XML 51 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended 91 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Operating activities      
Net loss $ (1,572,977) $ (1,767,192) $ (9,596,237)
Adjustments to reconcile net income to net cash provided (used) by operating activities      
Depreciation 25,488 25,488 227,670
Change in allowance for uncollectible note receivable       38,867
Amortization of deferred financing costs       59,605
Interest (income) expense on fair value adjustment 354,451 (23,556) 992,739
Loss on extinguishment of debt       381,113
Write-off of uncollectible deposits       20,000
Accrued interest on note receivable       (11,705)
Loss on impairment 1,100    43,900
Amortization of beneficial conversion feature of the notes payable 270,640 106,358 270,638
Common stock issued for services 185,799 1,024,491 3,167,196
Common stock issued for legal services    56,928 122,423
Common stock issued for financing fees       5,000
Decrease (increase) in:      
Prepaid expenses 13,447 13,559 (25,623)
Advances from shareholder    (2,500) (1,015)
Deposits and other receivables       (23,346)
Decrease in advance to shareholder 3,267    3,267
Accounts payable and accrued expenses 33,782 86,162 268,296
Net cash provided (used) by operating activities (685,003) (480,262) (4,057,214)
Cash flows from investing activities:      
Principal payments from notes receivable       (25,000)
Purchase of common stock       (34,100)
Property and equipment acquisitions       (325,000)
Net cash provided (used) by investing activities       (384,100)
Cash flows from financing activities:      
Proceeds from the issuance of common stock 329,496 241,343 2,655,383
Proceeds from the issuance of convertible notes payable 335,505 169,500 1,401,305
Proceeds from the issuance of convertible notes payable, related party 60,505 55,500 260,507
Proceeds from issuance of notes payable       286,500
Proceeds from issuance of notes payable, related parties       8,500
Payments on convertible notes payable    (30,000) (76,000)
Payments on notes payable       (57,500)
Payments on notes payable, related parties    7,500 (1,000)
Proceeds from loans from stockholders       49,675
Payments on loans from stockholders    (7,500) (44,975)
Net cash provided by financing activities 725,506 436,343 4,482,664
Net increase (decrease) in cash 40,772 (43,919) 41,350
Cash - beginning 578 43,919   
Cash - ending 41,350    41,350
Supplemental disclosure of cash flow information:      
Cash paid for interest expense       3,660
Cash paid for income taxes         
Noncash operating and financing activities:      
Due to Organetix, Inc. reclassified to additional paid-in capital       91,500
Common stock issued in connection with a joint venture       9,800
Common stock issued to satisfy debt 7,683    140,870
Common stock issued to satisfy minimum value guaranteed       87,667
Convertible debt and accrued interest converted to common stock 364,932 143,936 1,874,532
Common stock issued in exchange for property and equipment       $ 7,420