XML 33 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Statements Of Cash Flows (USD $)
9 Months Ended 165 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (32,742) $ (65,204) $ (510,324)
Adjustments to reconcile net loss to net cash used in operating activities:      
Change in warrant liability (60,419) (20,555) (130,456)
Warrant liability extinguishment from modification of warrants (9,396)    (9,396)
Change in assets and liabilities      
Accounts payable and accrued expenses 580 4,696 (5,424)
Net cash used in operating activities (101,977) (81,063) (655,600)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from convertible debt       56,500
Proceeds from private placement/exercise of stock warrants       5,500
Capital contribution       8,000
Proceeds from private placement       1,962,358
Cash dividends paid on preferred stock       (5,490)
Net cash provided by (used in) financing activities       2,026,868
NET INCREASE (DECREASE) IN CASH (101,977) (81,063) 1,371,268
Cash, at beginning of period 1,484,906 1,581,989 11,661
CASH, END OF PERIOD 1,382,929 1,500,926 1,382,929
SUPPLEMENTAL CASH FLOW INFORMATION      
Cash paid for: Interest         
Cash paid for: Income taxes         
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:      
Accretion of preferred stock to redemption value (100,005) (100,005) (656,180)
Modification on warrants to change to equity 1,176   1,176
Warrant liability extinguishment from modification of warrants 9,396    9,396
Preferred stock issued as stock dividend 1,863 1,863 6,820
416 Private Placement Units were issued in exchange for $56,500 of convertible notes plus $5,900 of accrued interest       62,400
68 Private Placement Units were issued in exchange for $8,000 of stock subscriptions plus $2,200 of accrued interest       $ 10,200