v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net (loss) income $ (9,132,019) $ 80,393,494
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 75,498 161,751
Loss on disposal and abandonment of assets 806,710
Compounded interest on long term debt 84,576 182,680
Stock compensation expense 217,147 256,384
Change in fair value of financial instruments (153,357)
Loss on extinguishment of debt 4,265,434 1,314,102
Issued warrants in connection with Asset Sale 3,337,187
Value of stock issued to directors 10,500
Value of stock issued to employees 316,902 369,342
Value of stock issued to 401(k) plan for employer matching contributions 35,980 53,707
Changes in operating assets and liabilities:    
Accounts and other receivables 12,573,372 (14,642,466)
Inventory 1,470,826
Prepaid expenses and other assets 371,538 197,025
Accounts payable (401,323) (5,502,541)
Accrued and other liabilities (112,274) (3,948,055)
Deferred revenue (5,037) (2,315,037)
Net cash provided by operating activities 8,289,794 61,992,252
Cash flows from investing activities:    
Purchases of available-for-sale securities (2,000,000)
Proceeds from sales of available-for-sale securities 200,000
Maturities of available-for-sale securities 800,000
Purchases of equipment (3,165) (8,170)
Net cash provided by (used in) investing activities 996,835 (2,008,170)
Cash flows from financing activities:    
Proceeds from issuance of common stock 200 54,319
Payment of debt-related costs (7,153,000) (1,314,102)
Principal payments on notes payable (237,862) (59,630,775)
Net cash used in financing activities (7,390,662) (60,890,558)
Net increase (decrease) in cash, cash equivalents and restricted cash 1,895,967 (906,476)
Cash, cash equivalents and restricted cash, beginning of period 2,795,006 6,540,578
Cash, cash equivalents and restricted cash, end of period $ 4,690,973 $ 5,634,102

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