Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net loss $ (10,448,090) $ (5,375,853)
Adjustments to reconcile net loss to net cash used for operating activities:    
Depreciation 60,869 145,891
Amortization of intangible assets 44,176 245,002
Amortization of deferred financing costs 146,648 68,141
Amortization of debt discount   36,806
Share-based compensation 534,673 478,701
Interest added to note 2,752,273  
Change in assets and liabilities:    
Accounts receivable (690,127) (127,890)
Inventory (308,955) (962,130)
Prepaid expenses and other 9,821 (75,228)
Accounts payable and accrued expenses (162,631) 278,394
Net cash used for operating activities (8,061,343) (5,288,166)
Cash flows from investing activities:    
Purchase of property and equipment (66,564) (37,429)
Acquisition of intangible assets (50,262) (82,294)
Net cash used for investing activities (116,826) (119,723)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt   1,750,000
Proceeds from issuance of common stock 16,784,203  
Debt issuance costs   (118,476)
Proceeds from exercise of stock options 73,015 30,741
Payment of fractional shares from Merger   (58)
Net cash provided by financing activities 16,857,218 1,662,207
Net increase (decrease) in cash and cash equivalents 8,679,049 (3,745,682)
Cash and cash equivalents, beginning of year 13,907,401 8,190,781
Cash and cash equivalents, end of period 22,586,450 4,445,099
Supplemental disclosures of cash flow activity:    
Cash paid for interest $ 749,857 $ 447,144