v2.3.0.15
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
3 Months Ended9 Months Ended24 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES     
Net loss$ (621,271)$ (115,880)$ (1,031,470)$ (203,844)$ (1,444,158)
Adjustments to reconcile net loss to net cash used in operating activities:     
Depreciation and amortization expense32,599 84,2922396,371
Amortization of vested restricted stock  27 49
(Increase) decrease in assets:     
Accounts receivable(35,200) (35,200) (35,200)
Prepaid expenses and other current assets(35,138)387(105,640)(7,752)(116,459)
Increase (decrease) in liabilities:     
Accounts payable22,81791,61923,718169,33039,381
Accounts payable-affiliate48,185(323,100)41,887(22,860)169,260
Accrued expenses(96,921)1,201(49,272)1,2016,508
Deferred revenue33,535 38,750 45,713
Cash provided by/(used in) operating activities(651,394)(345,774)(1,032,908)(63,903)(1,238,535)
CASH FLOWS FROM INVESTING ACTIVITIES     
Cash paid for software development(129,037)(161,646)(204,213)(278,676)(556,730)
Cash paid for purchases of fixed assets(4,862)(1,351)(8,172)(1,374)(12,537)
Cash used in investing activities(133,899)(162,997)(212,385)(280,050)(569,267)
CASH FLOWS FROM FINANCING ACTIVITIES     
Contributed capital received90,08821,979690,09822,979691,118
Proceeds received from notes payable1,500,000475,0001,500,000475,0002,175,000
Cash provided by financing activities1,590,088496,9792,190,098497,9792,866,118
Net increase in cash804,795(11,792)944,805154,0261,058,316
Cash at beginning of the period253,521165,818113,511  
Cash at the end of the period1,058,316154,0261,058,316154,0261,058,316
SUPPLEMENTAL INFORMATION:     
Cash paid for interest0    
Cash paid for taxes0    
Non-cash investing and financing activities:     
Affiliate payable converted to equity  100,000 221,958
Affiliate payable converted to note payable$ 0