General form of registration statement for all companies including face-amount certificate companies

Consolidated Statement of Cash Flows

v2.4.0.8
Consolidated Statement of Cash Flows (USD $)
 3 Months Ended 12 Months Ended 91 Months Ended 94 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Dec. 31, 2013
Cash flows from operating activities:            
Net loss $ (808,441) $ (204,955) $ (1,853,791) $ (576,911) $ (4,631,871) $ (5,440,312)
Adjustments to reconcile net loss to cash used in operating activities:            
Depreciation expense 0 522 586 3,372 18,371 18,371
Other noncash adjustments 0 0 (92) 0 5,752 5,753
Stock based compensation 131,563 0 287,927 0 287,927 419,490
Noncash interest expense on convertible notes payable 27,765 33,061 82,147 118,657 441,253 469,018
Noncash interest expense on notes payable to related party 0 9,241 25,599 37,211 142,057 142,057
Issuance of common stock for services 0 0 0 1 253 253
(Increase) decrease in:            
Prepaid expenses and other current assets (20,000) 286 (16,321) 648 (19,629) (39,629)
Other Assets 0 0 (10,062) 0 (10,062) (10,062)
Increase (decrease) in:            
Accounts payable (5,198) 50,832 56,343 139,878 314,769 309,571
Accrued expenses and other liabilities 62,390 (22,009) 91,332 22,508 140,840 203,230
Net cash used in operating activities (611,921) (133,022) (1,336,332) (254,636) (3,310,340) (3,922,260)
Cash flows from investing activities:            
Purchases of property and equipment 0 0 0 0 (19,053) (19,054)
Net cash used in investing activities 0 0 0 0 (19,053) (19,054)
Cash flows from financing activities:            
Proceeds from issuance of common stock and warrants 0 0 2,000,000 0 2,000,000 2,000,000
Repayment of notes payable and accrued interest to related party 0 0 (373,488) 0 (373,488) (373,488)
Proceeds from issuance of notes payable to related party 0 0 0 0 275,200 275,200
Proceeds from issuance of convertible notes payable to related party 0 0 0 0 105,000 105,000
Proceeds from issuance of convertible notes payable 1,000,000 125,000 250,000 235,000 1,880,000 2,880,000
Net cash provided by financing activities 1,000,000 125,000 1,876,512 235,000 3,886,712 4,886,712
Net increase in cash and cash equivalents 388,079 (8,022) 540,180 (19,636) 557,319 945,398
Cash and cash equivalents, beginning of period 557,319 17,139 17,139 36,775 0 0
Cash and cash equivalents, end of period 945,398 9,117 557,319 17,139 557,319 945,398
Supplemental disclosure of cash flow information and non-cash financing activities            
Interest 0 0 98,288 0 98,288 98,288
Income taxes 0 0 0 0 0 0
Debt with warrants issued for promissory notes receivable     $ 1,000,000 $ 0 $ 1,000,000