Consolidated Statements of Cash Flows - USD ($)
|
12 Months Ended |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
| Operating activities: |
|
|
|
| Net loss |
$ (18,752,000)
|
$ (7,317,000)
|
$ (6,558,000)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
| Depreciation and amortization |
527,000
|
522,000
|
301,000
|
| Gain on sale of fixed asset |
|
|
(5,000)
|
| Stock-based compensation |
1,694,000
|
1,375,000
|
907,000
|
| Loss on contract modification |
2,126,000
|
|
|
| Restricted stock compensation issued to officer |
|
182,000
|
312,000
|
| Fair Value Adjustment of Warrants |
4,117,000
|
(1,946,000)
|
(2,700,000)
|
| Loss from change in value of option liabilities |
2,613,000
|
|
|
| Debt discount amortization |
|
|
373,000
|
| Changes in operating assets and liabilities: |
|
|
|
| Trade accounts receivable |
(65,000)
|
53,000
|
132,000
|
| Inventory |
(307,000)
|
(83,000)
|
|
| Prepaid expenses and other current assets |
96,000
|
(34,000)
|
38,000
|
| Other assets |
(5,000)
|
|
(3,000)
|
| Accounts payable and accrued liabilities |
204,000
|
337,000
|
(216,000)
|
| Deferred revenue |
(64,000)
|
77,000
|
|
| Net cash used in operating activities |
(7,816,000)
|
(6,834,000)
|
(7,419,000)
|
| Investing Activities: |
|
|
|
| Purchases of property and equipment |
(198,000)
|
(675,000)
|
(1,061,000)
|
| Decrease (increase) in restricted cash |
2,003,000
|
(2,008,000)
|
|
| Proceeds from sale of fixed assets |
|
|
5,000
|
| Investment in patents and trademarks |
(22,000)
|
|
(9,000)
|
| Net cash provided by (used in) investing activities |
1,783,000
|
(2,683,000)
|
(1,065,000)
|
| Financing Activities: |
|
|
|
| Proceeds from (repayment of) short-term debt |
(700,000)
|
700,000
|
|
| Proceeds from exercise of stock options |
206,000
|
13,000
|
205,000
|
| Proceeds from exercise of warrants |
|
|
226,000
|
| Proceeds from stock issuance, net of issuance costs |
62,650,000
|
1,568,000
|
16,000,000
|
| Net cash provided by financing activities |
62,156,000
|
2,281,000
|
16,431,000
|
| Net increase (decrease) in cash |
56,123,000
|
(7,236,000)
|
7,947,000
|
| Cash at beginning of period |
2,773,000
|
10,009,000
|
2,062,000
|
| Cash at end of period |
58,896,000
|
2,773,000
|
10,009,000
|
| Supplemental Schedule of Non-Cash Investing and Financing Activities: |
|
|
|
| Cashless exercise of warrants |
665,000
|
|
|
| Accrued capital expenditures |
|
|
$ 5,000
|