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Consolidated Statements of Cash Flows (USD $) | 12 Months Ended
--- | ---
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011
Cash flows from operating activities: |  |  |
Net loss | $ (5,845,087) | $ (3,063,601) | $ (4,134,068)
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
Depreciation and amortization | 45,212 | 34,963 | 39,857
Stock-based compensation | 2,719,380 | 878,578 | 702,837
Bad debts | 81,198 |  |
Recovery of uncollectible receivables |  |  | (70,000)
Changes in assets and liabilities: |  |  |
Royalty receivables | (260,042) | (354,268) | 116,127
Prepaid expenses and other current assets | 94,544 | (107,218) | (5,037)
Accounts payable and accrued expenses | (80,064) | (67,547) | (2,300)
Net cash used in operating activities | (3,244,859) | (2,679,093) | (3,352,584)
Cash flows from investing activities: |  |  |
Purchases of fixed assets | (50,536) | (11,576) | (12,517)
Purchase of investments | (24,009) | (3,797,865) | (2,255,056)
Proceeds from sale of investment |  |  | 1,000,000
Note and interest receivable on SPD Control Systems |  | 224,903 |
Net cash used in investing activities | (74,545) | (3,584,538) | (1,267,573)
Cash flows from financing activities: |  |  |
Net proceeds from issuances of common stock and exercise of options and warrants | 795,294 | 12,250,500 | 65,977
Net cash provided by financing activities | 795,294 | 12,250,500 | 65,977
Net (decrease) increase in cash and cash equivalents | (2,524,110) | 5,986,869 | (4,554,180)
Cash and cash equivalents at beginning of year | 8,390,233 | 2,403,364 | 6,957,544
Cash and cash equivalents at end of year | 5,866,123 | 8,390,233 | 2,403,364
Non Cash Financing and Investing Activities: |  |  |
Cashless Exercise of Stock Options | $ 27,675 |  | $ 276,750

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