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, 2014
Sep. 30, 2013
Operating activities:    
Net loss $ (13,614,016) $ (9,090,634)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 535,400 342,148
Loss on sale of property and equipment    223
Inventory allowance expense 21,420   
Amortization of deferred rent (27,156) (27,154)
Amortization of debt discounts 191,111 126,010
Amortization of notes payable offering costs    6,974
Interest expense accrued to convertible notes    162,563
Interest income added to note receivable from stockholder   (3,525)
Adjustment to record convertible note at fair value    799,195
Stock-based compensation expense 810,399 278,155
Loss on increase in fair value of warrant liability 1,205,900 33,063
Changes in operating assets and liabilities:    
Accounts receivable (1,372,105) 122,954
Inventories (160,722) (339,147)
Prepaid expense and other assets (80,072) (80,658)
Deferred costs of revenue (1,541,055) (384,283)
Accounts payable (422,328) 194,793
Accrued liabilities (108,119) (169,504)
Customer advances and deferred revenues 2,266,179 1,267,074
Net cash used in operating activities (12,295,164) (6,761,753)
Investing activities:    
Note receivable from stockholder 103,735   
Acquisition of property and equipment, net (917,437) (49,627)
Net cash used in investing activities (813,702) (49,627)
Financing activities:    
Principal payments on notes payable (2,547,261) (1,046,077)
Proceeds from Convertible Bridge Notes    2,000,000
Proceeds from issuance of convertible preferred stock and warrants, net of issuance costs    4,294,259
Proceeds from issuance of common stock, net of repurchases and issuance costs 22,027,089 51,634
Net cash provided by financing activities 19,479,828 5,299,816
Net increase (decrease) in cash 6,370,962 (1,511,564)
Cash at beginning of period 805,306 1,738,662
Cash at end of period 7,176,268 227,098
Supplemental disclosure of cash flow activities:    
Cash paid for interest 136,085 306,792
Cash paid for taxes 1,698 13,903
Supplemental disclosure of non-cash activities:    
Conversion of convertible preferred stock to common stock $ 27,324,208 $ 6,285,033