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 ($)
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net loss $ (6,389,012) $ (7,250,811)
Adjustments to reconcile net loss to net cash flows from operating activities:    
Depreciation and amortization 125,076 153,545
Share-based compensation 736,982 1,421,198
Expenses paid through the issuance of common stock 259,898 107,570
Gain from change in fair value of derivative liabilities (748,080) (981,222)
Amortization of debt issuance costs and original issue discounts 323,016 342,645
Loss from retirement of fixed assets 1,689
Loss from debt restructuring 811,909
Increase (decrease) in cash resulting from changes in:    
Accounts receivable 414,506 (368,492)
Inventory (33,958) 83,987
Prepaid expenses and other current assets (96,358) (104,121)
Other assets (9,317)
Accounts payable and accrued expenses (220,304) (777,956)
Deferred revenue 106,479 62,852
Net cash flows from operating activities (4,708,157) (7,320,122)
Cash flows from investing activities:    
Purchases of property and equipment (100,324) (72,021)
Net cash flows from investing activities (100,324) (72,021)
Cash flows from financing activities:    
Proceeds from equity private placement 4,255,000
Offering costs (417,865)
Repurchase of fractional shares from reverse split of common stock (4,756)
Net cash flows from financing activities 3,832,379
Net change in cash and cash equivalents (976,102) (7,392,144)
Cash and cash equivalents, beginning of period 5,408,523 9,244,006
Cash and cash equivalents, end of period 4,432,421 1,851,862
Cash paid for:    
Income taxes
Interest 976,295 223,500
NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Transfer from inventory to property and equipment 16,541 97,878
Accrued costs included in accounts payable and accrued liabilities 540,166  
Accrued costs charged to stockholders' equity 175,799  
Accrued costs included in prepaid expenses and other current assets 364,367  
Derivative liability of warrants 191,671
Reduction from debt conversions 1,207,813
Reduction from warrant exercise $ 37,672