Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net loss $ (5,247,000) $ (5,544,000)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 250,000 174,000
Stock option compensation expense 1,492,000 1,592,000
Restricted common stock expense issued to directors, employees and consultants 362,000 1,892,000
Change in operating assets and liabilities:    
Receivables (24,000) (129,000)
Prepaid expenses and other current assets (308,000) 114,000
Other assets 0 (40,000)
Accounts payable (2,231,000) 167,000
Contingent consideration liability 0 (591,000)
Deferred revenue (151,000) (151,000)
Net cash used in operating activities (5,857,000) (2,516,000)
Cash flows from investing activities:    
Capital expenditures (74,000) (227,000)
Net cash used in investing activities (74,000) (227,000)
Cash flows from financing activities:    
Proceeds from exercise of stock options 1,000 0
Net cash provided by financing activities 1,000 0
Net decrease in cash and cash equivalents (5,930,000) (2,743,000)
Cash and cash equivalents at beginning of period 69,142,000 40,138,000
Cash and cash equivalents at end of period $ 63,212,000 $ 37,395,000