Annual report pursuant to section 13 and 15(d)

Consolidated Statements of Cash Flows (unaudited)

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Consolidated Statements of Cash Flows (unaudited) (USD $)
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Net Loss $ (1,366,893) $ (692,883)
Net Loss Attributable to Noncontrolling Interest (5,366)  
Depreciation Expense 12,550 19,650
Amortization Expense 196,309 675,048
Issuance of Common Stock for Services 42,500  
Gain on Settlement of Debt   (66,286)
Stock Compensation Expense 432,422 117,610
Accounts Receivable 56,646 (273,279)
Inventory (93,277) (90,007)
Prepaid Expenses & Other Assets (113,110) (10,376)
Accounts Payable 69,722 333,927
Accrued Salaries 130,968 79,867
Accrued Interest   997
Accrued Interest – Related Party 123,981 68,057
Other Accrued Expenses 186,945 (10,360)
Net cash provided/ (used) by operating activities (326,603) 151,965
Investment in Intangible Assets (203,890) (238,750)
Purchase of Fixed Assets (10,276) (22,886)
Net cash used by investing activities (214,166) (261,636)
Sale of Common Stock 860,000 188,443
Common Stock Offering Cost (1,770) (17,396)
Payment on Related Party Debt (120,000) (101,361)
Net cash provided by financing activities 738,230 69,686
Net increase (decrease) in cash 197,461 (39,985)
Cash at Beginning of Year 207,880 247,865
Cash at End of Year 405,341 207,880
Cash paid for interest 2,870 2,349
Cash paid for income taxes    
Stock Issued for Intangible Assets   25,000
Accrued Salaries and wages converted to Long Term Notes Payable   1,620,137
Stock Issued for Debt 9,690  
Related Party Note converted to Common Stock $ 200,000