XML 30 R6.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net loss $ (851,599) $ (776,536)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6,051 13,740
Bad debt expense 4,137 1,039
Amortization of deferred financing costs 7,758 4,158
Amortization of beneficial conversion option 49,315 0
Stock options compensation 395,000  
Changes in operating assets and liabilities:    
Accounts receivable (134,043) (172,862)
Prepaid expenses and other current assets (6,200) (7,379)
Accounts payable and accrued expenses 193,830 175,027
Other long-term liabilities - related parties 57,925 8,809
Deferred interest expense 18,867 (5,073)
Deferred revenues (75,065) 218,853
Total adjustments 517,575 236,312
Net cash used in operating activities (334,024) (540,224)
Cash flows from investing activities:    
Purchases of property and equipment 0 (3,519)
Net cash used in investing activities 0 (3,519)
Cash flows from financing activities:    
Proceeds from notes payable 0 830,000
Proceeds from notes payable - related parties 360,000 10,000
Repayment of notes payable (96,000) (168,225)
Repayment of notes payable - related parties (15,305) (7,500)
Net cash provided by financing activities 248,695 664,275
Net increase (decrease) in cash (85,329) 120,532
Cash - beginning of period 184,081 260,560
Cash - end of period 98,752 381,092
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest and taxes $ 23,492 $ 50,516