Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (21,461,000) $ (23,489,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 2,000 0
Amortization of intangible assets 0 22,000
Stock compensation expense for options and warrants issued to employees and non-employees 3,761,000 2,630,000
Note Allonges 3,667,000 0
Amortization of debt discounts 2,494,000 2,759,000
Non-cash interest expense 9,840,000 2,764,000
Change in value of warrant and derivative liabilities (3,865,000) 13,962,000
Note Settlement 0 (176,000)
Changes in operating assets and liabilities:    
Inventory 0 42,000
Other assets 25,000 13,000
Accounts payable and accrued expenses 880,000 (276,000)
Net cash used in operating activities (4,657,000) (1,749,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of fixed assets (1,000) (6,000)
Net cash used by investing activities (1,000) (6,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from notes payable 3,850,000 2,589,000
Repayment of note payable 0 (6,000)
Net cash provided by financing activities 3,850,000 2,583,000
Minority Interest 0 (16,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (808,000) 812,000
CASH AND CASH EQUIVALENTS - Beginning of period 855,000 43,000
CASH AND CASH EQUIVALENTS - End of period $ 47,000 $ 855,000