175,482  
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING AND INVESTING ACTIVITIES    
Series A-2 Preferred, Beneficial Conversion Feature 1,374,229  
Release of Warrants Liability Upon Exercise $ 160,245 $ 230,332