XML 45 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net loss $ (16,137,000) $ (28,455,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,169,000 712,000
Amortization of deferred financing costs and debt discount 605,000 706,000
Joint Venture acquisition obligation accretion 204,000 0
Provision for doubtful accounts 938,000 99,000
Change in fair value of warrants (418,000) 1,244,000
Change in fair value of option liabilities (2,250,000) 490,000
Share-based compensation expense 2,723,000 2,907,000
Equity loss from investment in joint venture 48,000 128,000
Loss on asset disposal 257,000 0
Gain on previously held equity interest in Joint Venture (4,892,000) 0
Gain on sale of assets (4,392,000) 0
Loss on debt extinguishment 708,000 0
Increases (decreases) in cash caused by changes in operating assets and liabilities:    
Accounts receivable 361,000 698,000
Inventories (975,000) (93,000)
Other current assets 69,000 (253,000)
Other assets (117,000) 16,000
Accounts payable and accrued expenses (1,080,000) 254,000
Deferred revenues, related party (638,000) (2,413,000)
Deferred revenues (1,245,000) (97,000)
Long-term deferred rent (2,000) 180,000
Net cash used in operating activities (25,064,000) (23,877,000)
Cash flows from investing activities:    
Purchases of property and equipment (536,000) (1,077,000)
Proceeds from Puregraft divestiture 5,000,000  
License agreement termination fee (600,000) 0
Cash acquired in purchase of the Joint Venture 5,000 0
Net cash provided by (used in) investing activities 3,869,000 (1,077,000)
Cash flows from financing activities:    
Principal payments on long-term obligations (22,292,000) (210,000)
Proceeds from long-term obligations 27,000,000 0
Debt issuance costs and loan fees (1,744,000) 0
Payments toward purchase of Joint Venture (141,000) 0
Proceeds from exercise of employee stock options and warrants and stock purchase plan 147,000 988,000
Proceeds from sale of common stock 3,001,000 4,946,000
Costs from sale of common stock (184,000) (64,000)
Net cash provided by financing activities 5,787,000 5,660,000
Effect of exchange rate changes on cash and cash equivalents (104,000) 0
Net decrease in cash and cash equivalents (15,512,000) (19,294,000)
Cash and cash equivalents at beginning of period 25,717,000 36,922,000
Cash and cash equivalents at end of period 10,205,000 17,628,000
Cash paid during period for:    
Interest 1,592,000 1,906,000
Supplemental schedule of non-cash investing and financing activities:    
Fair value of warrants allocated to additional paid-in capital 949,000 0
Fair value of intangible assets acquired 9,394,000 0
Fair value of tangible assets acquired 260,000 0
Joint venture purchase obligation 4,709,000 0
Fair value of previously held equity interest at acquisition date $ 4,928,000 $ 0