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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
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9 Months Ended | |
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Sep. 30, 2014
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Sep. 30, 2013
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| Cash flows from operating activities: | ||
| Net loss | $ (2,609,920)us-gaap_NetIncomeLoss | $ (5,370,492)us-gaap_NetIncomeLoss |
| Adjustments to reconcile net loss to net cash flows from operating activities: | ||
| Depreciation and license amortization | 294,639us-gaap_DepreciationDepletionAndAmortization | 346,183us-gaap_DepreciationDepletionAndAmortization |
| Share-based compensation | 555,909us-gaap_ShareBasedCompensation | 1,003,028us-gaap_ShareBasedCompensation |
| Expenses paid through the issuance of common stock | 374,546us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims | 101,683us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims |
| Gain on change in fair value of derivative liabilities | (578,179)us-gaap_DerivativeGainLossOnDerivativeNet | (1,328,112)us-gaap_DerivativeGainLossOnDerivativeNet |
| Gain on negotiated reductions in account payable | (70,000)us-gaap_GainsLossesOnExtinguishmentOfDebt | (382,263)us-gaap_GainsLossesOnExtinguishmentOfDebt |
| Gain on sale of intellectual property | (4,338,601)us-gaap_GainLossOnDispositionOfIntangibleAssets | |
| Loss on loan modification | 1,356,177us-gaap_OtherNoncashExpense | |
| Amortization of debt issuance costs and and original issue discounts | 233,865us-gaap_AmortizationOfFinancingCostsAndDiscounts | 94,732us-gaap_AmortizationOfFinancingCostsAndDiscounts |
| Increase (decrease) in cash resulting from changes in: | ||
| Accounts receivable | 221,586us-gaap_IncreaseDecreaseInAccountsReceivable | (342,274)us-gaap_IncreaseDecreaseInAccountsReceivable |
| Inventory | (657,948)us-gaap_IncreaseDecreaseInInventories | (355,709)us-gaap_IncreaseDecreaseInInventories |
| Prepaid expenses and other current assets | 126,778us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets | (54,126)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets |
| Other assets | (2,125)us-gaap_IncreaseDecreaseInOtherOperatingAssets | |
| Accounts payable and accrued expenses | 1,203,834us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities | (678,042)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities |
| Deferred revenue | (12,796)us-gaap_IncreaseDecreaseInDeferredRevenue | (652,460)us-gaap_IncreaseDecreaseInDeferredRevenue |
| Net cash flows from operating activities | (5,256,287)us-gaap_NetCashProvidedByUsedInOperatingActivities | (6,263,800)us-gaap_NetCashProvidedByUsedInOperatingActivities |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (11,590)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (73,645)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
| Acquisition of license | (100,000)us-gaap_PaymentsToAcquireIntangibleAssets | |
| Net cash flows from investing activities | (11,590)us-gaap_NetCashProvidedByUsedInInvestingActivities | (173,645)us-gaap_NetCashProvidedByUsedInInvestingActivities |
| Cash flows from financing activities: | ||
| Proceeds from stock option and warrant exercises | 143,000us-gaap_ProceedsFromStockOptionsExercised | 19,625us-gaap_ProceedsFromStockOptionsExercised |
| Net cash flows from financing activities | 3,646,314us-gaap_NetCashProvidedByUsedInFinancingActivities | 9,848,639us-gaap_NetCashProvidedByUsedInFinancingActivities |
| Net change in cash and cash equivalents | (1,621,563)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | 3,411,194us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
| Cash and cash equivalents, beginning of period | 3,516,244us-gaap_CashAndCashEquivalentsAtCarryingValue | 1,620,005us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Cash and cash equivalents, end of period | 1,894,681us-gaap_CashAndCashEquivalentsAtCarryingValue | 5,031,199us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Cash paid for: | ||
| Income taxes | ||
| Interest | 223,823us-gaap_InterestPaid | 10,709us-gaap_InterestPaid |
| Equity Private Placement [Member] | ||
| Cash flows from financing activities: | ||
| Net proceeds from private placement |
9,829,014us-gaap_ProceedsFromIssuanceOfPrivatePlacement / us-gaap_StatementScenarioAxis = mric_EquityPrivatePlacementMember |
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| Debt Private Placement [Member] | ||
| Cash flows from financing activities: | ||
| Net proceeds from private placement |
$ 3,503,314us-gaap_ProceedsFromIssuanceOfPrivatePlacement / us-gaap_StatementScenarioAxis = mric_DebtPrivatePlacementMember |
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- Definition
Amount of noncash expense included in interest expense to allocate debt discount and premium, and the costs to issue debt and obtain financing over the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of gain (loss) on sale or disposal of intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair value of share-based compensation granted to nonemployees as payment for services rendered or acknowledged claims. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Other expenses or losses included in net income that result in no cash outflows or inflows in the period and are not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash outflow to acquire asset without physical form usually arising from contractual or other legal rights, excluding goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash inflow associated with the amount received from entity's raising of capital via private rather than public placement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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