Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.4.0.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Net loss $ (3,893,413) $ (4,781,571)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation 1,652 1,869
Amortization of patents and website 2,025,899 2,598,461
Deferred tax asset (1,934,419) (2,335,116)
Deferred tax liability (76,463) (161,984)
Impairment of intangible assets 373,195  
Stock based compensation 550,436 685,753
Stock issued for services   750,334
Non-cash interest, discount, and financing costs 605,690 613,719
Change in fair value of Clouding earnout 1,342  
Other non-cash adjustments (33,607) 83,148
Changes in operating assets and liabilities    
Accounts receivable (15,275) (546,101)
Bonds posted with courts 359,960  
Prepaid expenses and other current assets 192,352 26,248
Other non-current assets 2,069  
Accounts payable and accrued expenses 1,953,751 1,920,185
Net cash provided by (used in) operating activities 113,169 (1,145,055)
Cash flows from investing activities:    
Purchase of property, equipment and other intangible assets (2,097) (37,147)
Net cash used in investing activities (2,097) (37,147)
Cash flows from financing activities:    
Payment on convertible debt   (5,050,000)
Cash received upon issuance of note payable, net of $400,000 loan fee   19,600,000
Cash received upon exercise of warrant   18,750
Payments of notes payable to vendors (63,840)  
Net cash provided by (used in) financing activities (1,248,440) 5,568,750
Effect of exchange rate changes on cash 2,607 8,852
Net increase (decrease) in cash (1,134,761) 4,395,400
Cash at beginning of period 2,555,151 5,082,569
Cash at end of period 1,420,390 9,477,969
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for: Interest expense 401,159 317,821
Cash paid for: Taxes paid 7,999 8,260
Cash paid for: Loan fees   400,000
Cash invested in 3D Nano 115,000  
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Common stock issued in conjunction with note payable   1,000,000
Warrant issued in conjunction with note payable   318,679
Revenue share liability incurred in conjunction with note payable   1,000,000
Convertible debt warrant repricing 6,425  
Fortress    
Cash flows from financing activities:    
Payment of note payable $ (1,184,600)  
Medtech And Orthophoenix    
Cash flows from financing activities:    
Payment of note payable   (3,000,000)
Orthophoenix LLC    
Cash flows from financing activities:    
Payment of note payable   (3,750,000)
Sarif    
Cash flows from financing activities:    
Payment of note payable   (276,250)
IP Liquidity    
Cash flows from financing activities:    
Payment of note payable   (1,068,750)
Dynamic Advances    
Cash flows from financing activities:    
Payment of note payable   $ (905,000)