General form of registration statement for all companies including face-amount certificate companies

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 3 Months Ended 12 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:        
Net loss $ (3,437,508) $ (2,109,325) $ (9,417,958) $ (9,219,220)
Adjustments to reconcile net loss to net cash used for operating activities:        
Depreciation 23,140 55,691 187,749 273,528
Amortization of intangible assets 14,687 29,419 127,080 67,147
Loss on impairment     299,654  
Loss on abandonment of license     147,826  
Amortization of deferred financing costs 44,216 22,713 352,667 1,223,126
Amortization of debt discount   12,238 161,529 23,643
Share-based compensation 259,912 157,860 495,077 250,044
Directors Stock Compensation 0   0 15,000
Stock grant for service     21,375  
Cancellation of shares     (14,999)  
Change in fair value of warrant liability       (62,305)
Interest added to note payable 858,151   780,252 55,562
Change in assets and liabilities:        
Accounts receivable (129,049) (96,329) (252,435) (368,954)
Inventory (269,144) (365,796) (1,390,570) 142,249
Prepaid expenses and other 45,223 (106,033) (53,757) 20,070
Accounts payable and accrued expenses (60,814) (78,727) (105,348) 500,820
Net cash used for operating activities (2,651,186) (2,478,289) (8,661,858) (7,079,290)
Cash flows from investing activities:        
Purchase of property and equipment (26,007) (29,313) (48,459) (20,610)
Acquisition of intangible assets (31,415) (41,236) (78,825) (68,856)
Cash acquired with Merger       7,201,638
Net cash (used for) provided by investing activities (57,422) (70,549) (127,284) 7,112,172
Cash flows from financing activities:        
Proceeds from issuance of long-term debt       10,500,000
Proceeds from issuance of note payable     15,961,294  
Proceeds from issuance of common stock       1,000,000
Repayments of long-term debt     (161,292) (4,732,857)
Debt issuance costs     (1,309,834) (434,772)
Proceeds from exercise of stock options 1,654 63 15,652 26,480
Payment of fractional shares from Merger   (59) (58)  
Net cash provided by financing activities 1,654 4 14,505,762 6,358,851
Net increase (decrease)in cash and cash equivalents (2,706,954) (2,548,834) 5,716,620 6,391,733
Cash and cash equivalents, beginning of year 13,907,401 8,190,781 8,190,781 1,799,048
Cash and cash equivalents, end of period 11,200,447 5,641,947 13,907,401 8,190,781
Supplemental disclosures of cash flow activity:        
Cash paid for interest 172,527 125,125 649,108 1,029,753
Supplemental disclosure of non-cash investing and financing activities:        
Payments of long term debt with proceeds from note payable (this amount represents a payment made by PDL directly to MidCap Financial SBIC, LP)     4,838,706  
Conversion of preferred stock, convertible debt and accrued interest into common stock       21,497,955
Preferred stock dividend payable forfeited with the Merger       7,076,729
Warrant Liability forfeited with the Merger       2,607,510
Debt discount related to warrants issued with debt       173,736
Net assets acquired on Merger       11,847,916
Note and accrued interest retired with the Merger       4,555,562
Directors stock compensation included in prepaid expenses       60,000
Series B Preferred Stock
        
Supplemental disclosure of non-cash investing and financing activities:        
Accretion of dividends preferred stock       292,330
Series C Preferred Stock
        
Supplemental disclosure of non-cash investing and financing activities:        
Accretion of dividends preferred stock       515,577
Series D Preferred Stock
        
Supplemental disclosure of non-cash investing and financing activities:        
Accretion of dividends preferred stock       $ 220,444