Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash Flows from Operating Activities:      
Net Loss $ (71,290) $ (53,883) $ (20,386)
Reconciliation of net loss to net cash used in operating activities:      
Depreciation and amortization expense 944 26 23
Noncash interest expense 0 167 634
Amortization of debt discount 1,466 314 0
Amortization of product revenue license fee 183 0 0
Amortization of forgivable loans to registered representatives 176 0 0
Amortization of deferred clearing credit (13) 0 0
Stock-based compensation expense 12,128 14,291 5,546
Recovery for doubtful accounts (47) 0 0
Deferred tax benefit (73) 0 0
Issuance of subsidiaries' common shares for license expenses 53 958 0
Common shares issuable for license expenses 1,682 0 0
Financing fees on subsidiaries' Convertible Note, at fair value 1,032 0 0
Change in fair value of investments 1,071 1,675 (942)
Change in fair value of derivative liabilities 1,039 438 0
Change in fair value of subsidiary convertible note 78 0 0
Change in fair value of contingent consideration payable - National 2 0 0
Research and development-licenses acquired, expense 3,785 10,448 0
Asset impairment loss 0 0 722
Increase (decrease) in cash and cash equivalents resulting from changes in operating assets and liabilities:      
Accounts receivable (1,830) 0 0
Receivables from broker-dealers and clearing organizations (4,048) 0 0
Forgivable loans receivable (84) 0 0
Securities owned, at fair value (179) 0 0
Inventory (203) 0 0
Other receivables - related party (1,634) (156) (15)
Prepaid expenses and other current assets (204) (739) (124)
Restricted cash (1) 0 0
Other assets (12) 0 0
Accounts payable and accrued expenses 5,395 5,889 (849)
Securities sold, but not yet purchased, at fair value 298 0 0
Interest payable 61 (1) (81)
Interest payable - related party 66 0 0
End of term fee associated with Hercules Note 0 0 (398)
Other long-term liabilities 4,346 195 (464)
Net cash used in operating activities (45,813) (20,378) (16,334)
Cash Flows from Investing Activities:      
Purchase of marketable securities, at fair value 0 (79,947) (20,002)
Sale of marketable securities 0 99,949 0
Purchase of short- term investment 0 0 (346)
Purchase of long-term investment 0 0 (2,925)
Purchase of research and development licenses (3,785) (10,448) 0
Purchase of property and equipment (6,370) (283) 0
Purchase of license (350) (1,250) 0
Security deposits paid (6) 0 0
Security deposits refund 0 22 0
Net cash acquired in acquisition of National Holdings Corp. 4,626 0 0
Investment in Origo Acquisition Corp. (175) (158) 0
Net cash (used in) provided by investing activities (6,060) 7,885 (23,273)
Cash Flows from Financing Activities:      
Payment of Hercules Note 0 0 (13,654)
Proceeds from exercise of stock options 0 216 596
Proceeds from issuance of common stock under ESPP 189 59 19
Proceeds from issuance of common stock 0 0 3,502
Payment of costs related to the issuance of common stock 0 0 (32)
Proceeds from subsidiary's offering 39,662 57,817 0
Payment of costs related to subsidiary's offering (2,844) (6,321) 0
Proceeds from at-the-market offering 434 0 0
Payment of cost related to at-the-market offering (79) 0 0
Payment of NSC note (6,392) 0 0
Proceeds from NSC note 0 10,000 0
Payment of debt issuance costs associated with NSC Note 0 (855) 0
Proceeds from IDB note 920 0 14,009
Payments of Debt Issuance Costs 0 0 (9)
Proceeds from Opus Credit Facility 7,000 0 0
Transfer of restricted cash (920) 0 (14,586)
Net cash provided by financing activities 41,985 60,916 (10,155)
Net (decrease) increase in cash and cash equivalents (9,888) 48,423 (49,762)
Cash and cash equivalents at beginning of period 98,182 49,759 99,521
Cash and cash equivalents at end of period 88,294 98,182 49,759
Supplemental disclosure of cash flow information:      
Cash paid for interest 349 80 785
Supplemental disclosure of non-cash financing and investing activities:      
Issuance of restricted stock 2 1 4
Issuance of warrant liabilities in conjunction with NSC debt 634 114 0
Beneficial conversion feature related to Opus Credit Facility 2,006 0 0
Acquisition of National Holdings Corp.      
Goodwill (18,645) 0 0
Accounts receivable (4,889) 0 0
Cash deposits with clearing organizations (1,030) 0 0
Receivables from broker-dealers and clearing organizations (1,607) 0 0
Securities owned, at fair value (2,178) 0 0
Prepaid expenses and other current assets (1,985) 0 0
Property and equipment, net (1,132) 0 0
Restricted cash (353) 0 0
Accounts payable and accrued expenses 6,079 0 0
Accrued commissions and payroll payable 14,029 0 0
Deferred clearing and marketing credits 1,007 0 0
Warrants issuable 13,406    
Other current liabilities 707    
Non-controlling interests 17,717 0 0
Net cash acquired in acquisition of National Holdings Corp. 4,626 0 0
Customer Lists [Member]      
Acquisition of National Holdings Corp.      
Intangible assets (13,500)    
Trademarks [Member]      
Acquisition of National Holdings Corp.      
Intangible assets (3,000)    
Helocyte [Member]      
Cash Flows from Financing Activities:      
Proceeds from Convertible Debt 4,409 0 0
Payments of Debt Issuance Costs (535) 0 0
Avenue [Member]      
Cash Flows from Financing Activities:      
Proceeds from Convertible Debt 200 0 0
Payments of Debt Issuance Costs (59) 0 0
Restricted Stock [Member]      
Supplemental disclosure of non-cash financing and investing activities:      
Issuance of warrants in conjunction with NSC debt $ 793 $ 175 $ 0