Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.4.0.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net loss $ (5,544,000) $ (2,000,000)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 174,000 118,000
Stock option compensation expense 1,592,000 224,000
Stock issued to directors, employees and consultants 1,892,000 32,000
Stock issued for services 0 87,000
Change in operating assets and liabilities:    
Receivables (129,000) (109,000)
Prepaid expenses and other current assets 114,000 (98,000)
Other assets (40,000) (9,000)
Accounts payable 167,000 (1,258,000)
Contingent consideration liability (591,000) 0
Deferred revenue (151,000) (150,000)
Net cash used in operating activities (2,516,000) (3,163,000)
Cash flows from investing activities:    
Capital expenditures (227,000) (9,000)
Net cash used in investing activities (227,000) (9,000)
Cash flows from financing activities:    
Payment of short-term debt 0 (400,000)
Net cash used in financing activities 0 (400,000)
Net decrease in cash and cash equivalents (2,743,000) (3,572,000)
Cash and cash equivalents at beginning of period 40,138,000 11,520,000
Cash and cash equivalents at end of period $ 37,395,000 $ 7,948,000