XML 30 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Statements of Cash Flows (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net income $ 194,834 $ 150,746
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation expense 4,041 4,400
Amortization of patents 19,593 19,375
Common stock and options for compensation, consulting and vendor services 88,052 280,610
Accrued interest expense on notes payable   24,419
Bad debt reversal   (55,987)
Loss on Earnings on Medical Joint Venture 130,523  
Loss on Earnings on Education Joint Venture 3,416  
Changes in operating assets and liabilities:    
Decrease (Increase) in accounts receivable 311,481 (246,594)
(Increase) Decrease in inventories (423,294) 13,012
Decrease to advance on contracts 326,197 39,756
(Increase) Decrease to prepaid expenses and other current assets (50,866) 73,119
Decrease in accounts payable (803,233) (306,322)
Increase in customer advances 507,345  
Decrease in accrued expenses (31,121) (80,201)
Net cash provided by (used in) operating activities 276,968 (83,667)
Cash flows from investing activities:    
Investment in Medical Joint Venture (58,703)  
Investment in Education Joint Venture   (50,000)
Purchases of property and equipment (4,616) (856)
Payment for patents rights   (9,122)
Net cash used in investing activities (63,319) (59,978)
Cash flows from financing activities:    
Proceeds from exercise of stock options 38,000  
Proceeds from the sale of common stock   50,000
Proceeds from loan from related party   50,000
Net cash provided by financing activities 38,000 100,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 251,649 (43,645)
Cash and cash equivalents at beginning of period 1,147,198 165,249
Cash and cash equivalents at end of period 1,398,847 121,604
Supplemental disclosure on non cash investing and financing activities:    
Shares issued to employees in lieu of cash compensation 11,875 11,875
Shares to be issued to directors for prepaid directors' fees $ 55,200