XML 16 R6.htm IDEA: XBRL DOCUMENT v3.4.0.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Issued in Conjunction with the Extension of Convertible Note Payable [Member]    
Non-cash investing and financing activities    
Fair value of warrants issued in conjunction with convertible notes payable $ 255,000 $ 404,360
Net loss (1,644,393) (786,188)
Stock option compensation expense 301,839 255,625
Common stock issued for interest and in lieu of salary to officers and fees for services from consultants 173,150 110,827
Interest expense related to amortization of the discount on convertible notes payable 298,771 72,578
Amortization expense 2,730 2,730
Accounts receivable 14,382 (1,814)
Inventories 5,462 $ 4,999
Prepaid expenses and other current assets (43,366)
Deposits (35,000) $ 50,000
Accounts payable and accrued expenses $ (60,081) 12,596
Deferred revenue 4,141
Net cash used in operating activities $ (986,506) (274,506)
Proceeds from convertible notes $ 255,000 363,000
Payment of financing costs (15,513)
Net cash provided by financing activities $ 255,000 $ 347,487
Effect of foreign currency translation (9,318)
Net change in cash (740,824) $ 72,981
Cash at beginning of year 1,763,114 154,460
Cash at end of period $ 1,022,290 227,411
Interest $ 4,683
Income taxes $ 4,000
Conversion of accounts payable into stock options 206,934 $ 247,773
Settlement of accounts payable and interest in shares of common stock $ 173,150 $ 10,725