XML 45 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)
9 Months Ended 26 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Statement of Cash Flows [Abstract]      
Net loss $ (3,485,101) $ (1,496,798) $ (6,584,737)
Depreciation 3,360 1,077 5,557
Amortization of debt discounts 153,951 47,306 206,173
Amortization of financing costs 49,500    49,500
Non cash interest 109,115    236,902
Stock based compensation 937,629 53,351 1,511,088
Loss on settlement of debt 829,530    829,530
Loss on debt modification       88,849
Loss from change in fair value of derivative liabilities 387,185 23,191 297,944
Prepaid expenses    9,716   
Advances from stockholders/officers (5,000) (42,000)   
Accounts payable and accrued expenses 255,499 290,508 1,332,104
Net cash used in operating activities (764,332) (1,113,649) (2,027,090)
Net cash acquired from reverse merger       223,586
Purchase of property and equipment    (13,441) (13,441)
Payment of long term deposit       (9,330)
Net cash (used in) provided by investing activities    (13,441) 200,815
Proceeds from issuance of subsidiary's common stock       75
Proceeds from sale of common stock 85,000 859,000 1,089,200
Proceeds from exercise of warrants 230,000    230,000
Proceeds from issuance of notes payable 301,500    301,500
Proceeds from issuance of convertible notes payable 210,000 77,500 320,000
Repayments of convertible notes payable (110,000)    (110,000)
Net cash provided by financing activities 716,500 936,500 1,830,775
Net increase (decrease) in cash (47,832) (190,590) 4,500
Cash, beginning of period 52,332 195,184  
Cash, end of period 4,500 4,594 4,500
Interest paid 98,778    98,778
Income taxes paid         
Non cash investing and financing activities:      
Accrued warrants to be issued referring brokers in connection with PPM subscription at $0.10 per share       29,400
Shares forfeited and cancelled by some Clean Wind Energy's stockholders acquired in connection with the merger upon resignation       12,060
Notes payable issued in settlement of accounts payable $ 268,270    $ 268,270