v2.4.0.8
Consolidated Statements of Cash Flow (Unaudited) (USD $)
 3 Months Ended 6 Months Ended 88 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Cash flows from operating activities:          
Net loss during the development stage $ (1,965,932) $ (2,162,404) $ (3,173,035) $ (3,746,111) $ (30,654,847)
Adjustments to reconcile net loss from operations          
Depreciation 101,492 101,493 202,986 116,664 815,642
Loss on sale of assets             27,544
Stock based compensation 556,147 810,411 751,114 1,140,527 5,939,947
Interest expense on convertible debentures       13,269    172,228
Amortized discount on convertible debentures             91,493
Legal, consulting and investment services 134,250 260,075 554,784 602,575 2,571,112
Capitalization of accrued interests       225,000    225,000
Effects of changes in operating assets and liabilities:          
Inventory          48,252 7,250
Prepaid expenses and deposits    (16,812) (4,269) (44,776) (48,236)
Accounts payable 156,596 206,574 (142,901) 43,891 1,917,122
Accounts payable, related parties (143,363) 32,221 (144,079) 14,794 271,291
Customer deposits (177,500) 210,000 (177,500) 320,000   
Net cash used by operations (1,338,310) (558,442) (1,894,631) (1,504,184) (18,664,454)
Cash flows from investing activities:          
Cash paid in acquisition of Workhorse Custom Chasis, LLC          (2,750,000) (2,750,000)
Capital expenditures          (63) (376,713)
Proceeds on sale of assets             38,900
Net cash used by investing activities          (2,750,063) (3,087,813)
Cash flows from financing activities:          
Proceeds from debentures             1,939,250
Proceeds from notes payable          100,000 160,000
Payments on notes payable             (150,000)
Proceeds from long-term debt             50,000
Payments on long-term debt (169,464) (23,850) (320,212) (40,989) (551,096)
Conversion of note payable               
Shareholder advances, net of repayments (4,135,120)    (1,928,300)    6,000
Issuance of common and preferred stock 4,742,300 616,761 5,942,300 4,301,761 22,104,289
Net cash provided by financing activities 437,716 592,911 3,693,788 4,360,772 23,558,443
Change in cash and cash equivalents (900,594) 34,469 1,799,157 106,525 1,806,176
Cash at the beginning of the period 2,706,770 111,875 7,019 39,819   
Cash at the end of the period $ 1,806,176 $ 146,344 $ 1,806,176 $ 146,344 $ 1,806,176