Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 3 Months Ended 113 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Mar. 31, 2012
Net loss $ (2,356,903) $ (965,252) $ (33,837,329)
Adjustments to reconcile net loss to cash used in operating activities:      
Depreciation and amortization 139,771 144,174 2,555,809
Stock-based compensation 417,353 58,462 3,272,226
Intrinsic value of beneficial conversion feature associated with convertible debt     471,765
Issuance of stock for technology and services     89,520
Impairment of intangible assets     19,671
Loss on disposal of fixed assets     36,477
Loss on derivative warrants 28,846   41,004
Changes in:      
Prepaid expenses and other current assets 71,667 (5,458) (167,130)
Accounts payable and accrued liabilities (6,412) 293,383 91,500
Accrued interest   145,802 463,722
Deferred rent 2,987 4,323 127,368
Cash used in operating activities (1,702,691) (324,566) (26,835,397)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Cash acquired in a business combination     905,649
Purchases of fixed assets (15,149)   (5,501,741)
Proceeds from sale of fixed assets     7,000
Purchases of short-term certificates of deposit     (5,500,730)
Proceeds from short-term certificates of deposit     5,500,730
Change in restricted cash     (55,000)
Payment for intangible assets     (19,671)
Cash used in investing activities (15,149)   (4,663,763)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of convertible notes     2,720,985
Proceeds from long-term obligations     1,677,945
Payments on long-term obligations   (49,998) (1,227,944)
Payments on capital lease obligations (544) (508) (5,192)
Proceeds from issuance of common stock and warrants, net of issuance costs     31,874,254
Proceeds from exercise of warrant     250,000
Repurchase of common stock     (31,667)
Cash in lieu of fractional shares in a business combination     (145)
Change in deferred issuance costs     28,500
Cash provided by (used in) financing activities (544) (50,506) 35,286,736
INCREASE (DECREASE) IN CASH AND EQUIVALENTS (1,718,384) (375,072) 3,787,576
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD 5,505,960 673,739  
CASH AND EQUIVALENTS AT END OF PERIOD 3,787,576 298,667 3,787,576
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION      
Interest paid   11,563 208,689
Fair value of derivative warrants reclassified to additional paid-in capital upon cashless exercise 19,754   68,093
Issuance of common stock in connection with the conversion of notes payable and accrued interest     3,184,707
Fair value of assets acquired in exchange for securities in a business combination     78,407
Fair value of liabilities assumed in exchange for securities in a business combination     (439,615)
Goodwill resulting from a business combination     $ 1,675,462