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

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Operating activities:    
Net loss $ (11,887,374) $ (15,041,958)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 468,906 342,078
Loss on sale of property and equipment 223 20,212
Inventory allowance expense (7,574) 19,432
Amortization of deferred rent (36,207) 157,066
Amortization of debt discounts 169,248 120,931
Amortization of notes payable offering costs 21,137 7,871
Interest expense accrued to convertible notes 230,805 42,475
Interest income added to note receivable from stockholder    (3,810)
Fair value of warrant accounted for as a reduction of revenue    57,494
Adjustment to record convertible note at fair value 799,194 174,292
Stock-based compensation expense 390,617 333,466
Gain due to changes in fair value of warrant liability (186,075) (17,126)
Changes in operating assets and liabilities:    
Accounts receivable 238,771 (396,603)
Inventories (102,157) (828,776)
Prepaid expense and other assets (87,335) (5,326)
Deferred costs of revenue (441,650) (1,130,246)
Accounts payable (231,050) 808,813
Accrued liabilities 433,323 74,259
Customer advances and deferred revenues 1,163,626 2,602,311
Net cash used in operating activities (9,063,577) (12,663,145)
Investing activities:    
Security deposits    10,000
Note receivable from stockholder    (45,000)
Acquisition of property and equipment (393,734) (832,303)
Proceeds from sales of property and equipment 14,511 2,465
Net cash used in investing activities (379,223) (864,838)
Financing activities:    
Proceeds from issuance of 2013 Series B Convertible Bridge Notes, net of issuance costs 4,929,196   
Proceeds from issuance of notes payable and warrants, net of issuance costs    3,500,000
Principal payments on notes payable (1,829,466) (609,753)
Proceeds from issuance of 2012 Series B Convertible Bridge Notes 2,000,000 3,311,546
Proceeds from issuance of convertible preferred stock and warrants, net of issuance costs 4,152,329 8,476,074
Payments for private placement offerings (947,758)   
Proceeds from issuance of common stock, net of repurchases 205,143 30,904
Net cash provided by financing activities 8,509,444 14,708,771
Net (decrease) increase in cash (933,356) 1,180,788
Cash at beginning of period 1,738,662 557,874
Cash at end of period 805,306 1,738,662
Supplemental disclosure of cash flow activities:    
Cash paid for interest 632,540 387,391
Cash paid for taxes 25,035 172
Supplemental disclosure of non-cash activities:    
Acquisition of property and equipment with note payable    200,000
Acquisition of property and equipment with capital lease    23,079
Preferred stock and common warrants issued to lender 5,293 355,116
Conversion of principal on convertible notes into Series B convertible preferred stock 6,490,071   
Common stock warrants issued in connection with Series B convertible preferred stock offering 168,872   
Vesting of early exercised stock options $ 5,283 $ 13,233