Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:    
Net loss $ (6,895,309) $ (3,139,044)
Adjustments to reconcile net loss to net cash used for operating activities:    
Depreciation 42,813 101,869
Amortization of intangible assets 29,405 63,671
Amortization of deferred financing costs 85,432 45,427
Amortization of debt discount   24,506
Share-based compensation 392,473 329,062
Interest added to note 1,803,439  
Change in assets and liabilities:    
Accounts receivable (365,435) (64,574)
Inventory (424,670) (707,247)
Prepaid expenses and other 59,930 (236,880)
Accounts payable and accrued expenses 108,186 118,933
Net cash used for operating activities (5,163,736) (3,464,277)
Cash flows from investing activities:    
Purchase of property and equipment (45,315) (31,040)
Acquisition of intangible assets (39,060) (49,126)
Net cash used for investing activities (84,375) (80,166)
Cash flows from financing activities:    
Debt issuance costs   (16,701)
Proceeds from exercise of stock options 33,393 9,215
Payment of fractional shares from Merger   (59)
Net cash provided by (used for) financing activities 33,393 (7,545)
Net decrease in cash and cash equivalents (5,214,718) (3,551,988)
Cash and cash equivalents, beginning of year 13,907,401 8,190,781
Cash and cash equivalents, end of period 8,692,683 4,638,793
Supplemental disclosures of cash flow activity:    
Cash paid for interest $ 458,394 $ 276,718