Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows - Unaudited

v3.3.0.814
Condensed Consolidated Statements of Cash Flows - Unaudited - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities    
Net loss $ (21,447) $ (22,884)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 1,265 1,368
Amortization of intangible assets 375 375
Amortization of lease incentive for tenant improvements 15 15
Non cash interest expense 1,724 961
(Gain) loss on extinguishment of debt (2,324) 1,596
Stock-based compensation 780 10,851
Change in fair value of derivative liabilities 8,879 (1,325)
(Gain) loss on extinguishment of derivative liabilities 1,263 0
(Gain) loss on disposal of equipment (15) 112
Provision for inventory reserve 954 1,500
Bad debt expense (7) 38
Offering costs 821 0
Changes in operating assets and liabilities:    
Trade accounts receivable 144 (388)
Prepaid expenses and other current assets (334) 2,604
Inventories 1,158 (4,047)
Accounts payable and accrued liabilities (316) (2,209)
Net cash used in operating activities (7,065) (11,433)
Cash flows from investing activities    
Purchase of property and equipment (501) (2,027)
Proceeds from sale of property and equipment 28 30
Decrease in restricted cash 0 392
Net cash used in investing activities (473) (1,605)
Cash flows from financing activities    
Proceeds from issuance of common stock, net of issuance costs 4,337 15,369
Payments on long-term debt (1,158) (18,000)
Debt extinguishment payments (2,500) (735)
Proceeds from issuance of long-term debt 0 25,800
Payment of deferred financing costs 0 (1,315)
Purchase of treasury stock (120) 0
Net cash provided by financing activities 559 21,119
Net increase (decrease) in cash and cash equivalents (6,979) 8,081
Cash and cash equivalents at beginning of period 18,247 2,279
Cash and cash equivalents at end of period 11,268 10,360
Noncash investing and financing activities    
Reclassification of warrant liability 0 5
Deferred financing costs included in accounts payable and accrued liabilities 0 64
Stock and derivative liabilities issued with long-term debt 0 3,350
Derivative liabilities issued for prepaid financing costs 0 46
Common stock issued for cashless exercise of a derivative liability 11,589 0
Issuance of treasury stock upon conversion of RSUs to common stock 120 0
Derivative liabilities recorded as a debt discount 382 0
Supplemental cash flow information    
Cash paid for interest 1,845 1,167
Preferred Stock    
Noncash investing and financing activities    
Stock conversion 0 161,456
Common Stock    
Noncash investing and financing activities    
Stock conversion $ 202 $ 0