XML 55 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Cash Flows from operating activities:    
Net (loss) $ (2,882,626) $ (1,166,289)
Adjustments to reconcile net loss to net cash    
Depreciation and amortization 359,414 137,076
Stock, option and warrant expense 1,241,128 31,309
Amortization of debt discount 12,676  
Realized (gain) loss on investments 19,500 (12,000)
Changes in operating assets and liabilities:    
Accounts receivable (603,041) (4,619)
Related party receivable (66,125) (3,000)
Accounts payable and accruals 53,256 241,529
Deferred revenue (54,823) 41,628
Related party payables 522,257 431,148
Net cash (used in) operating activities (1,398,384) (303,218)
Cash Flows from investing activities:    
Cash (paid for) intellectual property (11,542) (2,928)
Net cash (used in) by investing activities (11,542) (2,928)
Cash Flows from financing activities:    
Payments on related party loans   (2,500)
Payments on debt (218,000) (742,000)
Repurchase of treasury stock (573,022)  
Issuance of common stock for cash 3,231,992  
Proceeds from exercise of warrants 47,750  
Borrowings on related party debt 224,000 12,500
Borrowings on debt 532,500 1,017,700
Net cash provided by financing activities 3,245,220 285,700
Increase (decrease) in cash 1,835,294 (20,446)
Cash - beginning of period 11,710 32,156
Cash - end of period 1,847,004 11,710
NON-CASH FINANCING ACTIVITIES    
Debt discount for warrants issued with debt 13,831  
Payment of related party debt in exchange for available for sale securities 10,500  
Repayment of debt with common stock 1,709,291 1,296,715
Repayment of related party debt with common stock 224,000  
Warrants issued for accrued salary 1,022,751  
Warrants issued for accounts payable 51,000  
Repayment of related party payables with common stock 50,000  
Treasury stock purchased in exchange for reduction of accounts receivable 50,000  
Forgiveness of related party debt and accrued interest   84,581
Accounts payable paid by related party loan   50,000
Intangible asset from the purchase of AudioEye by AEAC   3,123,136
Acquisition of non controlling interest   14,701
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest paid $ 12,213 $ 2,864