XML 17 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
3 Months Ended 46 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2014
CASH FLOW FROM OPERATING ACTIVITIES:      
Net Loss $ (482,070) $ (195,827) $ (4,688,521)
Adjustments to reconcile net loss to net cash used in operating activities:      
Amortization of discount on convertible note payable 62,682 103,102 1,627,346
Imputed interest expense 1,537 7,168 175,595
Impairment of investment in joint venture 0 0 330,000
Common stock issued for services and stock compensation 300,000 0 510,000
Changes in operating assets and liabilities:      
Accounts payable and accrued liabilities 27,286 33,015 165,804
Accrued interest payable 12,017 9,040 87,394
NET CASH USED IN OPERATING ACTIVITIES (78,548) (43,502) (1,792,382)
CASH FLOWS FROM INVESTING ACTIVITIES      
Investment in joint venture 0 0 (320,000)
NET CASH USED IN INVESTING ACTIVITIES 0 0 (320,000)
CASH FLOWS FROM FINANCING ACTIVITIES      
Cash received for stock payable 30,000 0 30,000
Proceeds from advances 70,636 53,600 2,108,668
NET CASH PROVIDED BY FINANCING ACTIVITIES 100,636 53,600 2,138,668
NET INCREASE (DECREASE) IN CASH 22,088 10,098 26,286
CASH, at the beginning of the period 4,198 872 0
CASH, at the end of the period 26,286 10,970 26,286
Cash paid during the period for:      
Interest 0 0 0
Taxes 0 0 0
Noncash investing and financing transaction:      
Refinance of advances into convertible notes payable 0 0 2,427,498
Beneficial conversion on convertible note payable 0 0 0
Conversion of convertible notes payable. 60,000 931,683 2,007,885
Common stock issued for services $ 0 $ 0 $ 210,000