Quarterly report pursuant to sections 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Operating activities:    
Net loss $ (81,765,359) $ (3,796,754)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 156,890 111,719
Amortization of deferred rent (9,052) (9,052)
Amortization of debt discounts 197,613 137,449
Adjustment to record convertible note at fair value    360,324
Stock-based compensation expense 366,640 86,155
Loss on increase in fair value of warrant liability 77,436,700   
Other    (8,298)
Changes in operating assets and liabilities:    
Accounts receivable (1,225,579) (111,842)
Inventories (494,689) 4,950
Prepaid expense and other assets (155,893) (39,471)
Deferred costs of revenue (529,777) (304,826)
Accounts payable (454,384) 234,510
Accrued liabilities 134,999 30,517
Customer advances and deferred revenues 779,069 942,113
Net cash used in operating activities (5,562,822) (2,362,506)
Investing activities:    
Note receivable from stockholder 103,735   
Acquisition of property and equipment (248,390) (37,412)
Net cash used in investing activities (144,655) (37,412)
Financing activities:    
Principal payments on notes payable (2,532,244) (436,148)
Proceeds from Convertible Bridge Notes    1,500,000
Proceeds from issuance of common stock, net of repurchases and issuance costs 22,010,793 52,740
Net cash provided by financing activities 19,478,549 1,116,592
Net increase (decrease) in cash 13,771,072 (1,283,326)
Cash at beginning of period 805,306 1,738,662
Cash at end of period 14,576,378 455,336
Supplemental disclosure of cash flow activities:    
Cash paid for interest 130,271 135,558
Cash paid for taxes 1,810 800
Supplemental disclosure of non-cash activities:    
Conversion of convertible preferred stock to common stock $ 27,324,208