XML 65 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (3,012,147) $ (8,257,917)
Adjustments to reconcile loss from continuing operations to net cash used in operating activities:    
Stock based compensation - stock options vested 614,719 1,435,467
Common shares issued for director fees 160,001 200,002
Shares & warrants issued for services 0 61,133
Loss on equity modification 0 4,789,801
Depreciation 330,313 321,979
Change in derivative liability, net of bifurcation (34,383) (497,187)
Changes in operating assets and liabilities:    
Accounts receivable 200,668 (131,568)
Inventory (224,791) (525,561)
Prepaid expenses and other assets 28,218 (2,318)
Note receivable 1,442 (13,637)
Accounts payable and accrued expenses 314,625 (29,409)
CASH USED IN OPERATING ACTIVITIES (1,621,335) (2,649,215)
CASH FLOWS FROM FINANCING ACTIVITES    
Proceeds from exercise of stock options 0 77,734
Proceeds from exercise of warrants 0 2,405,989
Borrowing on short term debt 500,000 0
Borrowing on long term note payable 726,000 0
Principal payments on debt (31,250) 0
CASH PROVIDED BY FINANCING ACTIVITIES 1,194,750 2,483,723
NET (DECREASE) INCREASE IN CASH (426,585) (165,492)
CASH AT BEGINNING OF PERIOD 443,472 644,804
CASH AT THE PERIOD ENDED JUNE 30 16,887 479,312
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for interest 25,023 0
Cashless exercise of warrants 0 16
Cashless exercise of options 0 4
Shares issued for stock payable related to settlement loss 0 1,881,250
Preferred stock conversion 0 2,690,056
Change in derivative liability due to exercise of warrants 0 1,817,360
Change in derivative liability due to conversion of preferred stock 0 2,761,688
Dividends payable declared $ 0 $ 56,144