General form of registration statement for all companies including face-amount certificate companies

Statements of Cash Flows

v2.4.0.6
Statements of Cash Flows (USD $)
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Statement of Cash Flows [Abstract]    
Net loss $ (3,128,262) $ (3,128,262)
Depreciation and amortization 141,315 197,431
Accretion of interest and amortization of debt issuance costs 108,876   
Stock-based compensation expense 121,974 273,181
Change in fair value of warrant derivative liability (529,303)   
Bad debt expense 9,600   
Accounts receivable (44,991) (30,635)
Inventories 48,607 (465,706)
Deposits    175,538
Accounts payable 768,849 86,481
Accrued employee compensation 8,186 66,427
Deferred revenue and other accrued expenses 54,500 67,912
Prepaid expenses and other current assets 55,955 (114,547)
Net cash used in operating activities (2,153,864) (2,872,180)
Purchases of property and equipment (2,642) (92,111)
Net cash used in investing activities (2,642) (92,111)
Proceeds from stock option exercise 43,980 20,220
Decrease in restricted cash 20,014   
Proceeds from stock warrant exercise    1,421,275
Borrowings on short-term loans 412,000   
Net proceeds from the issuance of preferred stock 1,350,438 465,867
Net cash provided by financing activities 1,826,432 1,907,362
Change in cash and cash equivalents (330,074) (1,056,929)
Cash and cash equivalents, beginning of period 552,849 1,609,778
Cash and cash equivalents, end of period 222,775 552,849
Income taxes paid 1,900   
Income tax refund received 23,710 244,479
Issuance of common stock dividend on preferred stock 150,497 222,931
Issuance of common stock warrants to placement agent 94,313 18,122
Issuance of common stock warrants for services    116,234
Issuance of common stock for services 109,996 25,970
Series B dividend paid in cash 7,212 7,212
Warrant modifications 325,595   
Beneficial conversion feature on convertible preferred stock $ 722,971 $ 154,389