XML 38 R5.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash Flows from Operating Activities    
Net loss $ (140,765) $ (415,345)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 62,720 117,683
Amortization of discount 6,387 42,579
Changes in operating assets and liabilities:    
Accounts receivable and prepaid expenses 166,421 $ (69,490)
Employee advances 12,000  
Accounts payable and accrued expenses (71,674) $ 82,761
Payable to related parties (15,900) (92,000)
Cash Provided by (Used in) Operating Activities $ 19,189 (333,812)
Cash Flows From Investing Activities    
Purchase of property and equipment   $ (13,591)
Purchase of intellectual property $ (16,116)  
Cash Used in Investing Activities $ (16,116) $ (13,591)
Cash Flows from Financing Activities    
Proceeds from issuance of common stock   315,000
Payment of stock issuance costs   (7,500)
Cash Provided by Financing Activities   307,500
Net Increase (Decrease) in Cash and Cash Equivalents $ 3,073 (39,903)
Cash and Cash Equivalents at Beginning of Period 4,736 48,306
Cash and Cash Equivalents at End of Period 7,809 $ 8,403
Supplemental Disclosure of Non-Cash Activities    
Note Receivable in connection with IP acquisition 38,000  
Note Payable in connection with IP acquisition $ 58,436