XML 42 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
3 Months Ended
Sep. 30, 2014
Sep. 30, 2013
OPERATING ACTIVITIES    
Net Loss $ (1,546,163) $ (1,294,687)
Adjustments to reconcile net loss to cash from operating activities:    
Depreciation and amortization 33,072 27,914
Share-based compensation - Common Stock 285,745 167,139
Share-based compensation - warrants 510,662 47,469
Common stock issued for services and rent 63,015 86,771
Common stock issued as incentive with Convertible debt 10,261   
Common stock issued to extend the maturity dates on debt 15,750   
Amortization of debt discount and issuance costs 221,860 113,494
(Gain)/Loss on extinguishment of debt 28,517   
Impairment on long lived assets and intangibles    45,676
Changes in Operating Assets and Liabilities:    
Other receivables 2,615 (3,625)
Other assets (182,770) 75,578
Accounts payable and accrued expenses and deferred revenue 203,226 291,826
Net Cash Used in Operating Activities (354,210) (442,445)
INVESTING ACTIVITIES    
Purchase of property and equipment (39,966) (9,035)
Net Cash Used in Investing Activities (39,966) (9,035)
FINANCING ACTIVITIES    
Common Stock issued for cash, net of offering costs of $9,500 and $15,935, respectively 290,500 276,065
Proceeds from notes payable - related party      
Proceeds from convertible notes payable - related party      
Proceeds from convertible notes payable 362,000 160,000
Repayments of convertible notes payable (8,520) (6,000)
Lease Payable (4,000)   
Net Cash Provided by Financing Activities 639,980 430,065
NET INCREASE (DECREASE) IN CASH 245,804 (21,415)
CASH AT BEGINNING OF PERIOD 77,876 165,258
CASH AT END OF PERIOD 323,680 143,843
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid for interest 918 612
NON CASH FINANCING ACTIVITIES:    
Conversion of Notes and Interest into common stock 585,496   
Common Stock and warrants issued for prepaid services    28,000
Common Stock and warrants issued for interest 362,000 201,265
Warrants and beneficial conversion feature on issuance of convertible debt    $ 126,000