Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS

v2.4.1.9
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (USD $)
 12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,612,540)us-gaap_NetIncomeLoss $ (4,084,427)us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 65,714us-gaap_DepreciationDepletionAndAmortization 79,563us-gaap_DepreciationDepletionAndAmortization
Accretion of non-cash interest and amortization of debt issue costs 1,310,351us-gaap_AmortizationOfDebtDiscountPremium 708,729us-gaap_AmortizationOfDebtDiscountPremium
Stock-based compensation expense 101,125us-gaap_ShareBasedCompensation 136,796us-gaap_ShareBasedCompensation
Amortization of third party fees paid in restricted common stock 307,013pbio_AmortizationOfThirdPartyFeesPaidInRestrictedCommonStock 480,492pbio_AmortizationOfThirdPartyFeesPaidInRestrictedCommonStock
Amortization of board of director fees paid in preferred stock 84,750pbio_AmortizationOfBoardOfDirectorFeesPaidInPreferredStock 0pbio_AmortizationOfBoardOfDirectorFeesPaidInPreferredStock
Change in fair value of warrant derivative liability (198,493)us-gaap_DerivativeGainLossOnDerivativeNet (113,713)us-gaap_DerivativeGainLossOnDerivativeNet
Changes in operating assets and liabilities:    
Accounts receivable (124,387)us-gaap_IncreaseDecreaseInAccountsReceivable 68,630us-gaap_IncreaseDecreaseInAccountsReceivable
Inventories (113,876)us-gaap_IncreaseDecreaseInInventories 186,686us-gaap_IncreaseDecreaseInInventories
Accounts payable (66,991)us-gaap_IncreaseDecreaseInAccountsPayableTrade (97,074)us-gaap_IncreaseDecreaseInAccountsPayableTrade
Accrued employee compensation 8,014us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities 29,995us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities
Deferred revenue and other accrued expenses 47,373us-gaap_IncreaseDecreaseInOtherOperatingLiabilities 257,387us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Prepaid expenses and other current assets (18,631)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets 4,333us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Net cash used in operating activities (3,210,578)us-gaap_NetCashProvidedByUsedInOperatingActivities (2,342,603)us-gaap_NetCashProvidedByUsedInOperatingActivities
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (7,139)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (58,749)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Net cash used in investing activities (7,139)us-gaap_NetCashProvidedByUsedInInvestingActivities (58,749)us-gaap_NetCashProvidedByUsedInInvestingActivities
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on convertible debt, net of issuance costs 1,126,744us-gaap_ProceedsFromConvertibleDebt 1,374,297us-gaap_ProceedsFromConvertibleDebt
Borrowings on related party and other debt, net of issuance costs 302,252us-gaap_ProceedsFromRelatedPartyDebt 222,000us-gaap_ProceedsFromRelatedPartyDebt
Repayment of related party and other debt (416,691)us-gaap_RepaymentsOfRelatedPartyDebt (180,304)us-gaap_RepaymentsOfRelatedPartyDebt
Repayment of convertible debt (303,100)us-gaap_RepaymentsOfConvertibleDebt (350,000)us-gaap_RepaymentsOfConvertibleDebt
Payment of dividends 0us-gaap_PaymentsOfDividends (60,000)us-gaap_PaymentsOfDividends
Net proceeds from the exercise of common stock warrants 149,165us-gaap_ProceedsFromIssuanceOfCommonStock 0us-gaap_ProceedsFromIssuanceOfCommonStock
Net proceeds from warrant reset transaction 862,518pbio_NetProceedsFromWarrantResetTransaction 0pbio_NetProceedsFromWarrantResetTransaction
Net proceeds from the issuance of preferred stock 1,939,360us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock 1,425,315us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
Net cash provided by financing activities 3,660,248us-gaap_NetCashProvidedByUsedInFinancingActivities 2,431,308us-gaap_NetCashProvidedByUsedInFinancingActivities
Change in cash and cash equivalents 442,531us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 29,956us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of period 31,417us-gaap_CashAndCashEquivalentsAtCarryingValue 1,461us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents, end of period 473,948us-gaap_CashAndCashEquivalentsAtCarryingValue 31,417us-gaap_CashAndCashEquivalentsAtCarryingValue
SUPPLEMENTAL INFORMATION:    
Interest paid in cash 14,832us-gaap_InterestPaid 0us-gaap_InterestPaid
Convertible debt exchanged for common stock 136,500pbio_ConvertibleDebtExchangedForSeriesJConvertiblePreferredStock 0pbio_ConvertibleDebtExchangedForSeriesJConvertiblePreferredStock
Preferred dividends paid with common stock 82,916pbio_PreferredDividendsPaidWithCommonStock 0pbio_PreferredDividendsPaidWithCommonStock
Convertible debt and accrued interest exchanged for preferred stock 300,000pbio_ConvertibleDebtAndAccruedInterestExchangedForPreferredStock 1,503,530pbio_ConvertibleDebtAndAccruedInterestExchangedForPreferredStock
Incremental value from warrant modifications 163,654pbio_IncrementalValueFromWarrantModifications 0pbio_IncrementalValueFromWarrantModifications
Fair value of common stock issued for services 214,192pbio_FairValueOfCommonStockIssuedForServices 467,964pbio_FairValueOfCommonStockIssuedForServices
Issuance of preferred stock for board fees 84,750pbio_IssuanceOfPreferredStockForBoardFees 38,126pbio_IssuanceOfPreferredStockForBoardFees
Beneficial conversion feature on convertible preferred stock 1,495,415pbio_BeneficialConversionFeatureOnConvertiblePreferredStock 1,002,602pbio_BeneficialConversionFeatureOnConvertiblePreferredStock
Dividends earned on preferred stock $ 143,771pbio_DividendEarnedOnPreferredStock $ 160,420pbio_DividendEarnedOnPreferredStock