XML 39 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED STATEMENTS OF CASH FLOWS (USD $)
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flow from operating activities:    
Net loss $ (3,352,949) $ (3,277,061)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 25,829 141,482
Vested stock options and warrants 369,636 1,378,090
Equity instruments issued for management and consulting 111,917 67,230
Amortization of debt discount 0 92,538
(Gain) loss on valuation of equity-linked instruments (11,468) (88,673)
Changes in assets and liabilities:    
Accounts receivable (52,395) (62,180)
Inventories (238,488) 37,173
Prepaid expense and other assets (88,936) (8,176)
Notes payable to shareholders 0 0
Accounts payable 563,223 (28,993)
Accrued expenses 790,157 (379,465)
Deferred Revenue (64,000) 5,000
Net cash used in operating activities: (1,947,473) (2,123,035)
Cash flow from investing activities:    
Purchase of fixed assets (72,377) (9,826)
Purchase of intangibles (14,782) (48,545)
Net cash used in investing activities (87,159) (58,371)
Cash flow from financing activities:    
Proceeds from long-term and convertible debt 125,000 1,300,000
Principal payments on notes payable (300,000) 0
Issuance of preferred stock 2,055,000 0
Issuance of common stock 92,831 1,005,333
Net cash provided by (used in) financing activities 1,972,831 2,305,333
Net increase (decrease) in cash (61,802) 123,927
Cash at beginning of period 101,953 13,139
Cash at end of period 40,151 137,066
Non cash transactions:    
Debt Conversion, Converted Instrument, Amount 0 415,775
Common stock issued for accrued interest/bonus 694,500 23,394
Common stock issued to satisfy debt 0 178,568
Stock/warrant issued to satisfy accounts payable/Liabilities $ 0 $ 43,521