Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

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Statements of Cash Flows (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net loss $ (12,148,655) $ (9,212,215) $ (10,213,801)
Adjustments to reconcile net loss to net cash used by operating activities:      
Stock-based compensation for services 1,437,865 930,937 1,336,177
Depreciation and amortization 326,534 430,228 490,515
Other noncash charges 47,503 44,554 274,941
Amortization of license fee (84,620) (20,571) (62,179)
Gain on contract termination       (938,896)
Loss on equipment disposals    1,924   
Changes in:      
Accounts receivable (32,194) 35,016 38,160
Prepaid expenses and other current assets 289,967 407,955 426,825
Accounts payable 166,589 32,212 284,543
Accrued expenses 265,677 273,649 210,721
Accrued compensation (303,956) 405,256 (179,948)
Deferred revenue 305,636 1,182,080   
Net cash used in operating activities (9,729,654) (5,488,975) (8,332,942)
Cash flows from investing activities:      
Purchases of short-term investments (24,436,509) (2,991,644) (1,043,192)
Sales of short-term investments 16,956,765 2,831,864 2,972,256
Purchases of property and equipment (26,316) (43,692) (90,100)
Purchases of patent and other assets (125,430) (112,646) (228,163)
Net cash (used in) provided by investing activities (7,631,490) (316,118) 1,610,801
Cash flows from financing activities:      
Repayment of notes payable and other obligations (927,734) (1,331,437) (673,900)
Net proceeds from issuance of common stock 12,969,587 15,146,400 1,456,065
Net cash provided by financing activities 12,041,853 13,814,963 782,165
Net increase (decrease) in cash and cash equivalents (5,319,291) 8,009,870 (5,939,976)
Cash and cash equivalents, at beginning of year 10,977,974 2,968,104 8,908,080
Cash and cash equivalents, at end of year 5,658,683 10,977,974 2,968,104
Supplemental disclosure of cash flow information:      
Cash paid during the year for interest 138,754 244,737 180,915
Schedule of non-cash investing and financing transactions:      
Acquisitions of current assets for installment obligations $ 344,689 $ 480,635 $ 454,830