XML 23 R7.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 $ (81,010,501) $ (55,466,246) $ (39,485,334)
Adjustments to reconcile net loss to net cash used in operating activities:      
Common stock, stock options and warrants issued as payment for compensation, services rendered 9,750,110 11,209,542 6,838,559
Depreciation and amortization 2,686,779 2,186,949 1,605,608
Changes in fair value of derivative liability 0 (23,175) (77,981)
Changes in acquisition-related contingent consideration (18,260,000) (3,080,000) 1,900,000
Impairment of Intangible Assets, Finite-lived 62,273,336 0 0
Bad debt (recovery) expense 0 (6,467) (234,225)
Deferred income taxes (17,243,528) (104,202) 780,104
Amortization/Accretion on Marketable Securities 95,095 51,517 0
Changes in operating assets and liabilities:      
Prepaids and other current assets 872,990 (2,768,062) (758,798)
Accounts receivable 545,173 (1,198,844) (573,005)
Deferred costs (344,753) (1,296,766) (157,198)
Unearned revenues 1,011,104 2,517,520 348,260
Other assets 286,607 613,175 (204,422)
Accounts payable, accrued liabilities and other liabilities 79,257 469,821 2,916,739
Net cash used in operating activities (39,258,331) (46,895,238) (27,101,693)
Cash flows from investing activities:      
Cash Acquired from Acquisition 0 50,894 0
Payments to Acquire Marketable Securities 6,081,900 8,043,241 0
Proceeds from Sale and Maturity of Marketable Securities 13,066,014 913,000 0
Acquisition of property and equipment 3,185,737 3,657,352 2,691,471
Net cash provided by (used in) investing activities 3,798,377 (10,736,699) (2,691,471)
Cash flows from financing activities:      
Proceeds from exercise of options 0 271,008 150,658
Proceeds from exercise of warrants 0 1,720,725 3,028,241
Net proceeds from issuance of capital stock 36,471,269 16,710,645 58,736,165
Proceeds from long term debt 0 15,000,000 0
Debt issuance costs 0 (523,830) 0
Repayment of mortgage loan 0 3,236,721 201,754
Proceeds from notes payable 1,087,361 1,827,413 1,041,347
Repayment of notes payable 954,326 1,097,001 503,172
Payment for warrant inducement 0 0 62,014
Net cash provided by financing activities 36,604,304 30,672,239 62,189,471
Net (decrease) increase in cash and cash equivalents 1,144,350 (26,959,698) 32,396,307
Cash and cash equivalents at beginning of year 19,174,061 46,133,759 13,737,452
Cash and cash equivalents at end of year 20,318,411 19,174,061 46,133,759
Cash paid during the period for:      
Interest 1,497,845 232,500 274,100
Taxes 0 0 0
Supplemental schedule of non-cash financing activities      
Common stock and contingent consideration issued in merger $ 0 $ 33,490,351 $ 0