Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net loss $ (1,283) $ (18,926) $ (30,113)
Income (loss) from discontinued operations, net of tax (5,181) 6,250 5,722
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 3,830 2,207 564
Write-off of acquired in-process research and development     2,000
Accretion of debt discount related to notes payable 2 66 123
Losses from investments in investees 1,589 714 353
Equity based compensation - employees and non-employees 6,953 6,519 4,174
Provision for (recovery of) bad debts 257 (89) 25
Provision for (recovery of) inventory obsolescence 607 (48) 137
Unrealized gain from warrants 39    
Deferred income tax benefit (19,358)    
Revenue from receipt of equity (85) (731)  
Changes in assets and liabilities of continuing operations, net of the effects of acquisitions:      
Accounts receivable (1,719) (2,888) (740)
Inventory 2,170 (8,156) (636)
Prepaid expenses and other current assets 57 270 432
Other assets 16 13 (58)
Accounts payable (1,784) 1,498 (547)
Foreign Currency Remeasurement 363    
Accrued expenses (412) (3,858) (829)
Cash used in operating activities from continuing operations (13,939) (17,159) (19,393)
Cash used in operating activities from discontinued operations (4,561) (1,553) (4,065)
Net cash used in operating activities (18,500) (18,712) (23,458)
Cash flows from investing activities:      
Investments in investees (2,013) (650) (4,800)
Acquisition of businesses, net of cash (28,186) (1,323) (15,632)
Acquisition of rolapitant     (2,000)
Purchase of marketable securities (100,161) (14,997) (9,997)
Maturities of marketable securities 100,161 14,997 9,997
Capital expenditures (1,953) (774) (122)
Cash used in investing activities from continuing operations (32,152) (2,747) (22,554)
Cash used in investing activities from discontinued operations 17,316 (33) (50)
Net cash used in investing activities (14,836) (2,780) (22,604)
Cash flows from financing activities:      
Issuance of common stock, including related parties, net 104,828   50,990
Purchase of common stock held in treasury (7,832)    
Redemption of Series A preferred stock including related parties (1,792)    
Payment of Series D dividends, including to related parties (4,704)    
Issuance of Series D preferred stock and warrants, including related parties     30,000
Repayments of line of credit with related party   (12,000)  
Proceeds from bridge loan with related party     3,000
Repayment of bridge loan with related party     (3,000)
Proceeds from the exercise of stock options and warrants 1,244 74 718
Borrowings on lines of credit 15,300 15,424 529
Repayments of lines of credit and capital lease obligations (20,127) (6,266) (317)
Net cash provided by (used in) financing activities 86,917 (2,768) 81,920
Effect of exchange rate on cash and cash equivalents (81) (382) 122
Net change in cash and cash equivalents 53,500 (24,642) 35,980
Cash and cash equivalents at beginning of year 18,016 42,658 6,678
Cash and cash equivalents at end of year $ 71,516 $ 18,016 $ 42,658