XML 25 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Loss $ (2,473,110) $ (2,078,745)
Adjustments to Reconcile Net loss to Net Cash Used in Operating Activities:    
Depreciation 33,854 33,332
Common Stock issued for services 203,502 6,480
Warrants issued as debt conversion inducement fees 482,300 0
Amortization of prepaid expenses paid in common stock 17,956 92,339
(Gain) loss on debt settlement 14,689 (114,167)
Compensation expense related to grant of stock options 343,195 261,069
Change in fair value of embedded conversion option liability (250,447) 32,644
Amortization of debt issue costs 2,844 3,750
Amortization of debt discount 294,080 342,055
Changes in assets and liabilities: (Increase) decrease in:    
Accounts receivable (192,089) 326,861
Prepaid expenses and other current assets (21,157) (28,073)
Inventory, net (200,550) 3,800
Costs and estimated earnings in excess of billings on uncompleted contracts (22,855) 0
Deposits (28,586) 0
Increase (decrease) in:    
Accounts payable 235,912 (17,423)
Accrued expenses (91,322) 124,921
Sales tax payable 1,266 (806)
Deferred revenue 31,122 (60,000)
Billings in excess of costs and estimated earnings on uncompleted contracts (125,236) (26,838)
NET CASH USED IN OPERATING ACTIVITIES (1,744,632) (1,098,801)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment, net (250) (40,000)
NET CASH USED IN INVESTING ACTIVITIES (250) (40,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from Sale of Common Stock 2,038,010 1,935,200
Payments of offering costs related to sale of common stock (64,440) (154,816)
Repayments on convertible notes payable (9,000) (9,067)
Payments of debt issue costs (6,500) 0
NET CASH PROVIDED BY FINANCING ACTIVITIES 1,958,070 1,771,317
NET INCREASE (DECREASE) IN CASH 213,188 632,516
CASH AT BEGINNING OF PERIOD 392,098 257,396
CASH AT END OF PERIOD 605,286 889,912
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 0 0
Cash paid for income tax 1,600 1,600
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 85,740
Common stock issued for debt settlement $ 24,000 $ 28,500