v2.3.0.11
Consolidated Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES    
Net (loss) $ (515,626) $ (976,428)
Adjustments to reconcile net (loss) to net cash (used) by operating activities:    
Officer compensation contributed 30,000 0
Stock issued for services 4,200 140,197
Stock issued for interest 15,368 54,196
Bad debt expense 0 202,688
Depreciation 102 102
Accretion of note discount 6,458 23,208
Asset impairment 0 54,763
Stock based compensation 0 8,726
Loss on sale of marketable securities 12,016 0
Loss on disposition of asset 0 (8,261)
Changes in operating assets and liabilities    
Decrease (increase) in accounts receivable (9,514) 79,874
Decrease (increase) in prepaid expense and other costs 0 7,984
Increase (decreasein related party payable 0 25,000
Increase (decrease) in deferred wages (51,782) 144,253
Increase (decrease) in accounts payable (11,189) (63,491)
Increase (decrease) in accrued interest (449,891) 141,974
Net cash flows (used by) operating activities (969,858) (165,216)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of marketable securities 68,685 0
Investment in property and equipment 0 (24,113)
Net cash flows used in investing activities 68,685 (24,113)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings from related parties 0 61,050
Repayments to related parties 0 (12,650)
Proceeds from notes payable 0 130,800
Repayments of notes payable (386,410) 0
Proceeds from debentures 0 13,000
Net cash flows (used in) provided by financing activities (386,410) 192,200
NET INCREASE (DECREASE) IN CASH (1,287,583) 2,871
CASH - BEGINNING OF PERIOD 1,670,949 2,029
CASH - END OF PERIOD 383,366 4,900
SUPPLEMENTAL CASH FLOW INFORMATION    
Preferred and common stock issued for debt 65,000 275,105
Cash paid for Interest 464,733 600
Cash paid for Income taxes $ 0 $ 0