XML 32 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
3 Months Ended 85 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2014
Cash Flows from Operating Activities      
Net loss $ (285,950) $ (596,335) $ (10,952,714)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 58,954 56,247 482,243
Amortization of discount 10,586 9,005 451,572
Stock based compensation    90,927 1,302,767
Common stock issued for services    113,292 124,750
Goodwill impairment       2,637,760
Warrants issued for services    210,000 822,150
Warrants issued for settlement       262,700
Gain on re-measurement of derivative liability    (40,750) (40,000)
Changes in operating assets and liabilities:      
Accounts receivable, prepaid expenses and other assets 18,127 85,130 (50,083)
Employee advances    (19,292) (19,292)
Accounts payable and accrued expenses 77,934 26,991 (109,023)
Payable to related parties (117,000) (42,766) 35,812
Cash Used in Operating Activities (237,349) (107,551) (5,051,358)
Cash Flows From Investing Activities      
Purchase of property and equipment (13,591)    (107,641)
Cash acquired in business acquisition       872
Cash Used in Investing Activities (13,591)    (106,769)
Cash Flows from Financing Activities      
Proceeds from issuance of common stock 240,000    5,590,281
Proceeds from notes payable to related parties    75,000 700,000
Payment of line of credit       (50,000)
Payment of note payable to related parties       (271,206)
Purchase of treasury stock       (320,381)
Payment of stock issuance costs       (453,201)
Cash Provided by Financing Activities 240,000 75,000 5,195,493
Net (Decrease) Increase in Cash and Cash Equivalents (10,940) (32,551) 37,366
Cash and Cash Equivalents at Beginning of Period 48,306 45,283   
Cash and Cash Equivalents at End of Period 37,366 12,732 37,366
Supplemental Disclosure of Cash Flow Information      
Cash paid during the period for interest       20,705
Cash paid during the period for income taxes       24,221
Supplemental Schedule of Non-Cash Financing Activities      
Common stock issued for convertible debt       189,261
Common stock issued for services    11,458 124,750
Common stock issued for acquisition of Cornerstone Conservation Group, LLC       3,096,200
Warrants issued in connection with acquisition of Cornerstone Conservation group, LLC       201,000
Purchase of treasury stock with long-term related party payable       242,758
Warrants issued in connection with debt       299,984
Issuance of warrants as part of notes payable to related party of which $88,000 ($16,500 in Q1 2013) was classified as additional paid in capital and $88,000 ($16,500 in Q1 2013) was classified as a derivative liability    33,000 176,000
Warrants issued in connection with derivative liability       48,000
Common stock issued in connection with debt forgiveness and services rendered       $ 250,000