v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Loss $ (2,014,866) $ (8,934)
Services contributed by officers and shareholders    500
Depreciation and amortization 166,083 171
Common shares issued for services 231,395   
Stock options issued for services 893,928   
Amortization of debt discounts on convertible notes 109,754   
Changes in operating assets and liabilities:    
Accounts receivable 154,513   
Prepaid expenses 23 (410)
Due from related parties (38,168)   
Accounts payable and accrued expenses 298,118 1,154
Deferred revenue (83,748)   
Net Cash Used in Operating Activities (282,968) (7,519)
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash acquired in acquisition of subsidiary 12,830   
Net Cash Used in Investing Activities 12,830   
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayments on notes payable - related parties (75,000)   
Repayments on notes payable (19,918)   
Proceeds from sale of preferred stock 5,108   
Proceeds from stock subscription payable 200,000   
Net Cash Provided by Financing Activities 110,190   
NET INCREASE IN CASH (159,948) (7,519)
CASH AT BEGINNING OF YEAR 181,725 18,068
CASH AT END OF YEAR 21,777 10,549
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest 5,338   
Income taxes      
NON-CASH FINANCING ACTIVITIES    
Notes payable and warrants issued for acquisition of subsidiary 713,150   
Common stock issued for prepaid services 80,338   
Issuance of common stock on debenture conversion 100,000   
Common stock issued for stock subscriptions payable $ 186,000