Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Cash flows from operating activities:    
Net loss $ (6,989,072) $ (4,422,129)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 33,919 59,597
Loss on disposal and abandonment of assets   14,144
Amortization of debt discount and debt offering costs 116,314  
Stock compensation expense 418,304 1,004,825
Change in derivative liabilities 184,084 953,789
Issuance of common stock to 401(k) Plan   48,289
Changes in operating assets and liabilities:    
Accounts receivable (587) 223,203
Inventory (96,951) (57,017)
Prepaid expenses and other assets (132,270) 79,645
Accounts payable 110,236 (664,242)
Accrued liabilities and other liabilities (235,099) 812,092
Deferred revenue   158,215
Net cash used in operating activities (6,591,122) (1,789,589)
Cash flows from investing activities:    
Purchases of equipment (141,427) (56,625)
Patent and trademark costs   (4,660)
Net cash used in investing activities (141,427) (61,285)
Cash flows from financing activities:    
Proceeds from issuance of common stock 177,669 5,189,262
Payment of tax withholdings related to stock-based compensation (4,795)  
Payment of preferred stock dividends (25,000) (25,000)
Payment of debt issuance costs (153,949)  
Payment of notes payable   (26,437)
Payments under capital leases (1,312) (3,029)
Net cash (used in) provided by financing activities (7,387) 5,134,796
Net (decrease) increase in cash (6,739,936) 3,283,922
Cash, beginning of period 28,644,004 6,420,506
Cash, end of period $ 21,904,068 $ 9,704,428