XML 64 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
6 Months Ended
Jul. 31, 2013
Jul. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,381,232) $ (3,360,182)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 13,038 9,737
Issuance of shares for services 637,981 102,556
Non-cash stock option expense 1,030,732 82,508
Amortization of financing costs 95,630 40,895
Amortization of debt discount 70,777 326,916
Loss on change in fair value of warrant and derivative liabilites 0 2,790,711
Changes in assets and liabilities:    
Accounts receivable 156,483 (4,137)
Due to officers 0 6,342
Due from affiliates 5,648 (3,296)
Prepaid expenses and advances 39,057 (14,516)
Other assets (10,000) (1,450)
Accounts payable and accrued liabilities 43,542 (40,688)
Net cash used in operating activities (298,344) (64,605)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Property and equipment acquired (11,773) (10,662)
Net cash used in investing activities (11,773) (10,662)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from note payable 0 270,000
Distributions to non-controlling interest shareholder (240,000) (100,000)
Proceeds from issuance of common stock 430,000 0
Proceeds from issuance of convertible notes payable 220,000 0
Debt issuance costs (24,200) 0
Net cash provided by financing activities 385,800 170,000
NET INCREASE IN CASH & CASH EQUIVALENTS 75,683 94,733
CASH & CASH EQUIVALENTS, BEGINNING OF PERIOD 1,176,727 164,361
CASH & CASH EQUIVALENTS, END OF PERIOD 1,252,410 259,094
SUPPLEMENTARY DISCLOSURES OF CASH FLOW INFORMATION    
Interest paid 96,663 15,000
Income Taxes paid 9,404 9,040
Non-Cash Financing Activities    
Shares issuable and issued for deferred financing costs 101,817 25,661
Warrants issued in connection with convertible note issuance 37,320 0
Shares issued for prepaid director services $ 0 $ 47,520