XML 50 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash Flows From Operating Activities:    
Net loss $ (237,257) $ (236,927)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation of property and equipment 1,304 2,920
Debt offering costs 0 2,500
Amortization of debt discount 3,657 0
Stock issued for services 99,000 0
Bad debt expense 0 98,248
Change in fair value of derivative liability 3,686 0
Changes in assets and liabilities:    
Accounts receivable and prepaid expenses 0 10,845
Accrued interest on notes receivable (42,000) (30,893)
Accounts payable and accrued expenses 44,079 11,506
Accrued interest on notes payable 45,133 31,544
Net cash provided by (used in) operating activities (82,398) (35,257)
Cash flows from investing activities:    
Net cash provided by investing activities 0 0
Cash flows from financing activities:    
Cash inflow from "changes in bank overdraft" (17) 0
Additional borrowing under a note, net 122,500 40,364
Repayment of note payable, net (40,061) 0
Net cash provided by financing activities 82,422 40,364
Net increase (decrease) in cash and cash equivalents 24 5,107
Cash and cash equivalents, beginning of year 0 618
Cash and cash equivalents, end of year 24 5,725
Cash paid during the quarter for:    
Interest 0 0
Income taxes 0 0
NON-CASH ACTIVITIES:    
Debt discount recorded on convertible and unsecured debt accounted for as a derivative liability 6,314 0
Shares issued in conversion of convertible debt and accrued interest $ 110,378 $ 0