v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 12 Months Ended 29 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Cash Flows from Operating Activities      
Net loss $ (1,220,202) $ (1,699,466) $ (3,975,392)
Adjustments to reconcile net income to net cash used in operating activities:      
Amortization of deferred debt discount 150,716 0 150,716
Stock-based compensation 5,626 133,295 138,920
Change in fair value of derivative liabilities 80,394 66,501 146,895
Changes in operating assets and liabilities:      
Deposits 0 (1,950) (3,125)
Prepaid expenses 40,953 (87,041) (56,588)
Accounts payable and accrued expenses 168,107 64,127 254,287
Total Adjustments 445,796 174,932 631,105
Net Cash Used in Operating Activities (774,406) (1,524,534) (3,344,287)
Net Cash From Investing Activities 0 0 0
Cash Provided by Financing Activities      
Proceeds from issuance of convertible debentures 885,000 0 1,885,000
Proceeds from sale of convertible preferred stock, net of costs 0 514,103 1,714,104
Fees paid to third-parties in connection with sale of convertible preferred stock 0 0 (111,775)
Proceeds from issuance of founders' common stock 0 0 10,300
Proceeds from sale of common stock 0 0 200
Net Cash Provided by Financing Activities 885,000 514,103 3,497,829
Net (Decrease) Increase in Cash 110,594 (1,010,431) 153,542
Cash - Beginning 42,948 1,053,379 0
Cash - Ending 153,542 42,948 153,542
Non-Cash Investing and Financing Activities:      
Conversion of convertible debentures into convertible preferred stock 0 0 1,000,000
Warrants issued in connection with convertible preferred stock 0 83,673 663,673
Conversion of accrued dividends into common stock 9,728 0 9,728
Warrants issued in connection with convertible notes payable 477,050 0 477,050
Fair value of conversion option issued in connection with convertible note payable 7,875 0 7,875
Dividends accrued on convertible preferred stock 250,806 191,199 449,238
Settlement of share issuance liability 5,800 0 5,800
Shares issued relating to merger recapitalization 0 0 4,000
Shares issued related to acquisition of intangible asset $ 0 $ 0 $ 1,650