cash flow

Consolidated Statement of Cash Flow Data                            
                             
  2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997
Cash used in operating activities:                            
Net loss ($ 4,122,817) ($ 3,346,251) ($20,549,214) ($19,951,551) ($18,785,273) ($17,562,462) ($14,498,038) ($19,594,798) ($43,467,405) ($48,701,057) ($47,655,893) ($28,052,573) ($16,586,027) ($18,012,635)
                             
Adjustments to reconcile net loss to net cash used in operating activities:                            
Write-off of goodwill 2,284,570  769,886 
Depreciation and amortization 404,795  259,210  395,253  355,884  663,033  841,729  854,629  1,241,035  2,000,705  4,251,956  3,167,138  767,994  487,155  609,661 
Reserve for note from affiliate
Provision for loss on officer note receivable (999,518) 999,518 
Accretion of assured incremental yield on convertible debt 119,000 
Common stock issued in connection with License Agreement
Realized Gain on marketable securities (80,971) (4,330,248) (234,759) (542,457)
Net losses realized on GlobalWave investment 2,332,159  3,406,491 
Common stock issued for services renedered and additional interest on borrowings 108,333  150,320  648,488  305,496 
Warrants issued as compensation for service 80,609  43,176  143,500  1,075,240  1,552,235  5,411 
Issuance of warrants to Aladdin 2,939,000 
Accrued interest on note payable 15,388  39,707  56,624 
In Process research and development [indigo] 2,176,000 
Write off of impaired assets  447,128  301,366  1,571,031  1,761,917 
Loss on Other than Temporary Decline in Marketable Equity Securities [SSP] 11,513,099  1,736,682 
Gain on termination of development contract with SSP (1,818,000)
Gain on decrease in value of warrant liability (2,794) (490,334) (498,723) (263,097)
Preferred stock issued for services rendered
Compensation associated with issuance of stock options 1,724,874  2,813,816  2,105,941  1,969,271  1,556,042  7,294  146,389  367,247  552,554  318,609  234,723 
Total adjustments to reconcile net loss to cash used in operating activities 3,218,611  1,984,084  2,948,322  2,325,155  2,216,281  277,718  (3,592,367) (66,774) 14,777,100  12,919,838  8,634,114  2,008,942  2,962,308  4,805,078 
                             
Changes in assets and liabilities:                            
(Decrease) increase in deferred revenue 6,303,168  2,016,817  1,195,019  (115,034) (99,571) 152,440  276,968  74,222  (197,965) 197,965  (1,250,000) 1,250,000 
Increase in accrued interest on note receivable             142,540  (62,129) (80,410) 105,985  (4,818) (12,318) (17,319)
Increase (decrease) in inventorires   1,112,818  (530,906) 43,236  (193,462) (431,686)
(Increase) Decrease in accounts receivable (7,744,529) (2,148,191) (536,444) (529,533) (301,193) (236,018) 9,633  368,844  50,219  92,478  (194,834) (424,358) (67,500) 70,358 
(Increase) Decrease in prepaid expenses (111,866) 20,624  111,375  (132,507) (67,149) 34,230  (76,718)
(Increase) Decrease in other assets 18,842  6,664  (3,388) (5,315) 63,973  23,935  93,570  50,688  1,026,365  (112,278) (870,604) (243,833) (37,241) 129,141 
Increase (Decrease) in accounts payable and accrued expenses (42,079) (3,214,177) 4,402,514  217,971  (53,801) 189,086  63,540  (567,853) (655,264) (2,638,780) 26,365  3,345,840  1,695,479  600,095 
Increase in amounts due to charities (243,197) (19,959) (159,897) 423,053 
Increase in cash restricted on behalf of charities 211,717  23,836  122,978  (358,531)
Net cash used in operating activities (2,480,670) (4,680,430) (12,431,816) (18,190,814) (17,026,733) (17,121,071) (17,754,892) (18,476,436) (29,096,904) (38,214,486) (40,148,329) (25,052,486) (10,795,299) (12,425,282)
                             
Cash flows from investing activities:                                   
Acquisition of property and equipment (528,138) (88,007) (232,512) (618,672) (328,604) (160,829) (304,172) (985,146) (1,148,723) (1,507,598) (3,829,300) (2,106,639) (590,619) (644,671)
Investment in GlobalWave joint venture (1,559,250) (4,142,000)
Cash received in GlobalWave acquisition 1,380,464 
Purchase of intangible assets (1,100,000) (750,000) (1,750,000)
Short-term loans to affilitate
Organizational costs
Proceeds provided by sales of marketable equity securities 336,309  6,759,751  430,934  2,162,457 
Exercise of warrant to acquire marketable secuirties-available for sale (1,620,000)
Net cash provided by (used in) investing activities (1,628,138) (88,007) (232,512) (618,672) (328,604) 175,480  6,455,579  (554,212) (1,327,509) (1,507,598) (6,558,843) (5,476,639) (590,619) (644,671)
                             
Cash flows from financing activities:                            
Payments on capital lease obligation (61,857) (63,537) (26,898)                      
Net proceeds from issuance of common stock   5,494,780  7,011,013  14,229,331  22,428,249  10,622,054  8,286,920  11,924,486  44,099  754,953  121,072,842  30,874,435  10,644,264  11,860,970 
Proceeds from employee options under stock plans 601,807  260,285  229,428  328,432  287,834  354,047 
Proceeds from employee option exercises 1,284,629 
Proceeds from the exercise of warrants 3,979,291  102,800  600,000  2,169,600 
Cash paid in lieu of fractional shares in reverse stock split (54) (241) (774)
Net proceeds from issuance of preferred stock and warrants 2,688,372  4,780,540  2,777,500  3,555,500 
Payment on (issuance of) note receivable from stockholder 1,135,320  164,319  (1,299,640) 48,175  75,000  50,000 
Payment of dividends on preferred stock (77,440) (212,517)
Proceeds from notes payable and warrants to stockholders 2,000,000 
Repayments of notes payable to stockholders
Proceeds from notes payable and warrants
Repayment of note payable
Redemption of Preferred Stock (506,440)
Net cash provided by financing activities 5,803,870  5,716,888  9,,901,861  14,557,522  23,315,309  13,145,701  8,286,920  17,627,829  208,418  (544,687) 121,121,017  32,367,995  13,496,764  15,466,470 
                             
Net (decrease) increase in cash and cash equivalents 1,695,062  948,451  (2,762,467) (4,251,964) 5,959,972  (3,799,890) (3,012,393) (1,402,819) (30,215,995) (40,266,771) 74,413,845  1,838,870  2,110,846  2,396,517 
                             
Cash and cash equivalents at beginning of year 1,900,014  951,563  3,714,030  7,965,994  2,006,022  5,805,912  8,818,305  10,221,124  40,437,119  80,703,890  6,290,045  4,451,175  2,340,329  4,196,758 
                           


Tue May 31, 2011