UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
|
6 Months Ended |
Jun. 30, 2015 |
Jun. 30, 2014 |
| Cash flows from operating activities: |
|
|
| Net loss |
$ (596,050)
|
$ (633,532)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Provision for bad debt |
120,000
|
120,000
|
| Interest expense related to warrant amortization |
0
|
18,445
|
| Stock based compensation |
98,733
|
192,359
|
| Accretion of debt discount on long-term debt |
0
|
48,199
|
| Depreciation and amortization expense |
14,885
|
11,800
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable, net |
126,586
|
39,756
|
| Prepaid expenses and other assets |
(50,726)
|
(15,519)
|
| Due to related party |
0
|
374
|
| Accounts payable and accrued liabilities |
(63,480)
|
14,102
|
| Net cash used in operating activities |
(350,052)
|
(204,016)
|
| Cash flows from investing activities: |
|
|
| Purchase of equipment |
(13,024)
|
(4,793)
|
| Net cash used in investing activities |
(13,024)
|
(4,793)
|
| Cash flows from financing activities: |
|
|
| Payment of notes payable and long-term debt |
(350,000)
|
0
|
| Net proceeds from line of credit |
525,000
|
0
|
| Payment of related party payable |
0
|
(90,000)
|
| Net cash provided by (used in) financing activities |
175,000
|
(90,000)
|
| Net decrease in cash and cash equivalents |
(188,076)
|
(298,809)
|
| Cash and cash equivalents at beginning of period |
358,052
|
687,549
|
| Cash and cash equivalents at end of period |
169,976
|
388,740
|
| Supplementary cash flow information: |
|
|
| Interest paid |
36,255
|
95,000
|
| Taxes paid |
$ 0
|
$ 0
|