|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
|
12 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
| OPERATING ACTIVITIES: |
|
|
|
| Net loss attributable to the Company |
$ (62,669,682) |
$ (31,862,454) |
$ (27,453,954) |
| Depreciation of property, plant and equipment, and investment in leased property |
1,907,940 |
2,069,672 |
2,132,117 |
| Amortization of intangible assets |
2,270,858 |
2,306,489 |
2,322,876 |
| Stock-based compensation |
2,180,869 |
2,001,840 |
1,452,259 |
| Gain on sale of equity interest in joint venture |
(3,234,717) |
0 |
0 |
| Loss on disposal of property, plant and equipment |
65,899 |
51,975 |
308,621 |
| Loss (gain) on sale of leased assets |
0 |
20,068 |
(673,358) |
| Realized loss on available for sale securities |
0 |
0 |
22,421 |
| Change in fair value of common stock warrant liability |
37,101,818 |
(4,845,165) |
(3,447,153) |
| Changes in operating assets and liabilities that provide (use) cash: |
|
|
|
| Accounts receivable |
(2,407,675) |
9,367,539 |
(9,192,901) |
| Inventory |
(1,855,863) |
(1,294,671) |
1,438,195 |
| Prepaid expenses and other current assets |
137,598 |
(94,443) |
(310,089) |
| Note receivable |
60,752 |
(570,697) |
0 |
| Accounts payable, accrued expenses, product warranty reserve and other liabilities |
(2,140,157) |
914,388 |
(1,101,356) |
| Deferred revenue |
1,701,549 |
1,770,463 |
1,192,255 |
| Net cash used in operating activities |
(26,880,811) |
(20,164,996) |
(33,310,067) |
| Proceeds from sale of equity interest in joint venture |
3,234,717 |
0 |
0 |
| Purchase of property, plant and equipment |
(111,032) |
(77,527) |
(1,326,144) |
| Restricted cash |
0 |
0 |
525,000 |
| Proceeds from disposal of property, plant and equipment |
84,250 |
63,605 |
46,650 |
| Proceeds from sale of leased assets |
0 |
0 |
673,358 |
| Proceeds from maturities and sales of available-for-sale securities |
0 |
0 |
10,399,396 |
| Net cash provided by (used in) investing activities |
3,207,935 |
(13,922) |
10,318,260 |
| Change in restricted cash |
(500,000) |
0 |
0 |
| Purchase of treasury stock |
0 |
0 |
(158,492) |
| Proceeds from exercise of warrants |
6,103,096 |
0 |
0 |
| Proceeds from issuance of preferred stock |
2,595,400 |
0 |
0 |
| Preferred stock issuance costs |
(224,320) |
0 |
0 |
| Proceeds from issuance of common stock and warrants |
14,807,718 |
17,192,500 |
22,583,877 |
| Common stock issuance costs |
(1,934,265) |
(1,402,230) |
(1,891,378) |
| Repayment of borrowings under line of credit |
(3,380,835) |
(2,024,275) |
5,405,110 |
| Proceeds from finance obligation |
2,600,000 |
2,105,282 |
0 |
| Principal payments on obligations under capital lease and finance obligation |
(698,674) |
(170,222) |
(9,956) |
| Net cash provided by financing activities |
19,368,120 |
15,701,055 |
25,929,161 |
| Effect of exchange rate changes on cash |
(48,780) |
1,029 |
(35,864) |
| Increase (decrease) in cash and cash equivalents |
(4,353,536) |
(4,476,834) |
2,901,490 |
| Cash and cash equivalents, beginning of year |
9,380,059 |
13,856,893 |
10,955,403 |
| Cash and cash equivalents, end of year |
$ 5,026,523 |
$ 9,380,059 |
$ 13,856,893 |