Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

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Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net loss $ (7,403,587) $ (4,900,150)
Adjustments to reconcile net loss to net cash used in operating activities:    
Allowance for doubtful accounts 54,791 0
Write-down of inventory (2,156) 0
Depreciation and amortization 144,834 43,248
Write-off of capitalized software 45,641 0
Write-off of capitalized patents 109,788 0
Stock-based compensation 1,012,825 597,055
Common stock issued for services 0 50,004
Fair value of warrants issued for services 76,410 101,879
Decrease (increase) in operating assets:    
Accounts receivable (403,829) (147,363)
Inventories (348,677) 175,746
Prepayments and other current assets 96,971 88,956
Increase (decrease) in operating liabilities:    
Accounts payable 592,218 (109,717)
Accrued expenses 320,244 280,610
Net cash used in operating activities (5,704,527) (3,819,732)
Cash flows from investing activities:    
Purchase of property and equipment (636,741) (278,318)
Acquisition of intangible assets (402,445) (313,766)
Net cash used in investing activities (1,039,186) (592,084)
Cash flows from financing activities:    
Net proceeds from issuance of common stock 15,924,405 0
Exercise of options and warrants 233,885 4,987
Net cash provided by financing activities 16,158,290 4,987
Net increase (decrease) in cash and cash equivalents 9,414,577 (4,406,829)
Cash and cash equivalents at beginning of period 7,912,011 14,137,097
Cash and cash equivalents at end of period $ 17,326,588 $ 9,730,268