Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.5.0.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net loss $ (1,987,449) $ (5,802,692)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation for services 368,459 1,019,067
Depreciation and amortization 96,997 194,438
Amortization of license fees (72,524) (72,524)
Other non-cash charges 200,385 4,647
Gain on sale of property and equipment (1,933,335)
Change in (net of BiOptix business acquisition):    
Accounts receivable (602) (59,677)
Prepaid expenses and other current assets 224,246 236,822
Accounts payable (521,600) (225,316)
Accrued compensation (120,775) (430,207)
Accrued expenses (94,869) (80,995)
Net cash (used in) operating activities (3,841,067) (5,216,437)
Cash flows from investing activities:    
Purchases of short-term investments (13,818,949) (21,208,206)
Sales of short-term investments 16,522,853 26,505,093
Proceeds from sale of property and equipment 1,799,143
Purchases of patent and trademark application costs (14,378) (59,914)
Cash acquired in purchase of BiOptix 16,673
Net cash provided by investing activities 4,505,342 5,236,973
Cash flows from financing activities:    
Repayment of notes payable and other obligations (229,238) (330,139)
Net cash (used in) financing activities (229,238) (330,139)
Net change in cash and cash equivalents 435,037 (309,603)
Cash and cash equivalents at beginning of period 2,012,283 3,539,911
Cash and cash equivalents at end of period 2,447,320 3,230,308
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 33,331 74,936
Supplemental disclosure of investing information:    
Liability payoffs upon property sale 2,064,758
Value of Common Shares issued for BiOptix purchase $ 2,577,011