Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v2.4.1.9
Condensed Consolidated Statements of Cash Flows (USD $)
 3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities:    
Net loss $ (3,575,201)us-gaap_NetIncomeLoss $ (4,239,564)us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash used for operating activities:    
Depreciation 41,898us-gaap_DepreciationDepletionAndAmortization 33,944us-gaap_DepreciationDepletionAndAmortization
Amortization of intangible assets 11,772us-gaap_AmortizationOfIntangibleAssets 10,955us-gaap_AmortizationOfIntangibleAssets
Amortization of deferred financing costs 33,746us-gaap_AmortizationOfFinancingCosts 51,216us-gaap_AmortizationOfFinancingCosts
Share-based compensation 368,249us-gaap_ShareBasedCompensation 257,542us-gaap_ShareBasedCompensation
Stock grants   60,125us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims
Interest added to note 183,273us-gaap_PaidInKindInterest 891,845us-gaap_PaidInKindInterest
Change in assets and liabilities:    
Accounts receivable (289,280)us-gaap_IncreaseDecreaseInAccountsReceivable (71,458)us-gaap_IncreaseDecreaseInAccountsReceivable
Inventory (124,278)us-gaap_IncreaseDecreaseInInventories (67,661)us-gaap_IncreaseDecreaseInInventories
Prepaid expenses and other (150,579)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets 101,230us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Accounts payable and accrued expenses 992,078us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities (175,196)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Deferred revenue (5,396)us-gaap_IncreaseDecreaseInDeferredRevenue (3,571)us-gaap_IncreaseDecreaseInDeferredRevenue
Net cash used for operating activities (2,513,718)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (3,150,593)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities:    
Purchase of property and equipment (6,288)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (195,482)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Acquisition of intangible assets (32,051)us-gaap_PaymentsToAcquireIntangibleAssets (8,346)us-gaap_PaymentsToAcquireIntangibleAssets
Net cash used for investing activities (38,339)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (203,828)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities:    
Proceeds from exercise of stock options   92,424us-gaap_ProceedsFromStockOptionsExercised
Proceeds from issuance of common stock 13,772,133us-gaap_ProceedsFromIssuanceOfCommonStock  
Debt issuance costs (180,142)us-gaap_PaymentsOfDebtIssuanceCosts  
Net cash provided by financing activities 13,591,991us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 92,424us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Net increase/(decrease) in cash and cash equivalents 11,039,934us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (3,261,997)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of year 8,215,791us-gaap_CashAndCashEquivalentsAtCarryingValue 20,069,750us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents, end of period 19,255,725us-gaap_CashAndCashEquivalentsAtCarryingValue 16,807,753us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosures of cash flow activity:    
Cash paid for interest $ 803,607us-gaap_InterestPaid $ 303,919us-gaap_InterestPaid