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Supplemental Disclosure for Statements of Cash Flows
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12 Months Ended |
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Dec. 31, 2014
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| Supplemental Cash Flow Elements [Abstract] | |
| Supplemental Disclosure for Statements of Cash Flows |
Supplemental Disclosure for Statements of Cash Flows
During 2014, 2013 and 2012, we paid interest aggregating $2.9 million, $1.9 million and $647,000, respectively. During 2013, we issued 100,000 shares of our common stock as partial payment of a milestone fee. During 2014, 2013, and 2012, we issued 36,455, 22,126 and 17,390 shares of our common stock, respectively, as matching contributions to our 401(k) Plan. During 2012, we issued 300,000 shares of our common stock as partial payment for the execution of a sublicense agreement. During 2012, we prepaid $267,000 of insurance premiums through the issuance of a note payable to a finance company with an interest rate of 2.8%. During 2012, we purchased equipment under a capital lease totaling $9,000.
During 2013, the Company and Platinum entered into an Exercise Agreement, pursuant to which Platinum exercised its Series X Warrant and Series AA Warrant for 2,364.9 shares of the Company’s Series B Preferred Stock. These warrants were exercised on a cashless basis by canceling a portion of the indebtedness outstanding under the Platinum Loan Agreement equal to $4.8 million, the aggregate exercise price of the warrants.
Also during 2013, in conjunction with the GECC/MidCap Loan Agreement and the Crede Securities Purchase Agreement, we issued warrants with estimated fair values of $631,000 and $7.7 million, respectively. Additionally, $1.0 million of the debt discount fees related to the GECC/MidCap Loan Agreement have been deferred through the maturity date of the loan.
During 2014, in connection with the Oxford Loan Agreement, we issued warrants with an estimated relative fair value of $465,000. In addition, $3.0 million of the debt discount fees related to the Oxford Loan Agreement have been deferred through the maturity date of the loan.
Also during 2014, in connection with entering into the R-NAV joint enterprise, Navidea executed a promissory note in the principal amount of $666,666, payable in two equal installments on July 15, 2015 and July 15, 2016, the first and second anniversaries of the R-NAV transaction. See Note 7.
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