XML 35 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Operating activities    
Net income (loss) $ (498,915) $ 173,378
Adjustments to reconcile net income (loss) to net cash (used) by operating activities    
Unrealized (gain) loss on marketable securities (52,070) 15,151
Depreciation 13,878 1,610
Non-cash stock based compensation 146,540 174,384
Changes in current assets and current liabilities    
Accounts receivable 312,918 100,702
Prepaid expenses and other 56,749 (13,183)
Other assets (61,329) 9,000
Accounts payable and accrued expenses (280,348) 116,450
Customer deposits payable (686,226) (2,179,536)
Deferred revenue (3,325) 793
Net cash (used) by operating activities (1,052,128) (1,601,251)
Investing activities    
Purchases of property and equipment (56,733) (20,645)
Purchases of treasury stock (301,255)   
Net cash (used) by investing activities: (357,988) (20,645)
Financing Activities    
Proceeds from debt    479,405
Payments on debt    (639,710)
Net cash (used) by financing activities    (160,305)
Change in cash and cash equivalents (1,410,116) (1,782,201)
Cash and cash equivalents, beginning of period 3,759,791 3,678,688
Cash and cash equivalents, end of period 2,349,675 1,896,487
Non-cash item:    
Settlement of related party receivable with treasury stock $ 702,337