|
Consolidated Statements of Cash Flows (Unaudited) (USD $)
|
9 Months Ended |
|
Sep. 30, 2011
|
Sep. 30, 2010
|
| CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
| Net Income/(loss) |
$ 104,361 |
$ (462,333) |
| operating activities: |
|
|
| Depreciation |
0 |
588 |
| Loss on Disposal of Computer Equipment |
1,436 |
0 |
| Note Payable Converted into Shares |
0 |
2,000 |
| Value of Shares returned for services not performed |
(98,000) |
374,000 |
| Changes in Assets and Liabilities: |
|
|
| (Increase)/Decrease in Accounts Receivable |
(703) |
17,377 |
| (Increase) in Interest Receivable--Related Party |
(13,144) |
(10,654) |
| Decrease in Prepaid and Other Current Assets |
76,167 |
27,283 |
| (Decrease) in Accruals and Other Payables |
1,454 |
6,290 |
| (Decrease) in Accounts Payable |
(9,452) |
(4,046) |
| NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES |
62,119 |
(49,495) |
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
| Proceeds from Issuance of Convertible Note Payable |
0 |
50,000 |
| Principal Reduction on Convertible Note Payable--shares issued |
0 |
(2,000) |
| Payoff of Convertible Note Payable |
(36,000) |
0 |
| Principal Payments Made on line of Credit |
(17,028) |
(16,370) |
| NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES |
(53,028) |
31,630 |
| NET INCREASE IN CASH AND |
|
|
| CASH EQUIVALENTS |
9,091 |
(17,865) |
| CASH AND CASH EQUIVALENTS: |
|
|
| Beginning of Period |
27,603 |
76,448 |
| End of Period |
36,694 |
58,583 |
| CASH PAID DURING THE PERIOD FOR: |
|
|
| Interest |
4,853 |
2,635 |
| Taxes |
0 |
0 |
| NON CASH INVESTING AND FINANCING ACTIVITIES: |
|
|
| Shares of Common Stock Returned for Consulting Services not Performed |
(98,000) |
0 |
| Shares of Common Stock Issued for Prepaid Consulting Services |
0 |
18,000 |
| Stock Issued for Consulting Services/Employee Bonus |
$ 0 |
$ 356,000 |