XML 35 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities    
Net loss $ (81,960) $ (159,866)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization expense 28,205 27,590
Gain on disposal of property and equipment 0 0
Stock-based compensation 1,416 0
Changes in operating assets and liabilities:    
Accounts receivable (7,020) 5,774
Prepaid expenses and other current assets (159,521) (209,607)
Cash issued in excess of available funds (20,756) (1,181)
Accounts payable and accrued expenses (37,246) 21,926
Deferred revenue 125,000 200,000
Deferred rent liability (10,945) (10,945)
Accrued interest payable - related party 107,126 106,983
Net cash provided by (used in) operating activities 2,592 (63,178)
Cash flows from investing activities    
Purchase of property and equipment (34,436) (17,938)
Net cash used in investing activities (34,436) (17,938)
Cash flows from financing activities    
Proceeds from related parties 39,707 141,454
Payment on capital lease obligation 53,372 (8,374)
Proceeds from note payable - related parties 41,100 0
Net cash provided by financing activities 68,481 133,080
Net increase in cash 36,637 51,964
Cash - beginning 0 5,500
Cash - ending 36,637 57,464
Supplemental disclosures:    
Interest paid 1,673 1,242
Income taxes paid $ 0 $ 0