v2.4.0.6
Statements of Cash Flows (USD $)
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Operating activities    
Net loss $ (831,394) $ (699,503)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization and depreciation expense 31,535 24,988
Stock-based compensation 153,970 867,397
Financing fees- issuance of warrants, non-cash 36,662 114,887
Stock issued for services and rent 251,854 119,198
Extinguishment of line of credit debt 0 (1,000,000)
Changes in operating assets and liabilities:    
Decrease/(increase) in prepaid expenses and other current assets 19,732 (36,019)
(Increase)/decrease in trade accounts receivable (296,893) 13,260
Decrease/(increase) in inventory 3,897 (87,016)
Increase in customer deposits 35,552 47,914
Increase in deferred revenue 338,549 0
Increase in accrued warranty costs 4,468 26,103
(Decrease) in trade accounts payable and accrued liabilities (20,086) (198,553)
Net cash used in operating activities (272,154) (807,344)
Investing Activities    
Acquisition of fixed assets (11,075) (6,134)
Net cash used in investing activities (11,075) (6,134)
Financing activities    
Proceeds from issuance of common stock 240,000 927,500
Borrowings on line of credit and long term debt, net of repayments (2,861) 0
Net cash provided by financing activities 237,139 927,500
(Decrease)/increase in cash (46,090) 114,022
Cash – beginning of period 371,132 584,085
Cash – end of period 325,042 698,107
Supplemental Information:    
Income Taxes Paid/(Tax credits received) (159,220) 0
Interest Paid $ 720 $ 0