Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Operating activities:    
Net income (loss) $ 1,808 $ (3,093)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 154 178
Stock based compensation 25 43
Fair value of warrant liabilities in excess of proceeds from financing 946   
Change in fair value of derivative liabilities (6,952)   
Loss on return of escrowed shares, net 584   
Realized gain on sale of marketable securities (480)   
Loss on sale of equipment 6   
Interest receivable (16)  
Changes in operating assets and liabilities, net of effects of reverse Merger with Biozone Pharmaceuticals, Inc.:    
Prepaid expenses and other current assets 26 39
Accounts payable and accrued expenses (358) (45)
Net cash used in operating activities (4,257) (2,878)
Investing activities:    
Cash acquired in reverse merger with Biozone Pharmaceuticals, Inc. 589   
Purchase of fixed assets (4) (1)
Long term deposits (3)   
Proceeds from sale of marketable securities 5,400   
Investment in mortgage note receivable (2,626)   
Principal payments received on mortgage notes receivable 8   
Net cash provided by (used in) investing activities 3,364 (1)
Financing activities    
Proceeds from exercise of stock options 115 5
Proceeds from issuance of common stock and warrants 2,750   
Net cash provided by financing activities 2,865 5
Net increase (decrease) in cash and cash equivalents 1,972 (2,874)
Cash and cash equivalents at beginning of period 1,034 4,717
Cash and cash equivalents at end of period 3,006 1,843
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Unrealized gain on marketable securities 2,235   
Assets acquired and liabilities assumed in reverse Merger with Biozone Pharmaceuticals, Inc.    
Prepaid expenses and other current assets 3   
Marketable securities 8,811   
Accounts payable and accrued expenses 410   
Derivative liabilities $ 10,475