|
Statements of Cash Flows (Unaudited) (USD $)
|
3 Months Ended |
65 Months Ended |
|
Mar. 31, 2012
|
Mar. 31, 2011
|
Mar. 31, 2012
|
| Cash Flows from Operating Activities |
|
|
|
| Net loss |
$ (82,683) |
$ (47,451) |
$ (4,358,154) |
| Adjustments to reconcile net loss to net cash provided by (used in) operations: |
|
|
|
| Depreciation |
48 |
|
156 |
| Write-off of technology license |
|
|
467,000 |
| (Increase) decrease in prepaid expenses |
9,011 |
|
(14,587) |
| (Increase) decrease in accounts receivable |
(4,532) |
|
(7,482) |
| Increase (decrease) in accounts payable and accrued liabilities |
8,927 |
59,179 |
487,006 |
| Increase (decrease) in shareholder's loans |
|
(10,184) |
204,954 |
| Shares issued for services |
|
|
2,249,500 |
| Gain on debt settlement |
|
|
(291,008) |
| Stock-based compensation |
|
|
716,656 |
| Net cash used in operating activities |
(69,228) |
1,543 |
(545,959) |
| Cash Flows from Investing Activities |
|
|
|
| Investment in Gogiro |
|
|
(50,000) |
| Acquisition of capital assets |
|
|
(1,078) |
| Acquisition of technology license |
|
|
(467,000) |
| Net cash provided from investing activities |
|
|
(518,078) |
| Cash Flows from Financing Activities |
|
|
|
| Common stock issued for cash |
|
|
926,050 |
| Proceeds received from loans - related parties |
|
|
287,100 |
| Payments made on loans - related parties |
|
|
(21,011) |
| Net cash provided by financing activities |
|
|
1,192,139 |
| Net Increase (Decrease) in cash |
(69,228) |
1,543 |
128,102 |
| Cash, Beginning of Period |
197,331 |
746 |
|
| Cash, End of Period |
128,102 |
2,289 |
128,102 |
| Supplemental Cash Flow Information |
|
|
|
| Cash paid for interest |
0 |
0 |
0 |
| Cash paid for income taxes |
0 |
0 |
0 |
| Non-cash operating, financing and investing activities |
|
|
|
| Shares issued for services |
0 |
0 |
0 |
| Shares issued for technology |
0 |
0 |
0 |
| Shares issued for settlement of debt |
0 |
0 |
0 |
| Shares issued for investment |
$ 0 |
$ 0 |
$ 0 |