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

Consolidated Statements of Cash Flows

v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
 12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:    
Net income (loss) $ (9,849,964)us-gaap_NetIncomeLoss $ 66,196us-gaap_NetIncomeLoss
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 366,979us-gaap_Depreciation 384,677us-gaap_Depreciation
Stock-based compensation 571,382us-gaap_ShareBasedCompensation  
Warrants issued in Private Placement 664,064us-gaap_AdjustmentOfWarrantsGrantedForServices  
Non-cash interest expense 2,589,025us-gaap_PaidInKindInterest 414,269us-gaap_PaidInKindInterest
Changes in operating assets and liabilities:    
Restricted cash 70,026us-gaap_IncreaseDecreaseInRestrictedCash 114,260us-gaap_IncreaseDecreaseInRestrictedCash
Trade accounts receivable 465,385us-gaap_IncreaseDecreaseInAccountsReceivable (337,483)us-gaap_IncreaseDecreaseInAccountsReceivable
Prepaid expenses (58,239)us-gaap_IncreaseDecreaseInPrepaidExpense 1,049us-gaap_IncreaseDecreaseInPrepaidExpense
Other assets (911,289)us-gaap_IncreaseDecreaseInOtherCurrentAssets 691,681us-gaap_IncreaseDecreaseInOtherCurrentAssets
Trade accounts payable 1,115,987us-gaap_IncreaseDecreaseInAccountsPayableTrade (549,405)us-gaap_IncreaseDecreaseInAccountsPayableTrade
Accrued and other liabilities (136,997)us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities (3,846,904)us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
Income taxes 47,940us-gaap_IncreaseDecreaseInIncomeTaxes (14,822)us-gaap_IncreaseDecreaseInIncomeTaxes
Net cash used in operations (5,065,701)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (3,076,482)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities:    
Purchase of property and equipment (267,406)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (49,471)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Net cash used in investing activities (267,406)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (49,471)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities:    
Issuance of Common Stock, net of issuance costs 11,963,188us-gaap_ProceedsFromIssuanceOfCommonStock  
Issuance of Preferred Stock-series C, net of issuance costs 7,342,077us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock  
Proceeds from convertible stockholder loan 1,210,100us-gaap_ProceedsFromConvertibleDebt 327,210us-gaap_ProceedsFromConvertibleDebt
Repayment of debt (181,515)us-gaap_RepaymentsOfDebt  
Net cash provided by financing activities 20,333,850us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 327,210us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Effect of exchange rate change on cash and cash equivalents (215,914)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations 161,047us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
Net increase in cash and cash equivalents 14,784,829us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (2,637,696)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of year 3,689,382us-gaap_CashAndCashEquivalentsAtCarryingValue 6,327,078us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of year 18,474,211us-gaap_CashAndCashEquivalentsAtCarryingValue 3,689,382us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental cash flow disclosures:    
Cash paid for interest 71,757us-gaap_InterestPaid 79,668us-gaap_InterestPaid
Cash received (paid from) for income taxes 51,651us-gaap_IncomeTaxesPaidNet 17,413us-gaap_IncomeTaxesPaidNet
Noncash investing and Financing Activities:    
Conversion from debt to equity $ 4,380,906us-gaap_DebtConversionConvertedInstrumentAmount1