XML 26 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Statements of Cash Flows (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,056,022) $ (987,798)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 11,234 14,215
Equity-based compensation 8,708 25,936
Changes in assets and liabilities:    
Accounts receivable (53,120) 8,931
Contracts receivable (18,800)   
Prepaid expenses (10,113) 59,031
Other assets (1,038) 5,000
Accounts payable 86,598 266,805
Deferred revenue 62,708 (6,135)
Accrued and other expenses 177,642 (604,730)
Net cash used in operating activities (792,203) (1,218,745)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (12,281) (2,480)
Purchase of software license (75,000)   
Capitalized patent development costs (5,886)   
Capitalized software (250,481)   
Net cash provided by (used in) investing activities (343,648) (2,480)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Restricted cash used to pay IDB interest expense 50,580 27,556
Deposit of cash to IDB restricted account (31,247)   
Proceeds from debt borrowings 1,075,000 575,000
Repayments of debt borrowings (16,756) (16,257)
Net cash provided by financing activities 1,077,577 586,299
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (58,274) (634,926)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 165,139 860,211
CASH AND CASH EQUIVALENTS, END OF PERIOD 106,865 225,285
Supplemental disclosures of cash flow information:    
Cash paid during the period for: Interest $ 364,296 $ 294,332