• Filing Date: 2012-11-19
  • Form Type: 10-Q/A
  • Description: Quarterly report (Amendment)
v2.4.0.6
Condensed Consolidated Statements of Cash Flows (USD $) (USD $)
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash Flows from Operating Activities:    
Net loss $ (3,006,496) $ (1,585,107)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 168,917 85,380
Stock-based compensation 943,936 261,610
Beneficial Conversion Feature 120,254  
Amortization of deferred financing costs 18,772  
Abandonment of assets 4,819  
(Increase) decrease in operating assets:    
Accounts receivable 73,332 (44,045)
Prepaid expenses and other assets 48,973 (268,173)
(Decrease) Increase in operating liabilities:    
Accounts payable and accrued expenses 2,718 114,220
Total adjustments 1,381,721 148,992
Net Cash Used in Operating Activities (1,624,775) (1,436,115)
Cash Flows from Investing Activities:    
Acquisition of property and equipment (242,764) (497,715)
Net Cash Used in Investing Activities (242,764) (497,715)
Cash Flows from Financing Activities:    
Proceeds from Loan 265,525   
Proceeds from issuance of stock 1,626,761 2,264,250
Net Cash Provided by Financing Activities 1,892,286 2,264,250
Net Increase (Decrease) in Cash and Cash Equivalents 24,747 330,420
Cash and Cash Equivalents, beginning of period 605,563 763,581
Cash and Cash Equivalents, end of period 630,310 1,094,001
Supplemental Information:    
Cash paid for interest 29,978 1,070
Cash paid for taxes