Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flow

v3.8.0.1
Consolidated Statements of Cash Flow - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash flow from operating activities    
Net loss $ (14,763) $ (23,912)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 1,435 1,652
Amortization of intangible assets 501 501
Amortization of lease incentive for tenant improvements 20 20
Impairment of property and equipment 852
Non cash interest expense 2,904 2,194
Non cash issuance of stock to settle litigation 794
(Gain) loss on extinguishment of debt 661 (2,171)
Stock based compensation 273 911
Change in fair value of derivative liabilities (2,476) 7,605
Loss on extinguishment of derivative liabilities (1) 1,263
(Gain) loss on disposal of equipment (27) (21)
Provision for inventory reserve 1,161 1,333
Bad debt expense (27)
Offering costs 571 821
Changes in operating assets and liabilities:    
Trade accounts receivable 1,040 (120)
Prepaid expenses and other current assets (3) (74)
Inventories 749 1,357
Accounts payable and accrued liabilities (861) (395)
Net cash used in operating activities (7,170) (9,063)
Cash flows from investing activities    
Purchase of property and equipment (671) (695)
Proceeds from sale of property and equipment 54 37
Net cash used in investing activities (617) (658)
Cash flows from financing activities    
Proceeds from issuance of common stock, net of issuance costs ( $300) 2,540 4,337
Proceeds from issuance of preferred stock, net of issuance costs ( $371) 3,622
Proceeds from issuance of warrant derivative liability, net of issuance costs of ($571) 5,246
Proceeds from issuance of stock in connection with exercise of warrants, net of issuance costs 447 5,863
Payments on long-term debt (6,630) (2,949)
Debt extinguishment payments (1,728) (4,112)
Payments for capital lease (13)
Deferred cost paid for debt (267) (60)
Purchase of treasury stock (120)
Net cash provided by financing activities 3,217 2,959
Net increase (decrease) in cash and cash equivalents (4,570) (6,762)
Cash and cash equivalents at beginning of period 11,485 18,247
Cash and cash equivalents at end of period $ 6,915 $ 11,485
Noncash investing and financing activities    
Preferred stock converted to common stock 6
Derivative liability reduced with exercise of warrants $ 274
Reclassification of derivative liability 4,229
Capital lease for property and equipment 60
Notes payable and accrued interest converted to common stock 2,679 202
Debt exchange - Riverside 3,000
Debt discount for Riverside not - beneficial conversion feature and (BCF) warrants 1,138
Common stock issued for cashless exercise of warrant derivative liabilities 19,772
Issuance of treasury stock upon conversion of RSUs to common stock 120
Derivative liabilities recorded as a debt discount 382
Deemed dividend on convertible preferred stock 6,278
Supplemental cash flow information    
Cash paid for interest $ 1,606 $ 2,379