Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Cash flows from operating activities:    
Net loss $ (6,779) $ (3,787)
Income from discontinued operations   (53)
Gain on sale of discontinued operations, net of taxes   (687)
Depreciation and amortization 8 2
Stock-based compensation expense 222 30
Change in fair value of warrant liabilities 3,107 1,476
Change in fair value of convertible notes 2,400 2,218
Financing costs associated with convertible notes   530
Non-cash interest expense 66 25
Deferred income taxes   (492)
Change in assets and liabilities:    
Accounts receivable 154  
Inventory (30) (17)
Prepaid expenses and other assets (108) 8
Accounts payable (19) (116)
Deferred revenue 0  
Accrued liabilities 30 (52)
Net cash flows used in operating activities (949) (915)
Cash flows used for investing activities:    
Purchase of property and equipment 0  
Net cash used for investing activities 0  
Cash flows from financing activities:    
Net proceeds from issuance of convertible notes and warrants   3,605
Net cash provided by financing activities   3,605
Discontinued operations:    
Net cash provided by operating activities   228
Net cash provided by investing activities   1,000
Net cash provided by discontinued operations   1,228
Effect of exchange rate changes on cash and cash equivalents (35) 16
Net increase (decrease) in cash and cash equivalents (984) 3,934
Cash and cash equivalents at beginning of period 2,585 1,324
Cash and cash equivalents at end of period 1,601 5,258
Supplemental disclosure of cash flow information:    
Cash paid for interest 50 22
Supplemental disclosure of noncash investing and financing activities:    
Warrant liabilities 4,000 792
Convertible notes   $ 3,208