General form of registration statement for all companies including face-amount certificate companies

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
 9 Months Ended 12 Months Ended 93 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Cash flows from operating activities:          
Net loss $ (15,186,393) $ (2,849,861) $ (4,361,165) $ (2,543,390) $ (32,897,657)
Adjustments to reconcile net income to net cash used in operating activities:          
Depreciation and amortization 28,196 25,160 5,622 92,596 1,007,176
Amortization 22,955 23,553 30,609 30,610 168,363
Stock based compensation 10,783,948 8,508 9,877 23,645 1,599,467
Amortization of debt discount 4,592 55,843 60,581 363,858 1,648,452
Gain (loss) on sale of assets (2,426)       1,254 (28,648)
Loss on abandonment of patents     9,340    57,847
Changes in assets and liabilities:          
Deposits and other assets 1,989 (53,922) (54,516) 59,572 (94,220)
Prepaid expenses (50,194) (10,387) (3,197) (8,088) 505
Inventory 28,099          (986,674)
Accrued payroll and payroll related expenses (198,989) 68,892 77,683 671,270 3,650,771
Accounts payable (153,510) (134,399) (29,867) (48,173) 682,319
Accrued interest (101,553) 227,865 450,555 363,768 1,124,530
Fees payable to directors (50,000) (57,372) (64,455) 63,000 468,546
Patent license payable (10,000) (833) (15,833) (6,667) 20,000
Other current liabilities (12,613) 15,702 8,189 (1,242) 12,613
Lease settlement payable    (251,184) (251,184) (221,250)   
Employee settlement           50,000
Net cash used in operating activities (4,918,854) (2,955,988) (4,127,761) (1,159,237) (23,516,610)
Cash flows from investing activities:          
Purchases of property and equipment (1,634) (30,259) (30,259)    (729,163)
Proceeds from sale of property and equipment 2,426       4,014 112,759
Expenses related to patent development (20,419) (22,563) (29,696) (35,155) (650,967)
Net cash used in investing activities (19,627) (52,822) (59,955) (31,141) (1,267,371)
Cash flows from financing activities:          
Proceeds from the issuance of common stock 3,923,798          1,581,275
Proceeds from the issuance of series A preferred stock           6,714,860
Proceeds from the issuance of series B preferred stock           7,259,402
Proceeds from the exercise of stock options           2,663
Proceeds from the issuances of notes payable 2,076,000 5,360,403 5,550,403 1,180,000 13,716,167
Repayment of principal on notes payable (550,408) (1,148,076) (1,148,076) (49,950) (4,267,976)
Net cash provided by financing activities 5,449,390 4,212,327 4,402,327 1,130,050 25,006,391
NET INCREASE IN CASH 510,909 1,203,517 214,611 (60,328) 222,410
Cash at the beginning of the year 222,410 7,799 7,799 68,127   
Cash at the end of the period 733,319 1,211,316 222,410 7,799 222,410
NON-CASH FINANCING AND INVESTING ACTIVITIES:          
Issuance of stock for property and equipment           388,165
Issuance of stock for deposits and other assets           14,885
Conversion of convertible notes payable to series B preferred stock           743,990
Issuance of Series B Preferred stock warrants    140,592    140,592 1,653,044
Conversion of accrued interest into notes payable 11,125,167    467,438      
SUPPLEMENTAL DISCLOSURES:          
Cash paid for interest 188,382 24,743 234,400 4,500 273,786
Cash paid for income taxes