Quarterly report pursuant to sections 13 or 15(d)

Condensed Statements of Cash Flows

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Condensed Statements of Cash Flows (USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net loss $ (1,420,742) $ (1,824,503)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 9,084 5,578
Write-down of inventory 0 5,199
Stock-based compensation 188,574 11,489
Common stock to be issued for services 0 43,333
Amortization of debt discount 0 1,037,386
Fair value of warrants issued for consulting services 33,960 0
Accrued interest - promissory note 0 20,000
Decrease (increase) in operating assets:    
Accounts receivable (87,973) 181,785
Inventories 12,058 2,726
Prepaid expenses (34,498) (11,180)
Increase (decrease) in operating liabilities:    
Accounts payable (216,955) (280,201)
Accrued expenses (985) 36,255
Deferred revenue 0 75,000
Net cash used in operating activities (1,517,477) (697,133)
Cash flows from investing activities:    
Purchase of property and equipment (37,259) (4,304)
Acquisition of patents (137,809) (54,878)
Net cash used in investing activities (175,068) (59,182)
Cash flows from financing activities:    
Exercise of options and warrants (9) 0
Net cash used in financing activities (9) 0
Net decrease in cash and cash equivalents (1,692,554) (756,315)
Cash and cash equivalents at beginning of period 14,137,097 1,972,301
Cash and cash equivalents at end of period $ 12,444,543 $ 1,215,986