Annual report pursuant to section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Operating Activities:    
Consolidated net income (loss) $ (4,023) $ 69,483
Adjustments to reconcile consolidated net income (loss) to cash used in operating activities:    
Fair value adjustments on convertible notes and warrants (7,559) 11,736
Depreciation and amortization of intangibles 12,648 9,110
Inventory valuation 47 (490)
Gain on derivative instruments (96) (1,049)
Amortization of deferred financing costs 651 1,001
Non-cash compensation 2,278 2,471
Bad debt recovery (218) (184)
Interest on convertible debt paid with stock 3,076  
Gain on bankruptcy exit   (119,408)
Loss on investment in Front Range, held for sale   12,146
Loss on extinguishments of debt   2,159
Bargain purchase of New PE Holdco   (1,566)
Equity earnings on Front Range   928
Changes in operating assets and liabilities:    
Accounts receivable (2,067) (13,789)
Inventories 1,128 (7,462)
Prepaid expenses and other assets (933) (516)
Prepaid inventory (6,524) 477
Accounts payable and accrued expenses (2,358) (1,968)
Net cash used in operating activities (3,950) (36,921)
Investing Activities:    
Additions to property and equipment (2,365) (643)
Investments in New PE Holdco, net of cash acquired (9,117) (19,494)
Proceeds from sale of investment in Front Range   18,500
Net cash impact of deconsolidation of Front Range   (10,486)
Net cash impact of bankruptcy exit   (1,301)
Net cash used in investing activities (11,482) (13,424)
Financing Activities:    
Net proceeds from common stock and warrants 7,364  
Proceeds from convertible notes and warrants   35,000
Principal payments on convertible notes (1,212)  
Payments for debt issuance costs   (2,909)
Proceeds from borrowings under DIP financing   5,173
Net proceeds from other borrowings 9,958 17,522
Principal payments paid on related party borrowings (500) (13,250)
Net cash provided by financing activities 15,610 41,536
Net increase (decrease) in cash and cash equivalents 178 (8,809)
Cash and cash equivalents at beginning of period 8,736 17,545
Cash and cash equivalents at end of period 8,914 8,736
Supplemental Information:    
Interest paid 11,669 9,771
Non-cash financing and investing activities:    
Preferred stock dividends accrued 1,265 2,847
Debt extinguished with issuance of common stock 33,788 19,000
Reclass of warrant liability to equity upon cashless net exercise of warrants $ 1,157