XML 46 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Loss $ (1,017,230) $ (1,045,767)
Adjustments to Reconcile Net loss to Net Cash Used in Operating Activities:    
Depreciation 11,025 12,201
Shares issued for services 74,417 0
Warrants issued as debt conversion issuance fees 482,300 0
Amortization of prepaid expenses paid in common stock 17,956 28,995
(Gain) loss on debt settlement, net 20,689 (112,667)
Compensation expense related to grant of stock options 115,281 85,085
Change in fair value of embedded conversion option liability (235,399) 444,961
Amortization of debt issue costs 406 1,250
Amortization of debt discount 42,011 114,018
Changes in assets and liabilities: (Increase) decrease in:    
Accounts receivable 166,334 252,837
Prepaid expenses and other current assets 15,338 (46,406)
Inventory (80,106) (3,129)
Costs and estimated earnings in excess of billings on uncompleted contracts (39,529) 0
Deposits (2,715) 0
Increase (decrease) in:    
Accounts payable 144,834 (90,551)
Accrued expenses (11,066) 76,655
Accrued rent 0 2,354
Sales tax payable 0 (2,014)
Billings in excess of costs and estimated earnings on uncompleted contracts (163,129) (22,176)
NET CASH USED IN OPERATING ACTIVITIES (458,583) (304,354)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from Sale of Common Stock 927,500 1,843,700
Payments of offering costs related to sale of common stock (24,000) (147,496)
Repayments on convertible notes payable (3,000) (3,067)
Payments of debt issue costs (6,500) 0
NET CASH PROVIDED BY FINANCING ACTIVITIES 894,000 1,693,137
NET INCREASE IN CASH 435,417 1,388,783
CASH AT BEGINNING OF PERIOD 392,098 257,396
CASH AT END OF PERIOD 827,515 1,646,179
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 0 0
Cash paid for income tax 0 0
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Convertible debt converted to shares of common stock 550,000 0
Accrued interest converted to common stock 175,850 0
Warrants issued as debt extension fee 193,625 0
Embedded conversion option based effective interest 478,561 0
Shares of common stock issued for services $ 0 $ 37,500