XML 25 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Cash Flows From Operating Activities:    
Net loss $ (1,018,921) $ (2,009,238)
Bad debt    9,075
Depreciation 3,014 2,750
Loss on disposal of computer equipment 1,697   
Gain on settlement of accrued liabilities (47,501)   
Amortization of debt issuance costs 29,500 12,500
Accretion of debt discount 144,954 318,018
Change in fair value of derivative liabilities 1,012,274 (1,278,848)
Share based payments 302,310 700,090
Changes in operating assets and liabilities:    
Accounts receivable 13,657 (44,150)
Prepaid expenses and other long term asset (99,643) (82,204)
Accounts payable and accrued liabilities (105,017) 705,751
Unearned convention revenue 6,837 93,701
Net Cash Provided by (Used In) Operating Activities 243,161 (1,572,555)
Cash Flows from Investing Activities:    
Purchases of property and equipment    (3,991)
Net Cash Used In Investing Activities    (3,991)
Cash Flows from Financing Activities:    
Payment of debt issuance costs    (42,000)
Proceeds from the issuance of convertible preferred stock 1,550,000 575,000
Payment of stock issuance costs (233,236) (30,000)
Proceeds from the issuance of stock and warrants    250,000
Proceeds from issuance of convertible notes and warrants    778,100
Repayment of convertible promissory note (25,000)   
Net proceeds from (repayment to) related party - notes payable    (74,983)
Net Cash Provided By Financing Activities 1,291,764 1,456,117
Net change in cash 1,534,925 (120,429)
Cash at beginning of year 422,135 542,564
Cash at end of year 1,957,060 422,135
Supplemental disclosures of cash flow information:    
Interest paid      
Income tax paid      
Supplemental disclosure of non-cash investing and financing activities:    
Conversion of convertible notes and interest to preferred stock 809,139   
Debt discount recorded on convertible debt accounted for as a derivative liability    462,971
Extinguishment of derivative liability 24,844   
Issuance of common stock to settle accrued liabilites 322,000   
Deemed dividend $ 1,018,921 $ 613,321