Annual report pursuant to section 13 and 15(d)

Consolidated Statements Of Cash Flows

v2.4.0.6
Consolidated Statements Of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Cash Flows from Operating Activities:    
Net loss $ (5,469,070) $ (8,011,470)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 466,354 545,896
Amortization of intangible assets and other assets 287,838 282,250
Amortization of debt discount and debt issuance costs 89,343 158,927
Amortization of deferred rent (80,131) (65,785)
Write down of assets relating to discontinued operations   631,172
Loss (gain) on sale of businesses 51,647 (16,866)
Loss on disposal of property and equipment 3,400 9,114
Debt extinguishment costs   441,741
Increase (decrease) in inventory reserve 624,618 (199,691)
Stock-based compensation 301,037 318,108
Loss due to closure of contract manufacturer 111,126  
Impairment of goodwill 407,369  
Changes in operating assets and liabilities:    
Decrease in trade accounts receivable, net 80,780 647,371
Increase in inventories (99,635) (399,009)
Decrease in prepaid expenses 43,899 51,013
Decrease (increase) in other assets 17,822 (8,238)
Decrease in accounts payable, accrued liabilities and related party payable (195,628) (733,477)
Decrease in accrued compensation and benefits (6,611) (90,322)
Decrease in other liabilities (3,360) (13,597)
Total adjustments 2,099,868 1,558,607
Net cash used in operating activities (3,369,202) (6,452,863)
Cash Flows from Investing Activities:    
Proceeds from sale of businesses, net of transaction costs 1,110,982 1,147,509
Proceeds from sale of property and equipment 7,500 6,600
Purchase of property and equipment (223,883) (313,446)
Acquisition costs of Lumificient Corporation   (100,000)
Patents and trademark costs (139,391) (311,342)
Net cash provided by investing activities 755,208 429,321
Cash Flows from Financing Activities:    
Payments on promissory notes   (3,800,000)
Proceeds from sale of common stock, net of issuance costs   (49,954)
Net proceeds from exercise of employee stock options and warrants 319,750 14,900
Net cash provided by (used in) financing activities 319,750 (3,835,054)
Net decrease in cash and cash equivalents (2,294,244) (9,858,596)
Cash and cash equivalents, beginning of period 5,308,900 15,167,496
Cash and cash equivalents, end of period 3,014,656 5,308,900
Supplemental Disclosure of Cash Flow Information:    
Cash paid during period for interest 24,000 292,267
Non-cash investing activities:    
Note receivable from sale of businesses   $ 1,110,982