|
STATEMENT OF CASH FLOWS (Unaudited) (USD $)
|
6 Months Ended | |
|---|---|---|
|
Jun. 30, 2012
|
Jun. 30, 2011
|
|
| Cash flows from operating activities: | ||
| Net loss | $ (43,947) | $ (107,465) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation expense | 6,443 | |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other receivables | 175,000 | 2,300 |
| Prepaid income taxes | 2,889 | |
| Accounts payable and accrued expenses | 50,075 | 34,500 |
| Net cash (used in) operating activities | 181,128 | (61,333) |
| Cash flows from financing activities: | ||
| Payments on auto loan | (8,352) | |
| Advance from affiliated company | (450) | 8,349 |
| Proceeds from borrowings on convertible note from officers | 63,575 | 72,850 |
| Repayments of borrowings on convertible note from officers | (247,077) | (11,354) |
| Net cash provided by financing activities | (183,952) | 61,493 |
| Net (decrease) increase in cash | (2,824) | 160 |
| Cash, beginning of period | 5,280 | 10,026 |
| Cash, end of period | 2,456 | 10,186 |
| Cash paid during the period | ||
| Interest | 8 | 111 |
| Income taxes | $ 0 | $ 0 |