Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

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Statements of Cash Flows (Unaudited) (USD $)
 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities:    
Net loss $ (8,545,679) $ (3,932,256)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash services paid in common stock 5,798,001  
Accretion of discount on note payable to shareholder 39,589  
Depreciation and amortization 37,195 40,128
Stock-based compensation expense 257,827 846,192
Changes in operating assets and liabilities:    
Accounts receivable, net 53,222 67,887
Income tax receivable   362,218
Inventory, net 121,770 (233,936)
Prepaid expenses and other current assets 11,042 66,229
Accounts payable and accrued expenses 1,685 96,399
Deferred revenue (67,643) 102,406
Net cash used in operating activities (2,292,991) (2,584,733)
Cash flows from financing activities:    
Borrowings under note payable to shareholder 2,500,000  
Borrowings under convertible secured note payable to shareholder 750,000 2,500,000
Payments on short term notes payable (67,834) (82,268)
Restricted cash (receipts) released, net 69,572 34,898
Net cash provided by financing activities 3,251,738 2,452,630
Net increase (decrease) in cash and cash equivalents 958,747 (132,103)
Cash and cash equivalents at beginning of the period 171,739 132,103
Cash and cash equivalents at end of the period 1,130,486 0
Supplemental disclosure of cash flow information    
Interest paid 1,314 2,950
Non-cash investing and financing activities:    
Borrowing under short term notes payable for prepaid expense 50,037 48,988
Par value of restricted stock granted as stock compensation   20
Conversion of note payable and accrued interest to common stock and warrants 8,737,011  
Discount on note payable to shareholder for warrants issued 483,599  
Fair market value of the 4,392,425 shares of common stock issued to Intrexon Corporation as a technology access fee $ 5,798,001  
Par value of restricted stock forfeited $ 5.0