Quarterly report pursuant to sections 13 or 15(d)

Consolidated Statements of Cash Flows

v2.3.0.11
Consolidated Statements of Cash Flows (USD $)
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Net Loss $ (600,301) $ (176,250)
Depreciation Expense 3,070 3,668
Amortization Expense 35,645 51,162
Issuance of Common Stock for Services   9,690
Stock Compensation Expense 61,960 1,771
Accounts Receivable 338,922 383,444
Inventory 69,895 22,731
Prepaid Expenses & Other Assets (22,682) (35,708)
Accounts Payable (2,617) (404,691)
Accrued Salaries 123,237 121,034
Accrued Interest – Related Party 32,055 33,861
Other Accrued Expenses 12,017 (29,424)
Net cash provided/(used) in operating activities 51,201 (18,712)
Cash Flows from Investing Activities:    
Investment in Intangible Assets (27,771) (60,042)
Purchase of Fixed Assets   (4,675)
Net cash provided/(used) by investing activities (27,771) (64,717)
Cash Flows from Financing Activities:    
Sale of Common Stock   225,000
Payments on Related Party Debt   (80,000)
Net cash provided/(used) by financing activities   145,000
Net increase/(decrease) in cash 23,430 61,571
Beginning Cash Balance 405,341 207,880
Ending Cash Balance 428,771 269,451
Cash paid for income taxes    
Cash paid for interest 1,160  
Related Party Note converted to Common Stock $ 1,745,546