Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

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Statements of Cash Flows (USD $)
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:    
Net loss $ (3,663,995) $ (8,545,679)
Adjustments to reconcile net loss to net cash used in operating activities:    
Technology access fee paid in common stock   5,798,001
Accretion of discount on notes payable to shareholder   39,589
Depreciation and amortization 42,105 37,195
Stock-based compensation expense 85,822 257,827
Write off of expired inventory (240,005)  
Changes in operating assets and liabilities:    
Accounts receivable, net 20,182 53,222
Inventory, net 61,179 121,770
Prepaid expenses and other current assets 76,472 11,042
Accounts payable and accrued expenses 64,943 1,685
Deferred revenue (27,842) (67,643)
Net cash used in operating activities (3,581,139) (2,292,991)
Cash flows from investing activities:    
Purchase of property and equipment (6,374)  
Net cash used in investing activities (6,374)  
Cash flows from financing activities:    
Borrowings under note payable to shareholder   2,500,000
Borrowings under convertible secured note payable to shareholder   750,000
Payments on short term notes payable (62,702) (67,834)
Net proceeds from issuance of common stock 30,000  
Restricted cash released 61,763 69,572
Net cash provided by financing activities 29,061 3,251,738
Net increase (decrease) in cash and cash equivalents (3,558,452) 958,747
Cash and cash equivalents at beginning of period 9,925,967 171,739
Cash and cash equivalents at end of period 6,367,515 1,130,486
Supplemental disclosure of cash flow information:    
Interest paid 1,793 1,314
Non-cash investing and financing activities:    
Borrowings under short term notes payable for prepaid expense 157,031 50,037
Par value of common stock issued for cashless exercise of warrants 106   
Conversion of convertible note payable and accrued interest to common stock   8,737,011
Discount on note payable to shareholder for warrants   483,559
Fair market value of the 4,492,425 shares of common stock issued to Intrexon Corporation as a technology access fee   $ 5,798,001
Par value of forfeited stock   $ 5