Annual report pursuant to Section 13 and 15(d)

Condensed Consolidated Statements of Cash Flows

v3.3.1.900
Condensed Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Loss $ (9,715,000) $ (9,731,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 491,000 220,000
Amortization of deferred finance costs 0 2,404,000
Stock-based compensation 1,611,000 1,087,000
Non-cash investment income (18,000) (20,000)
Gain on extinguishment of derivative liability 0 (1,164,000)
Fair value adjustments to warrant and derivative liabilities 0 2,016,000
Changes in assets and liabilities:    
Prepaids and other current assets (32,000) 78,000
Other assets 0 (3,000)
Accounts payable 295,000 131,000
Accrued expenses (86,000) (18,000)
Accrued compensation 79,000 301,000
Deferred rent (36,000) 86,000
Net cash used in operating activities (7,411,000) (4,613,000)
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (415,000) (1,017,000)
Expenditures for patents and domain names (342,000) (140,000)
Purchase of restricted cash investment (100,000) 0
Redemption of investments held-to-maturity 15,000,000 0
Purchase of investments held-to-maturity (9,989,000) (7,980,000)
Net cash provided by (used in) investing activities 4,154,000 (9,137,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from sale of common stock from the IPO 0 18,630,000
IPO costs 0 (2,388,000)
Proceeds from issuance of warrants 0 1,000
Payment of withholding tax on net exercise of stock-based awards (45,000) (29,000)
Net cash provided by (used in) financing activities (45,000) 16,214,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (3,302,000) 2,464,000
CASH AND CASH EQUIVALENTS — Beginning of year 5,803,000 3,339,000
CASH AND CASH EQUIVALENTS — End of year 2,501,000 5,803,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest 0 414,000
Taxes 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 of warrant liabilities to additional paid-in capital $ 0 $ 3,658,000