XML 24 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Loss $ (2,078,745) $ (1,819,970)
Adjustments to Reconcile Net loss to Net Cash Provided by (Used in) Operating Activities:    
Depreciation 33,332 47,934
Warrants issued as debt issuance fees 0 12,274
Common stock issued for services 6,480 6,993
Amortization of prepaid expenses paid in common stock 92,339 27,401
Gain on debt settlement, net (114,167) (28,195)
Compensation expense related to grant of stock options 261,069 623,761
Change in fair value of embedded conversion option liability 32,644 (538,978)
Amortization of debt issue costs 3,750 30,480
Amortization of debt discount 342,055 512,259
Changes in assets and liabilities: (Increase) decrease in:    
Accounts receivable 326,861 1,293,577
Prepaid expenses and other current assets (28,073) (17,841)
Inventory, net 3,800 (9,244)
Costs and estimated earnings in excess of billings on uncompleted contracts 0 (93,405)
Deposits 0 (6,250)
Increase (decrease) in:    
Accounts Payable (17,423) (786,890)
Accounts payable - related party 0 (109,145)
Accrued expenses 124,921 199,895
Accrued rent (806) (5,438)
Sales tax payable (60,000) 0
Billings in excess of costs and estimated earnings on uncompleted contracts (26,838) (98,391)
NET CASH USED IN OPERATING ACTIVITIES (1,098,801) (759,173)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of equipment (40,000) (9,568)
NET CASH USED IN INVESTING ACTIVITIES (40,000) (9,568)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from Sale of Common Stock 1,935,200 1,050,000
Payments of offering costs related to sale of common stock (154,816) (84,000)
Repayments on convertible notes payable (9,067) 0
NET CASH PROVIDED BY FINANCING ACTIVITIES 1,771,317 966,000
NET INCREASE IN CASH 632,516 197,259
CASH AT BEGINNING OF PERIOD 257,396 468,776
CASH AT END OF PERIOD 889,912 666,035
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 0 6,134
Cash paid for income tax 1,600 1,071
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Convertible debt converted to shares of common stock 0 1,000,000
Convertible accrued interest converted to common stock 0 47,836
Common stock issued for debt settlement 28,500 29,000
Shares of common stock issued for prepaid services $ 85,740 $ 0