Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net loss $ (3,825,782) $ (7,005,405)
Adjustments to reconcile net loss to net cash flows from operating activities:    
Depreciation and amortization 88,678 137,356
Share-based compensation 498,881 1,152,309
Expenses paid through the issuance of common stock 230,397 72,326
Gain (loss) from change in fair value of derivative liabilities (424,045) 969,106
Amortization of debt issuance costs and original issue discounts 234,943 223,739
Loss from retirement of fixed assets 1,689  
Gain from debt restructuring (121,224)
Increase (decrease) in cash resulting from changes in:    
Accounts receivable 448,320 (18,154)
Inventory 51,483 (188,079)
Prepaid expenses and other current assets (161,552) (128,130)
Other assets (227,570) (16,715)
Accounts payable and accrued expenses (193,063) (885,757)
Deferred revenue 106,628 (29,490)
Net cash flows from operating activities (3,292,217) (5,716,894)
Cash flows from investing activities:    
Purchases of property and equipment (100,324) (7,377)
Net cash flows from investing activities (100,324) (7,377)
Cash flows from financing activities:    
Offering costs
Net cash flows from financing activities
Net change in cash and cash equivalents (3,392,541) (5,724,271)
Cash and cash equivalents, beginning of period 5,408,523 9,244,006
Cash and cash equivalents, end of period 2,015,982 3,519,735
Cash paid for:    
Income taxes
Interest 739,323
NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Transfer from inventory to property and equipment 89,184 $ 63,196
Derivative liability of warrants $ 192,173