Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

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Statements of Cash Flows (Unaudited) (USD $)
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities:    
Net loss $ (4,565,947) $ (12,989,419)
Adjustments to reconcile net loss to net cash used in operating activities:    
Technology access fee paid in common stock and convertible note payable to shareholder   6,000,000
Depreciation and amortization 20,119 64,042
Loss on sale of property and equipment 203  
Stock issued as compensation to non-employee directors 102,500  
Stock-based compensation expense 188,330 1,624,165
Write off of expired inventory   (240,005)
Changes in operating assets and liabilities:    
Accounts receivable, net 38,125 10,917
Inventory, net 24,523 140,865
Prepaid expenses and other current assets 112,604 151,861
Accounts payable and accrued expenses (305,606) (280,353)
Deferred revenue 6,753 (27,278)
Net cash used in operating activities (4,378,396) (5,545,205)
Cash flows from investing activities:    
Proceeds from sale of property and equipment 424  
Purchase of property and equipment (20,129) (17,649)
Net cash used in investing activities (19,705) (17,649)
Cash flows from financing activities:    
Payments on short-term notes payable (113,486) (96,788)
Net proceeds from issuance of common stock   3,939,800
Restricted cash released   61,763
Net cash (used in) provided by financing activities (113,486) 3,904,775
Net decrease in cash and cash equivalents (4,511,587) (1,658,079)
Cash and cash equivalents at beginning of period 16,276,510 9,925,967
Cash and cash equivalents at end of period 11,764,923 8,267,888
Supplemental disclosure of cash flow information:    
Interest paid 2,997 3,108
Non-cash investing and financing activities:    
Borrowings under short-term notes payable for prepaid expense 158,999 157,031
Par value of common stock issued for cashless exercise of warrants $ 135 $ 106