XML 27 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:    
Net loss $ (693,738) $ (290,348)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation expense 321   
Bad debt expense 16,616   
Stock based compensation 3,600   
Non cash Interest expense 9,600   
Changes in operating assets:    
Accounts receivable 78,484 (58,679)
Inventory (47,637) (85,158)
Prepaid inventory 22,824   
Other prepaid expenses (33,004)   
Employee advances (7,000)   
Accounts payable and accrued expenses 261,443 147,877
Deferred revenue (17,699)   
Deferred compensation 113,626 160,716
Net cash (used in) provided by operating activities (292,564) (125,592)
Cash flows from investing activities    
Purchases of property and equipment (7,858)   
Net cash used in investing activities (7,858)   
Cash flows from financing activities    
Proceeds from sale of common stock 2,000,000   
Advances from related party 329,296 111,807
Proceeds from debenture note payable 200,000   
Payments on revolving line of credit (20,641)   
Net cash provided by financing activities 2,508,655 111,807
Net increase (decrease) in cash and cash equivalents 2,208,233 (13,785)
Cash and cash equivalents at beginning of the period 17,438 56,950
Cash and cash equivalents at end of the period 2,225,671 43,165
Supplementary Cash Flow Information    
Interest 16,000   
Non-cash transactions:    
Debenture note payable paid at closing of financing $ 200,000