Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net loss $ (10,367,556) $ (16,982,144)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 267,368 299,139
(Gain) loss on disposal and abandonment of assets (13,861) 14,749
Change in inventory reserve   92,751
Amortization of debt discount and issuance costs 77,964 358,924
Debt discount and issuance costs written off 1,955,541  
Prepayment premium and debt collection fees related to long term debt 2,923,271  
Compounded interest on long term debt 1,176,931 429,074
Stock compensation expense 261,302 1,519,020
Equity in loss of R-NAV, LLC   241,574
Loss on disposal of investment in R-NAV, LLC 39,732  
Change in fair value of financial instruments (2,595,287) 125,627
Loss on extinguishment of debt   2,440,714
Issued stock to 401(k) plan for employer matching contributions 0 117,099
Changes in operating assets and liabilities:    
Accounts receivable 181,810 (1,013,046)
Inventory (116,914) (355,475)
Prepaid expenses and other assets 119,592 680,566
Accounts payable 3,367,112 (119,838)
Accrued and other liabilities 1,860,726 (377,132)
Deferred revenue (529,244) 1,666,667
Net cash used in operating activities (1,356,693) (10,792,108)
Cash flows from investing activities:    
Purchases of equipment (1,847) (27,618)
Proceeds from sales of equipment 45,000 20,300
Patent and trademark costs   (9,993)
Payments on disposal of investment in R-NAV, LLC (110,000)  
Proceeds from disposal of investment in R-NAV, LLC 27,623  
Net cash used in investing activities (39,224) (17,311)
Cash flows from financing activities:    
Proceeds from issuance of MT Preferred Stock and warrants   500,000
Payment of preferred stock issuance costs   (12,587)
Proceeds from issuance of common stock 140 60,422
Payment of tax withholdings related to stock-based compensation   (23,468)
Proceeds from notes payable   54,500,000
Payment of debt-related costs (3,923,271) (3,902,487)
Principal payments on notes payable (189,163) (30,000,000)
Restricted cash held for payment against debt (500,997)  
Payments under capital leases (1,411) (1,232)
Net cash (used in) provided by financing activities (4,614,702) 21,120,648
Net (decrease) increase in cash (6,010,619) 10,311,229
Cash, beginning of period 7,166,260 5,479,006
Cash, end of period 1,155,641 15,790,235
Directors [Member]    
Adjustments to reconcile net loss to net cash used in operating activities:    
Value of restricted stock issued to directors $ 34,820 $ 69,623