XML 50 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Condensed Consolidated Statements of Cash Flows    
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES $ (435,322) $ 50,513
Cash Flows From Investing Activities    
Purchases of property and equipment 31,050 4,628
Proceeds from sale of Property and Equipment 157,452 0
Increases in (decreases to) restricted cash 83,551 (142,641)
Collections on note receivable (894) (395)
Net cash provided by investing activities 43,745 138,408
Cash Flows From Financing Activities    
Net repayments on line of credit (111,733) (195,400)
Borrowngs under long-term debt 101,175 41,835
Private placements of stock 367,430 0
Borrowings from related party 50,000 0
Principal payments on long-term obligations (121,442) (167,393)
Proceeds from stock warrants exercised 121,952 123,878
Net cash provided by (used in) financing activities 407,382 (197,080)
Net Increase (Decrease) in Cash and Cash Equivalents 15,805 (8,159)
Cash and Cash Equivalents - Beginning 14,344 52,625
Cash and Cash Equivalents - Ending 30,149 44,466
Supplemental disclosure of cash flows information:    
Cash paid during the nine months ended for interest 69,725 77,932
Non-cash investing and financing activities:    
During the nine months ended September 30, 2014, the Company issued common stock with a fair value of $460,700 as part of a consulting contract. 460,700 0
During the nine months ended September 30, 2014, the Company entered into a capitalized lease with a net present value of $420,346 420,346 0
During the nine months ended September 30, 2014, the Company issued common stock with a fair value of $55,000 as conversions of debt to equity. 55,000 0
During the nine months ended September 30, 2014, the Company recorded an account receivable of $25,000 for the sale of a fixed asset. 25,000 0
During the nine months ended September 30, 2013, the Company issued common stock with a fair value of $561,500 as part of three consulting contracts. 0 561,500
During the nine months ended September 30, 2013, the Company issued common stock with a fair value of $25,000 as part of a conversion of debt to equity. $ 0 $ 25,000