Quarterly report pursuant to sections 13 or 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
 3 Months Ended 42 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Loss $ (819,531) $ (630,850) $ (8,836,001)
Amortization of notes payable discount 0 10,579 287,500
Amortization of deferred financing costs 75,508 44,786 437,597
Amortization of intangible assets 886 0 1,181
Stock-based compensation expense 165,318 0 3,852,820
Derivative (income) expense (42,735) 0 115,026
Changes in operating assets and liabilities:      
Decrease (increase) in other assets 45,251 (167) (125,218)
Decrease (increase) in due from related parties 122,427 0 (84,182)
Increase in accounts payable and accrued expenses 220,538 180,913 409,917
Increase in accounts payable and accrued expenses - related party 146,700 0 951,561
Increase in interest payable 89,309 49,700 469,884
Net Cash Provided by (Used In) Operating Activities 3,671 (345,039) (2,519,915)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of fixed assets 0 0 (11,717)
Acquisition of assets 0 0 (500,000)
(Increase) decrease in interest receivable - related party (3,454) 19,217 (6,795)
Issuance of note receivable - related party 0 (83,372) (1,138,057)
Payments on note receivable - related party 0 0 974,228
Net Cash Used In Investing Activities (3,454) (64,155) (682,341)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Payments on financing costs 0 (75,000) (242,000)
Proceeds from issuance of convertible notes payable 0 750,000 3,480,500
Repayments of convertible notes payable 0 0 (35,500)
Net Cash Provided By Financing Activities 0 675,000 3,203,000
Net increase in cash 217 265,806 744
Cash - Beginning of Period 527 25,878 0
Cash - End of Period 744 291,684 744
Cash Paid During the Period for:      
Taxes 0 0 0
Interest 0 0 0
Non-Cash Transactions:      
Assumption of accrued expenses in reverse merger 0 0 1,207
Assumption of due to/from related party in reverse merger 0 0 23,263
Assets acquired in asset acquisition:      
Inventory 0 0 223,000
Fixed assets 0 0 264,000
Intangible assets 0 0 13,000
Cash paid for asset acquisition $ 0 $ 0 $ 500,000