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, 2013
Mar. 31, 2012
Cash flows from operating activities:    
Net loss $ (7,341,019) $ (6,989,072)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 76,061 33,919
Amortization of debt discount and debt offering costs 122,557 116,314
Stock compensation expense 742,860 418,304
Change in derivative liabilities    184,084
Issued stock to 401(k) plan 66,777   
Changes in operating assets and liabilities:    
Accounts receivable 2,222 (587)
Inventory (569,767) (96,951)
Prepaid expenses and other assets (121,385) (132,270)
Accounts payable 447,311 110,236
Accrued liabilities and other liabilities (821,345) (235,099)
Net cash used in operating activities (7,395,728) (6,591,122)
Cash flows from investing activities:    
Purchases of equipment (355,321) (141,427)
Patent and trademark costs (1,552)   
Net cash used in investing activities (356,873) (141,427)
Cash flows from financing activities:    
Proceeds from issuance of common stock 6,200,767 177,669
Payment of common stock issuance costs (324,384)   
Payment of tax withholdings related to stock-based compensation (659,018) (4,795)
Payment of preferred stock dividends    (25,000)
Proceeds from notes payable 4,000,000   
Payment of debt issuance costs    (153,949)
Principal payments on notes payable (735,410)   
Payments under capital leases (2,145) (1,312)
Net cash provided by (used in) financing activities 8,479,810 (7,387)
Net increase (decrease) in cash 727,209 (6,739,936)
Cash, beginning of period 9,118,564 28,644,004
Cash, end of period $ 9,845,773 $ 21,904,068