XML 27 R5.htm IDEA: XBRL DOCUMENT v2.3.0.15
Consolidated Statements of Cash Flows (USD $)
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:  
Net loss$ (1,510,298)$ (976,185)
Adjustments to reconcile net loss to net cash used by operating activities:  
Depreciation and amortization351,548641,548
Stock based compensation201,543204,961
Amortization of note discount 81,464
Loss on equity investment 71,679
Deferred tax benefit (1,141,040)
Change in fair value of derivative liability(360,922) 
(Increase) decrease in assets:  
Accounts receivable773,970889,660
Inventory(315,331)201,010
Prepaid expenses and other assets34,760(17,923)
Increase (decrease) in liabilities:  
Accounts payable(610,130)(424,409)
Accrued expenses and other current liabilities(457,137)140,594
Net cash used by operating activities(1,891,997)(328,641)
Cash flows from investing activities:  
Purchase of equipment and leashold improvements(4,509)(85,400)
Purchase of other intangible assets(24,472)(43,137)
Acquisition of business61,995(2,272,405)
Net cash provided (used) by investing activities33,014(2,400,942)
Cash flows from financing activities:  
Net borrowings on related party revolving line of credit 100,000
Net payments on revolving line of credit(349,911) 
Borrowings on long-term debt 1,500,000
Payments of long-term debt(150,000)(100,000)
Payments of capital lease obligations(55,204)(44,344)
Issuance of common stock, net of issuance costs(160,315)1,134,005
Net cash (used) provided by financing activities(715,430)2,589,661
Net decrease in cash(2,574,413)(139,922)
Cash beginning of period4,086,574448,895
Cash end of period$ 1,512,161$ 308,973