Quarterly report pursuant to sections 13 or 15(d)

Consolidated Statement of Cash Flows

v2.4.0.8
Consolidated Statement of Cash Flows (USD $)
 3 Months Ended 94 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Cash flows from operating activities:      
Net loss $ (808,441) $ (204,955) $ (5,440,312)
Adjustments to reconcile net loss to cash used in operating activities:      
Stock based compensation 131,563 0 419,490
Noncash interest expense on notes payable 27,765 33,061 469,018
Noncash interest expense on notes payable to related party 0 9,241 142,057
Depreciation expense 0 522 18,371
Other noncash adjustments 0 0 5,753
Issuance of common stock for services 0 0 253
(Increase) decrease in:      
Prepaid expenses and other current assets (20,000) 286 (39,629)
Other Assets 0 0 (10,062)
Increase (decrease) in:      
Accounts payable (5,198) 50,832 309,571
Accrued expenses and other liabilities 62,390 (22,009) 203,230
Net cash used in operating activities (611,921) (133,022) (3,922,260)
Cash flows from investing activities:      
Purchases of property and equipment 0 0 (19,054)
Net cash used in investing activities 0 0 (19,054)
Cash flows from financing activities:      
Proceeds from issuance of common stock and warrants 0 0 2,000,000
Repayment of notes payable and accrued interest to related party 0 0 (373,488)
Proceeds from issuance of notes payable to related party 0 0 275,200
Proceeds from issuance of convertible notes payable to related party 0 0 105,000
Proceeds from issuance of notes payable 1,000,000 125,000 2,880,000
Net cash provided by financing activities 1,000,000 125,000 4,886,712
Net increase (decrease) in cash and cash equivalents 388,079 (8,022) 945,398
Cash and cash equivalents, beginning of period 557,319 17,139 0
Cash and cash equivalents, end of period 945,398 9,117 945,398
Supplemental disclosure of cash flow information and non-cash financing activities      
Interest 0 0 98,288
Income taxes $ 0 $ 0 $ 0