Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (unaudited)

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Statements of Cash Flows (unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net loss $ (8,496,307) $ (8,192,090)
Adjustments to reconcile net loss to net cash used in operating activities:    
Allowance for doubtful accounts 226,557 85,375
Write-down of inventory 703,220 73,521
Depreciation and amortization 339,493 290,474
Write-off of capitalized patents 268,789 71,109
Write-off of fixed assets 53,445 6,215
Stock-based compensation 833,637 1,135,008
Decrease (increase) in operating assets:    
Accounts receivable (234,980) 337,480
Inventories 214,466 (689,854)
Prepayments and other current assets 159,366 147,061
Increase (decrease) in operating liabilities:    
Accounts payable (59,653) (729,435)
Accrued expenses 67,722 (151,178)
Net cash used in operating activities (5,924,245) (7,616,314)
Cash flows from investing activities:    
Purchase of property and equipment (44,819) (328,930)
Acquisition of intangible assets (220,865) (299,140)
Net cash used in investing activities (265,684) (628,070)
Cash flows from financing activities:    
Net proceeds from issuance of stock 13,657,331 0
Exercise of options and warrants 11,143 35,536
Payment of taxes related to restricted stock vesting (1,574) 0
Net cash provided by financing activities 13,666,900 35,536
Net increase (decrease) in cash and cash equivalents 7,476,971 (8,208,848)
Cash and cash equivalents at beginning of period 4,204,916 15,022,286
Cash and cash equivalents at end of period $ 11,681,887 $ 6,813,438