XML 33 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flows from operating activities:    
Net loss for the period $ (1,307,728) $ (14,266,035)
Adjustments to reconcile net loss to net cash provided for (used in) operating activities:    
Depreciation and amortization 34,739 56,737
Stock-based compensation 6,000 224,069
Warrant-based consulting fees 0 11,719,170
Loss on sale of vehicle 0 5,573
Net change in assets and liabilities:    
(Increase) decrease in contract receivables (1,077) 7,638
(Increase) decrease in prepaid expenses 16,947 32,678
(Increase) decrease in deferred project costs 49,780 (1,079,017)
(Increase) decrease in other current assets 0 (24,638)
(Increase) in other assets (4,999) (480)
Increase (decrease) in accounts payable - trade 35,124 258,089
Increase in accrued liabilities 1,072,414 1,015,588
Net cash (used in) operating activities (98,800) (2,050,628)
Cash flows from investing activities:    
Purtchase of property & equipment, net of dispositions 0 (5,052)
Net cash (used in) investing activites 0 (5,052)
Cash flows from financing activities:    
Borrowings under line of credit 0 500,000
Proceeds from bridge loans from affiliates 40,000 239,400
Proceeds from notes payable 57,500 0
Repayments of bridge loans from affiliates (40,000) 0
Cash received from Nyserda funding 0 480,000
Repayment of debt on installment notes 0 (7,316)
Net cash provided by (used in) financing activities 57,500 1,212,084
Net decrease in cash (41,300) (843,596)
Cash - beginning of period 55,296 896,057
Cash - end of period 13,996 52,461
Supplemental disclosure of cash flow information:    
Cash payments for interest 0 5,101
Deferred project costs included in accounts payable $ 0 $ 360,619