XML 30 R6.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS (USED IN) OPERATING ACTIVITIES    
Net loss $ (23,820,675) $ (14,352,824)
Adjustments to reconcile net loss to net cash (used in) operating activities    
Depreciation and amortization 23,269 566,262
Loss on disposal of fixed assets 49,278 6,056
Employee and director stock-based compensation - non-cash 2,095,086 1,606,947
Stock warrant expense - noncash $ 499,003 47,542
Deferred Income Tax Expense (Benefit) (2,816,884)
Gain on settlement of property damage $ (243,592)
Impairment of goodwill $ 11,070,991
Impairment of Intangible Assets (Excluding Goodwill) $ 6,670,345
Loss on settlement of note payable - related parties 1,907,772
Loss on settlement of note payable 400,016
Changes in other assets and liabilities affecting cash flows from operating activities    
Prepaid expenses, deposits and other assets $ 1,618,261 979,551
Accounts payable and accrued liabilities (1,134,798) (3,801,324)
Net cash (used in) operating activities (9,599,585) $ (9,030,133)
CASH FLOWS (USED IN) INVESTING ACTIVITIES    
Investment in Or-Genix (250,000)
Purchase of fixed assets (28,227) $ (50,911)
Net cash (used in) investing activities $ (278,227) (50,911)
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES    
Proceeds on notes payable - related party $ 400,000
Proceeds on notes payable
Payment of notes payable $ (1,540,000)
Proceeds from issuance of common stock net of offering costs 31,849,967
Net cash provided by financing activities   30,709,967
NET (DECREASE) INCREASE CASH AND CASH EQUIVALENTS $ (9,877,812) 21,628,923
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 21,883,887 254,964
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 12,006,075 21,883,887
SUPPLEMENTAL SCHEDULE OF CASH FLOW INFORMATION    
Cash paid for interest 677,250
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Conversion of accounts payable to notes payable related to Company's outside law firm 407,998
Issuance of shares of common stock and stock warrants as payment of accounts payable and accrued liabilities 1,323,771
Issuance of shares of common stock as payment of notes payable 580,055
Issuance of shares of common stock and stock warrants as payment of notes payable - related parties 1,293,105
Issuance of warrants as payment for consulting services 547,061
Acquisition of business in exchange for common stock $ 6,800,000