Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating activities:    
Net income (loss) $ (4,012) $ (16,542)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation 56 45
Stock based compensation 719 93
Change in fair value of derivative liabilities (1,273) 14,418
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (29) (72)
Accounts payable and accrued expenses 497 499
Net cash used in operating activities (4,042) (1,559)
Investing activities:    
Purchase of fixed assets (18) (5)
Principal payments received on mortgage notes receivable 19 19
Net cash provided by investing activities 1 14
Financing activities    
Proceeds from issuance of common stock and warrants 5,004 11,812
Proceeds from exercise of stock options 3 20
Net cash provided by financing activities 5,007 11,832
Net increase in cash and cash equivalents 966 10,287
Cash and cash equivalents at beginning of period 9,276 3,970
Cash and cash equivalents at end of period 10,242 14,257
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Unrealized loss on marketable securities net of tax 0 (980)
Estimated fair value of warrants exchanged for common shares 0 9,426
Cashless exercise of warrants $ 35 $ 0