XML 58 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
3 Months Ended 10 Months Ended
Mar. 31, 2014
Mar. 31, 2014
Cash Flows Provided By (Used In) Operating Activities:    
Net loss $ (1,205,922) $ (1,916,884)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Loss on expired option to acquire property 0 150,000
Depreciation 3,116 3,116
Amortization of debt discount 304,841 305,635
Amortization of deferred financing costs 6,000 6,000
(Gain) loss on derivative liability, net 647,640 647,640
Issuance of stock to pay interest expense 3,669 3,669
Issuance of stock compensation 0 40,000
Changes in operating assets and liabilities    
Increase in accounts receivable (65,624) (67,868)
Increase in prepaid (7,304) (7,304)
Increase/(decrease) in accounts payable, accrued expenses (16,399) 26,813
Net cash used in operating activities – continuing operations (329,983) (809,183)
Net cash used in operating activities – discontinued operations 0 (9,871)
Net cash used in operating activities (329,983) (819,054)
Cash Flows Provided By (Used In) Investing Activities:    
Purchase of property and equipment (8,250) (291,003)
Purchase of option to acquire real estate 0 (150,000)
Net cash used in investing activities (8,250) (441,003)
Cash Flows Provided By (Used In) Financing Activities:    
Purchase and cancellation of shares of common stock 0 (100,000)
Sales of common stock for cash 0 985,400
Proceeds from sale of warrants, net 400,000 400,000
Principal repayment on convertible notes payable (1,737) (1,737)
Proceeds from issuance of convertible notes payable, net of cash expenses 1,412,400 1,876,260
Deferred financing costs (15,000) (15,000)
Net cash provided by financing activities 1,795,663 3,144,923
Net Increase In Cash 1,457,430 1,884,866
Cash, beginning of period 427,436 0
Cash, end of period 1,884,866 1,884,866
SUPPLEMENTAL SCHEDULE OF CASH FLOW INFORMATION    
Cash paid for interest 46,476 46,476
Cash paid for income taxes 0 0
Net liabilities acquired on recapitalization 0 10,663
Cancellation of shares of common stock 0 100,000
Issuance of common stock for services 0 40,000
Net assets transferred on disposal of mapping division 0 452
Purchase of property with mortgage 0 170,000
Non-cash financing costs 100,000 100,000
Convertible notes payable settled in stock 255,000 255,000
Interest on convertible notes payable settled in stock 3,669 3,669
Warrants issued as payment for deferred financing costs $ 92,600 $ 92,600