|
Consolidated Statements of Cash Flows (unaudited) (USD $)
|
3 Months Ended |
|
Mar. 31, 2013
|
Mar. 31, 2012
|
| OPERATING ACTIVITIES |
|
|
| Net loss |
$ (1,877,417) |
$ (2,202,001) |
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Stock option and warrants issued for services |
42,217 |
246,736 |
| (Gain) loss on derivative valuation (verbose} |
|
173,993 |
| Loss on settlement of debt |
11,148 |
|
| Stock issued for services |
8,201 |
27,651 |
| Depreciation and amortization |
598,697 |
630,489 |
| Amortization of debt discount |
20,917 |
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable and billings in excess |
(782,626) |
(213,965) |
| Inventory |
(103,897) |
235,988 |
| Construction in progress |
(1,000) |
|
| Prepaid expenses and deposits |
161,620 |
45,069 |
| Accrued dividends payable |
|
37,098 |
| Accounts payable and accrued expenses- |
462,718 |
(183,498) |
| Net Cash Used in Continuing Operating Activities |
(1,459,422) |
(1,276,636) |
| INVESTING ACTIVITIES |
|
|
| Purchase of property and equipment |
|
|
| Net Cash Used in Investing Activities |
|
|
| FINANCING ACTIVITIES |
|
|
| Proceeds from warrants exercised |
281,450 |
|
| Proceeds from related party loans |
290,000 |
|
| Proceeds from preferred stock |
|
846,000 |
| Proceeds from line of credit |
1,500,000 |
|
| Proceeds from notes payable |
|
|
| Repayment of notes payable |
(62,554) |
(28,496) |
| Repayment of related party loans |
(750,000) |
(11,059) |
| Net Cash Provided by Financing Activities |
1,258,896 |
806,455 |
| NET INCREASE (DECREASE) IN CASH |
(200,526) |
(470,181) |
| CASH AT BEGINNING OF PERIOD |
659,009 |
527,108 |
| CASH AT END OF PERIOD |
458,483 |
56,927 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: |
|
|
| Cash paid for Interest |
30,518 |
7,108 |
| NON CASH FINANCING ACTIVITIES: |
|
|
| Common stock issued upon conversion of debt |
152,165 |
|
| Common stock issued upon conversion of preferred stock |
16,011 |
|
| Common stock issued for debt discount |
24,500 |
|
| Common stock issued for line of credit |
$ 100,000 |
|