v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flows from operating activities:    
Net loss $ (3,233,831) $ (4,523,996)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash compensation    2,661,772
Non cash interest expense    2,859
Depreciation and amortization 43,075 68,663
Provision for loan losses 406,585   
Non controlling interest (16,216) (72,088)
Loss attributable to investment in subsidiary 83,823 411,225
Changes in assets and liabilities, net of acquisitions and the effect of consolidation of equity affiliates    
Accounts receivable (1,041,985) 346
Advances to aggregators (3,758,314)   
Prepaid expenses and other assets 200,096 (8,994)
Accounts payable 96,522 160,278
Accrued expenses 8,173 23,923
Total adjustments (3,978,241) 3,247,984
Net cash used in operating activities (7,212,072) (1,276,012)
Cash flows from investing activities    
Collections from notes receivable 5,531,562   
Cash Advanced to Unified Payments (454,814)   
Capitalized web development and patent costs    (168,738)
Change in fixed assets 3,357 (21,886)
Net cash used in investing activities 5,080,105 (190,624)
Cash flows from financing activities:    
Repayments of short term loans (886,854)   
Change in restricted cash 2,056,821   
Cash paid for share repurchases (472,695)   
Due to related parties (14,381) (46,492)
Contributed capital from non-controlling shareholders    2,140,000
Repayments to related parties (75,000) (75,000)
Net cash provided by financing activities 607,891 2,018,508
Effect of exchange rate changes on cash (26,073) 100
Net (decrease) increase in cash (1,550,149) 551,972
Cash at beginning of period 3,579,737 83,173
Cash at end of period 2,029,588 635,145
Cash paid during the period for:    
Interest 146,711   
Taxes 196,425   
Non-cash investing and financing activities:    
Contributed capital from JV partner    $ 28,972