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 $)
 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Operating activities:    
Net loss $ (25,638,377) $ (7,196,710)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 333,353 226,964
Loss on sale of property and equipment    223
Inventory allowance expense 21,420   
Amortization of deferred rent (18,104) (18,104)
Amortization of debt discounts 198,306 265,524
Adjustment to record convertible note at fair value    799,195
Stock-based compensation expense 693,068 170,521
Loss on increase in fair value of warrant liability 16,979,000   
Changes in operating assets and liabilities:    
Accounts receivable (944,334) (128,811)
Inventories (573,357) 22,692
Prepaid expense and other assets (150,064) (136,497)
Deferred costs of revenue (917,469) (480,940)
Accounts payable (271,966) (219,709)
Accrued liabilities (166,045) 46,752
Customer advances and deferred revenues 1,745,707 1,035,039
Net cash used in operating activities (8,708,862) (5,613,861)
Investing activities:    
Note receivable from stockholder 103,735   
Acquisition of property and equipment (674,864) (97,144)
Net cash used in investing activities (571,129) (97,144)
Financing activities:    
Principal payments on notes payable (2,543,606) (897,684)
Proceeds from Convertible Bridge Notes    2,000,000
Proceeds from issuance of convertible preferred stock and warrants, net of issuance costs    2,968,117
Proceeds from issuance of common stock, net of repurchases and issuance costs 21,983,452 56,313
Net cash provided by financing activities 19,439,846 4,126,746
Net increase (decrease) in cash 10,159,855 (1,584,259)
Cash at beginning of period 805,306 1,738,662
Cash at end of period 10,965,161 154,403
Supplemental disclosure of cash flow activities:    
Cash paid for interest 133,685 257,020
Cash paid for taxes 1,823 11,931
Supplemental disclosure of non-cash activities:    
Conversion of convertible preferred stock to common stock $ 27,324,208