• Filing Date: 2014-08-14
  • Form Type: 10-Q
  • Description: Quarterly report
v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash Flows from Operating Activities:    
Net loss $ (4,267,719) $ (2,939,070)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 163,159 134,607
Stock-based compensation 1,642,194 1,051,642
Amortization of deferred financing costs 0 28,159
(Increase) decrease in operating assets:    
Accounts receivable 61,831 56,755
Inventory (96,140) 0
Prepaid expenses and other assets 5,720 (160,510)
Increase (decrease) in operating liabilities:    
Accounts payable 27,901 (33,488)
Accrued expenses (53,225) 0
Total adjustments 1,751,440 1,077,165
Net Cash Used in Operating Activities (2,516,279) (1,861,905)
Cash Flows from Investing Activities:    
Purchase of property and equipment (17,607) (11,290)
Acquisition of intellectual property 0 0
Net Cash Used in Investing Activities (17,607) (11,290)
Cash Flows from Financing Activities:    
Proceeds from issuance of stock 2,523,800 3,820,499
Net Cash Provided by Financing Activities 2,523,800 3,820,499
Net Increase (Decrease) in Cash and Cash Equivalents (10,086) 1,947,304
Cash and Cash Equivalents, beginning of period 1,740,989 362,598
Cash and Cash Equivalents, end of period 1,730,903 2,309,902
Supplemental Disclosure Information:    
Cash paid for interest 10,129 32,826
Cash paid for taxes $ 0 $ 0