XML 17 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
3 Months Ended 13 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2014
Cash flows from operating activities      
Net loss $ (268,021) $ (21,035) $ (1,336,331)
Adjustments to reconcile net loss to net cash flows from operating activities:      
Stock based compensation expense 6,782    22,222
Stock based consulting expense 126,833    364,804
Gain on disposal of oil and gas properties    (49,338)   
Loss on disposal of subsidiary       453,581
Changes in operating assets and liabilities:      
Decrease (increase) in receivables (800) 800 3,001
Decrease (increase) in prepaid expenses (32,006) 7,562 (28,191)
(Decrease) increase in accounts payable and accrued expenses 7,635 35,466 27,890
Net cash flows from operating activities (159,577) (26,545) (493,024)
Cash flows from investing activities:      
Proceeds from disposal of oil and gas properties    3,000   
Acquisition of intellectual property       (162,854)
Net cash flows from investing activities    3,000 (162,854)
Cash flows from financing activities:      
Sale of common stock and warrants       1,505,000
Net cash flows from financing activities       1,505,000
Change in cash and cash equivalents (159,577) (23,545) 849,122
Cash and cash equivalents, beginning of period 1,508,843 513,595 500,144
Cash and cash equivalents, end of period 1,349,266 490,050 1,349,266
Supplemental disclosure of cash flow information:      
Non-cash investing and financing activities - Note received on disposal of subsidiary       $ 80,000