XML 53 R5.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net loss $ (7,189,000) $ (9,878,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock option compensation expense 135,000 257,000
Restricted stock compensation expense 68,000 60,000
Depreciation expense 363,000 499,000
Provision for inventory obsolescence   102,000
Loss on disposal of equipment 2,000 123,000
Warrant liability fair value adjustment (161,000) (1,092,000)
Non-cash interest income (1,000) 0
Changes in assets and liabilities:    
Decrease (increase) in prepaid expenses and other assets (126,000) 856,000
Decrease (increase) in accounts receivable (285,000) 183,000
Decrease in inventories 59,000 15,000
Increase (decrease) in accounts payable and accrued expenses (1,712,000) 7,000
Increase (decrease) in other non-current liabilities (110,000) 383,000
Net cash used in operating activities (8,957,000) (8,485,000)
Cash flows from investing activities:    
Purchase of property, plant and equipment (87,000)  
Proceeds from sales of property, plant and equipment 2,000 22,000
Net cash (used in) provided by investing activities (85,000) 22,000
Cash flows from financing activities:    
Net proceeds from sale of stock and exercise of warrants 2,656,000 4,521,000
Net cash provided by financing activities 2,656,000 4,521,000
Foreign currency effects on cash and cash equivalents (30,000) (23,000)
Net decrease in cash and cash equivalents (6,416,000) (3,965,000)
Cash and cash equivalents:    
Beginning of period 20,469,000 31,249,000
End of period 14,053,000 27,284,000
Supplemental non-cash activities:    
Fair value of warrants issued 820,000  
Fair value of warrants exercised $ 123,000 $ 143,000