XML 41 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
3 Months Ended 171 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ (22,038) $ 4,028 $ (572,299)
Adjustment to reconcile to net income (loss) to net cash used in operating activities:      
Change in warrant liability    (34,165) (130,456)
Warrant liability extinguishment from modification of warrants       (9,396)
Change in assets and liabilities      
Accounts payable and accrued expenses (1,095) 17,210 (11,155)
Net cash used in operating activities (23,133) (12,927) (723,306)
CASH FLOWS FROM INVESTING ACTIVITIES         
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 financing activities       2,026,868
NET INCREASE (DECREASE) IN CASH (23,133) (12,927) 1,303,562
Cash, at beginning of period 1,338,356 1,484,906 11,661
CASH, END OF PERIOD 1,315,223 1,471,979 1,315,223
SUPPLEMENTAL CASH FLOW INFORMATION:      
Cash paid for: Interest       8,591
Cash paid for: Income taxes         
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:      
Accretion of preferred stock to redemption value    33,335 656,180
Modification on warrants to change to equity       1,176
Preferred stock issued as stock dividend       8,887
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