v2.4.0.6
Statements of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Operating activities    
Net loss $ (4,006,007) $ (12,211,247)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization and depreciation expense 107,410 137,342
Stock-based compensation 1,201,878 1,680,996
Financing fees- issuance of warrants, non-cash 381,394 6,322,709
Stock issued for services and rent…………………………………. 173,677 135,852
Gain arising from debt extinguishment (1,000,000) 0
Changes in operating assets and liabilities:    
Increase in prepaid expenses and other current assets (216,278) (45,561)
Increase in trade accounts receivable (60,052) (13,260)
Increase in inventory (18,483) (473,540)
(Decrease)/ increase in customer deposits (142,520) 159,738
Increase in trade accounts payable and accrued liabilities 272,555 705,160
Net cash used in operating activities (3,306,426) (3,601,811)
Investing Activities    
Acquisition of fixed assets, net of impairments (131,165) (182,081)
Net cash used in investing activities (131,165) (182,081)
Financing activities    
Borrowings on line of credit and long term debt, net of repayments 39,638 1,000,000
Proceeds of issuance of common stock 3,185,000 2,340,000
Net cash provided by financing activities 3,224,638 3,340,000
(Decrease) in cash (212,953) (443,892)
Cash – beginning of period 584,085 1,027,977
Cash – end of period 371,132 584,085
Supplemental Information:    
Income Taxes Paid/(Tax credits received) 175 (162,919)
Interest Paid $ 13,249 $ 7,459