Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.3.0.814
Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Loss $ (7,244,000) $ (7,559,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 354,000 142,000
Amortization of deferred finance costs 0 2,404,000
Stock-based compensation 1,297,000 656,000
Non-cash investment income (16,000) (9,000)
Gain on extinguishment of derivative liability 0 (1,164,000)
Fair value adjustments to warrant and derivative liabilities 0 2,015,000
Changes in assets and liabilities:    
Prepaids and other current assets (10,000) 106,000
Other assets 0 (3,000)
Accounts payable 160,000 54,000
Accrued salaries and payroll related expenses (96,000) (89,000)
Accrued compensation 417,000 141,000
Deferred rent (27,000) 58,000
Net cash used in operating activities (5,165,000) (3,248,000)
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (377,000) (587,000)
Expenditures for patents and domain names (266,000) (82,000)
Purchase of restricted cash investment (100,000) 0
Redemption of investments held-to-maturity 13,000,000 0
Purchase of investments held-to-maturity (9,989,000) (7,980,000)
Net cash provided by (used in) investing activities 2,268,000 (8,649,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from sale of common stock from the IPO 0 18,630,000
Deferred IPO cost 0 (2,388,000)
Proceeds from issuance of warrants 0 1,000
Payment of tax withholdings on net issuance of common stock for compensation (45,000) 0
Net cash provided by (used in) financing activities (45,000) 16,243,000
NET INCREASE (DECREASE) IN CASH (2,942,000) 4,346,000
CASH AND CASH EQUIVALENTS — Beginning of period 5,803,000 3,339,000
CASH AND CASH EQUIVALENTS — End of period 2,861,000 7,685,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest 0 414,000
Taxes Paid 1,000 1,000
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Conversion of senior note 0 7,000,000
Conversion of subordinated note 0 2,400,000
Extinguishment of derivative liability 0 5,526,000
Reclassification warrant liabilities to additional paid-in capital $ 0 $ 3,658,000