v2.3.0.11
Statements of Cash Flows (USD $)
3 Months Ended 6 Months Ended 53 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Cash flows from operating activities:          
Net loss during the development stage $ (2,410,791) $ (1,126,333) $ (4,273,748) $ (2,019,985) $ (12,666,806)
Adjustments to reconcile net loss from operations to cash used by operations:          
Depreciation 16,180 9,885 27,922 18,846 199,263
Loss on sale of assets   (680)   (8,543) (5,446)
Stock based compensation 866,581 362,971 1,199,361 362,971 2,654,080
Advertising         50,000
Legal fees         87,000
Effects of changes in operating assets and liabilities:          
Accounts receivable 5,594   29,023   (29,019)
Inventory (82,000)   (82,000)   (82,000)
Prepaid expenses and deposits (5,325) (1,355) (5,750) 3,833 (15,605)
Accounts payable (297,536) 57,450 44,764 356,786 511,065
Accounts payable, related parties (44,649) 172,102 (19,842) 211,227 171,893
Customer deposits (25,000) (17,607) (52,393) (17,607) 25,000
Net cash used by operations (1,976,946) (542,207) (3,132,663) (1,075,386) (9,089,683)
Cash flows from investing activities:          
Capital expenditures (86,348) (28,969) (86,348) (28,969) (277,495)
Proceeds on sale of assets   3,900   15,900 32,900
Net cash provided (used) by investing activities (86,348) (25,069) (86,348) (13,069) (244,595)
Cash flows from financing activities:          
Cash overdraft       (2,523)  
Proceeds from notes payable       100,000 160,000
Payments on notes payable         (150,000)
Payments on long-term debt (1,532)   (3,052)   (5,047)
Shareholder advances         43,000
Issuance of common and preferred stock 3,529,651 534,960 4,510,017 1,017,339 10,959,572
Net cash provided by financing activities 3,528,119 534,960 4,506,965 1,114,816 11,007,525
Change in cash and cash equivalents 1,464,825 (32,316) 1,287,954 26,361 1,673,247
Cash and cash equivalents Beginning Balance 208,422 58,677 385,293    
Cash and cash equivalents Ending Balance $ 1,673,247 $ 26,361 $ 1,673,247 $ 26,361 $ 1,673,247