|
Consolidated Statements of Cash Flows (Unaudited) (USD $)
|
3 Months Ended |
|
Mar. 31, 2012
|
Mar. 31, 2011
|
| CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
| Net loss attributable to DirectView Holdings, Inc. |
$ (136,710) |
$ (522,088) |
| Adjustments to Reconcile Net Loss to Net Cash Flows Used in Operating Activities: |
|
|
| Depreciation |
75 |
75 |
| Fair value of subsidiary's common stock issued for services |
0 |
475,000 |
| Change in fair value of derivative liability |
156 |
(11,938) |
| Non-Controlling Interest |
(9,063) |
(155,733) |
| Amortization of debt issuance costs |
0 |
1,833 |
| Amortization of debt discount |
2,038 |
18,478 |
| Lease abandonment charges |
0 |
3,598 |
| Bad debt expenses |
(29,376) |
0 |
| (Increase) Decrease in: |
|
|
| Accounts receivable |
4,934 |
29,867 |
| Other current assets |
6,651 |
0 |
| Other assets |
200 |
2,196 |
| Increase (Decrease) in: |
|
|
| Accounts payable |
5,954 |
10,018 |
| Accrued expenses and accrued payroll taxes |
122,235 |
30,959 |
| Deferred revenue |
(32) |
(121) |
| Net Cash Flows Used in Operating Activities |
(32,938) |
(117,856) |
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
| Bank overdraft |
782 |
0 |
| Net proceeds from sale of subsidiary's common stock |
0 |
62,424 |
| Net proceeds from sale of common stock |
0 |
32,195 |
| Due to related parties |
25,141 |
21,523 |
| Net Cash Flows Provided by Financing Activities |
25,923 |
116,142 |
| Net Decrease in Cash |
(7,015) |
(1,714) |
| Cash - Beginning of Period |
7,248 |
7,288 |
| Cash - End of Period |
233 |
5,574 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: |
|
|
| Interest |
0 |
0 |
| Income Taxes |
0 |
0 |
| NON-CASH INVESTING AND FINANCING ACTIVITIES: |
|
|
| Derivative liability reclassified to equity |
10,288 |
7,527 |
| Issuance of common stock in connection with conversion of promissory note |
$ 10,000 |
$ 10,000 |