|
Consolidated Statements of Cash Flows (USD $)
|
3 Months Ended |
9 Months Ended |
12 Months Ended |
|
Apr. 19, 2013
|
Dec. 31, 2013
|
Dec. 31, 2014
|
| Cash flows from operating activities |
|
|
|
| Net loss |
|
$ (13,000,303) |
$ (72,504,902) |
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
| Stock-based compensation |
|
1,876,122 |
2,060,287 |
| Deferred tax (benefit) |
|
(3,087,428) |
(7,859,973) |
| Cash flows from financing activities |
|
|
|
| Proceeds from sale of stock |
|
39,390,600 |
|
| Cash and cash equivalents, beginning of period |
|
|
8,235,566 |
| Cash and cash equivalents, end of period |
|
8,235,566 |
3,076,708 |
| Predecessor |
|
|
|
| Cash flows from operating activities |
|
|
|
| Net loss |
(2,553,556) |
|
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
| Depreciation and amortization |
140,293 |
|
|
| Change in warrant liability |
|
|
|
| Stock-based compensation |
|
|
|
| Loan origination fees |
|
|
|
| Non-cash consulting expense |
|
|
|
| Interest capitalized as debt |
|
|
|
| Deferred tax (benefit) |
(12,294) |
|
|
| Changes in operating assets and liabilities: |
|
|
|
| Accounts receivable |
2,846,332 |
|
|
| Inventory |
(488,722) |
|
|
| Other current assets |
(154,529) |
|
|
| Other assets, net |
12,572 |
|
|
| Accounts payable |
(2,978,808) |
|
|
| Accrued liabilities |
(767,991) |
|
|
| Deferred revenue |
(372,579) |
|
|
| Net cash used in operating activities |
(4,329,282) |
|
|
| Cash flows from investing activities |
|
|
|
| Acquisition of Symon Holdings Corporation |
|
|
|
| Purchases of property and equipment |
(86,470) |
|
|
| Net cash used in investing activities |
(86,470) |
|
|
| Cash flows from financing activities |
|
|
|
| Proceeds from debt |
|
|
|
| Proceeds from sale of stock |
|
|
|
| Repayment of debt |
|
|
|
| Expenses related to sale of stock |
|
|
|
| Net cash provided by financing activities |
|
|
|
| Effect of exchange rate changes on cash |
(121,144) |
|
|
| Net decrease in cash and cash equivalents |
(4,536,896) |
|
|
| Cash and cash equivalents, beginning of period |
10,203,169 |
|
|
| Cash and cash equivalents, end of period |
5,666,273 |
|
|
| Supplemental disclosures of cash flow information: |
|
|
|
| Cash paid during the period for interest |
2,053 |
|
|
| Cash paid during the period for income taxes |
150,000 |
|
|
| Leasehold improvements acquired through landlord allowance |
|
|
|
| Issuance of common stock for warrants |
|
|
|
| Successor [Member] |
|
|
|
| Cash flows from operating activities |
|
|
|
| Net loss |
|
(13,000,303) |
(72,504,902) |
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
| Depreciation and amortization |
|
4,956,622 |
6,805,087 |
| Change in warrant liability |
|
(1,960,211) |
(665,324) |
| Impairment of intangible assets and goodwill |
|
|
51,108,782 |
| Stock-based compensation |
|
1,876,122 |
2,060,287 |
| Non-cash treasury stock |
|
|
(480,000) |
| Loan origination fees |
|
829,324 |
228,644 |
| Non-cash consulting expense |
|
175,250 |
504,750 |
| Non-cash directors’ fees |
|
|
116,464 |
| Interest capitalized as debt |
|
135,000 |
|
| Deferred tax (benefit) |
|
(3,059,732) |
(6,990,895) |
| Changes in operating assets and liabilities: |
|
|
|
| Accounts receivable |
|
(11,226,354) |
7,649,905 |
| Inventory |
|
(1,155,725) |
3,172,337 |
| Other current assets |
|
(650,241) |
1,070,132 |
| Other assets, net |
|
94,802 |
(258,234) |
| Accounts payable |
|
4,618,337 |
(1,863,428) |
| Accrued liabilities |
|
184,623 |
(281,719) |
| Deferred revenue |
|
5,165,359 |
(949,872) |
| Loss on contract |
|
|
3,347,624 |
| Other non-current liabilities |
|
|
(799,728) |
| Net cash used in operating activities |
|
(13,017,127) |
(8,730,090) |
| Cash flows from investing activities |
|
|
|
| Acquisition of Symon Holdings Corporation |
|
(209,079) |
|
| Purchases of property and equipment |
|
(2,643,574) |
(2,293,436) |
| Net cash used in investing activities |
|
(2,852,653) |
(2,293,436) |
| Cash flows from financing activities |
|
|
|
| Proceeds from debt |
|
3,647,863 |
6,000,000 |
| Proceeds from sale of stock |
|
39,390,600 |
|
| Repayment of debt |
|
(29,782,863) |
|
| Expenses related to sale of stock |
|
(274,815) |
|
| Net cash provided by financing activities |
|
12,980,785 |
6,000,000 |
| Effect of exchange rate changes on cash |
|
299,618 |
(135,362) |
| Net decrease in cash and cash equivalents |
|
(2,589,377) |
(5,158,858) |
| Cash and cash equivalents, beginning of period |
|
10,824,943 |
8,235,566 |
| Cash and cash equivalents, end of period |
|
8,235,566 |
3,076,708 |
| Supplemental disclosures of cash flow information: |
|
|
|
| Cash paid during the period for interest |
|
2,081,529 |
1,578,576 |
| Cash paid during the period for income taxes |
|
|
186,509 |
| Leasehold improvements acquired through landlord allowance |
|
|
1,250,200 |
| Issuance of common stock for warrants |
|
|
$ 2,460,491 |