"Our cash and cash equivalents were $1,842,118 at September 30, 2012, compared with $7,705,773 at December 31, 2011. The decrease of approximately $5.9 million was due primarily to a substantial reduction of sales of common stock and warrants" "......"
"Additionally in October 2012, the Company received approximately $2.0 million in cash due to a private placement of its common stock at a premium to the fair market value of its common stock at the time of the sale. By managing variable cash expenses due to minimal fixed costs, we believe our cash and cash equivalents on hand at September 30, 2012, together with cash proceeds received during October 2012, will be sufficient to meet our current and planned operating needs until well into 2013 without consideration being given to additional cash inflows that might occur from the exercise of existing warrants or future sales of equity securities, although we may, in our sole discretion, direct Lincoln Park Capital Fund, LLC (the "Fund") to purchase up to an additional $29,950,000 of our common stock per an existing agreement with the Fund."
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