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, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:      
Net loss $ (29,048) $ (1,283) $ (18,926)
Income (loss) from discontinued operations, net of tax (109) (5,181) 6,250
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 10,160 3,830 2,207
Accretion of debt discount related to notes payable   2 66
Losses from investments in investees 2,062 1,589 714
Equity based compensation - employees and non-employees 5,131 6,953 6,519
Provision for (recovery of) bad debts (95) 257 (89)
Provision for (recovery of) inventory obsolescence 2,688 607 (48)
Revenue from receipt of equity (159) (85) (731)
Unrealized gains on derivative instruments (1,340) 39  
Change in fair value of contingent consideration 326    
Deferred income tax benefit (9,958) (19,749) (348)
Changes in assets and liabilities of continuing operations, net of the effects of acquisitions:      
Accounts receivable 763 (1,719) (2,888)
Inventory (5,807) 2,170 (8,156)
Prepaid expenses and other current assets (2,877) 57 270
Other assets (361) 16 13
Accounts payable 1,247 (1,784) 1,498
Foreign currency measurement 86 363  
Accrued expenses 2,361 (21) (3,510)
Cash used in operating activities from continuing operations (25,422) (13,939) (17,159)
Cash provided by (used in) operating activities from discontinued operations 7 (4,561) (1,553)
Net cash used in operating activities (25,415) (18,500) (18,712)
Cash flows from investing activities:      
Investments in investees (3,396) (2,013) (650)
Acquisition of businesses, net of cash (19,092) (28,186) (1,323)
Purchase of marketable securities (25,806) (100,161) (14,997)
Maturities of short-term marketable securities 24,997 100,161 14,997
Capital expenditures (1,472) (1,953) (774)
Cash used in investing activities from continuing operations (24,769) (32,152) (2,747)
Cash provided by (used in) investing activities from discontinued operations   17,316 (33)
Net cash used in investing activities (24,769) (14,836) (2,780)
Cash flows from financing activities:      
Issuance of Common Stock, including related parties, net 104,828 104,828  
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)  
Repayments of line of credit with related party     (12,000)
Proceeds from the exercise of Common Stock options and warrants 2,279 1,244 74
Borrowings on lines of credit 36,506 15,300 15,424
Repayments of lines of credit and capital lease obligations (32,754) (20,127) (6,266)
Net cash provided by (used in) financing activities 6,031 86,917 (2,768)
Effect of exchange rate on cash and cash equivalents (2) (81) (382)
Net (decrease) increase in cash and cash equivalents (44,155) 53,500 (24,642)
Cash and cash equivalents at beginning of year 71,516 18,016 42,658
Cash and cash equivalents at end of year $ 27,361 [1] $ 71,516 $ 18,016
[1] As of December 31, 2012, total assets include $5.6 million and total liabilities include $5.5 million related to SciGen (I.L.) Ltd, ("SciGen"), a consolidated variable interest entity. SciGen's consolidated assets are owned by SciGen and SciGen's consolidated liabilities are those as to which there is no recourse against us. Refer to Note 3.