Quarterly report pursuant to sections 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Loss $ (3,241,647) $ (597,314)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 43,613 45,735
Stock based compensation 218,544 46,254
Warrant liability (36,728) 0
Amortization of debt discount 20,344 0
Amortization of deferred financing costs 20,640 0
Changes in operating assets and liabilities    
Accounts receivable (287,215) 0
Inventories 258,326 (27,943)
Prepaid Expenses (543,681) (369,217)
Other assets 195,361 0
Accounts payable 320,340 (794,562)
Accrued expenses (70,412) (298,064)
Accrued interest 33,292 1,959
Deferred rent liability (5,548) (5,547)
Net cash used in operating activities (3,074,771) (1,998,699)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (66,074) 0
Net cash used in investing activities (66,074) 0
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock, net of note payable conversion 0 17,287,288
Proceeds from Hercules debt note payable 1,000,000 0
Payment of equity issuance costs (71,514) (933,957)
Payments on notes payable 0 (200,000)
Payments of leasehold improvement loan (2,796) (2,575)
Net cash provided by financing activities 925,690 16,150,756
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (2,215,155) 14,152,057
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 12,535,672 87,771
CASH AND CASH EQUIVALENTS - END OF PERIOD 10,320,517 14,239,828
Cash paid for interest 61,389 3,820
Supplemental Disclosure of Noncash Financing Activities:    
Conversion of notes payable and accrued interest into common stock 0 262,740
Reclassification of equity issuance costs to additional paid-in capital 0 421,077
Accrued equity issuance costs 0 279,394
End of term liability for Hercules note payable $ 26,500 $ 0