XML 24 R8.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net loss $ (36,415,026) $ (32,741,274) $ (26,439,159)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 1,125,696 1,307,203 1,058,725
Stock-based compensation 4,244,408 2,034,898 2,608,670
Amortization of debt discount and issuance costs 114,180 240,021 288,951
Gain on disposal of fixed assets (168,898) (75,917) (38,854)
Impairment of intangible asset 239,241 530,100  
Impairment of goodwill   1,910,062  
Loss on disposal of intangible assets relating to discontinued operations   186,846  
Fair value of property gifted   5,671  
Change in fair value of warrant liability (913,587) (2,422,451) (3,253,253)
Changes in operating assets and liabilities:      
Trade receivables 155,419 (55,457) 3,606
Other receivables 199,365 192,795 (298,734)
Prepaid and other current assets 507,659 (465,478) 801,611
Accounts payable and accrued expenses 292,190 2,055,437 2,143,917
Accrued wind-down expenses 392,230   (1,102,762)
Deferred revenue (16,826) (66,925) (24,270)
Deferred rent (66,463) (5,169) 435,967
Other assets non-current (369,012) 17,207 493,584
Net cash used in operating activities (30,679,424) (27,352,431) (23,322,001)
Cash flows from investing activities:      
Purchases of marketable debt securities     (687,798)
Sales or maturities of marketable debt securities     14,430,000
Purchases of property, plant and equipment (1,053,993) (903,943) (4,680,796)
Proceeds from sale of property, plant and equipment 168,713 3,500 38,500
Acquisition of other assets     (64,000)
Proceeds from the disposal of assets related to discontinued operations   474,821  
Net (cash used in) provided by investing activities (885,280) (425,622) 9,035,906
Cash flows from financing activities:      
Proceeds from issuance of common stock, net of issuance costs 26,324,565 18,949,647 23,491,597
Proceeds from the exercise of warrants, net of issuance costs   1,974,931 530,097
Proceeds from the exercise of stock options     3,452
Proceeds from loan payable, net of issuance costs   5,775,543 13,558,358
Repayment of debt obligations (4,778,485) (3,982,971) (826,465)
Restricted cash related to debt obligations (2,422,500)    
Repayment of capital lease obligations (24,168) (21,316) (12,396)
Payments related to net share issuance of stock based awards (392,587) (499,333) (342,366)
Net cash provided by financing activities 18,706,825 22,196,501 36,402,277
Increase (decrease) in cash and cash equivalents (12,857,879) (5,581,552) 22,116,182
Effects of foreign exchange rate changes on cash and cash equivalents (19,159) (16,269) (2,033)
Cash and cash equivalents, beginning of period 24,987,603 30,585,424 8,471,275
Cash and cash equivalents, end of period 12,110,565 24,987,603 30,585,424
Supplemental disclosure of cash flow information:      
Interest paid 506,319 $ 479,011 427,040
Supplemental schedule of non-cash investing and financing activities:      
Equipment acquired under a capital lease [1] $ 28,882   43,600
Equity Financing Agreement [Member]      
Supplemental schedule of non-cash investing and financing activities:      
Fair value of 139,548 shares issued as consideration in the acquisition of a patent portfolio     600,006
Acquired Patent Portfolio [Member]      
Supplemental schedule of non-cash investing and financing activities:      
Fair value of 139,548 shares issued as consideration in the acquisition of a patent portfolio     $ 200,000
[1] Represents the present value of future minimum capital lease payments for equipment leased.