Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

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Statements of Cash Flows (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,275,327) $ (1,933,250)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation expense 51 51
Amortization of debt discounts 0 324,720
Amortization of deferred financing costs 0 11,092
Shares issued for services 160,299 14,512
Options expense 323,496 0
Gain on change in fair value of derivative liability 0 249,728
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 46,111 4,650
Accounts payable 43,463 (36,441)
Accounts payable - related party (4,500) 34,085
Accrued expenses (24,591) (150,212)
Net Cash Used In Operating Activities (730,998) (1,481,065)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid for construction in progress (2,000,000) 0
Net Cash Used in Investing Activities (2,000,000) 0
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the sale of common stock 400,000 0
Payments on related party debt 0 (522,732)
Borrowings on convertible debt 0 2,347,399
Payments on convertible debt 0 (25,000)
Borrowings on debt 0 458,000
Payments on debt 0 (655,303)
Net Cash Provided by Financing Activities 400,000 1,602,364
NET CHANGE IN CASH AND CASH EQUIVALENTS (2,330,998) 121,299
CASH AND CASH EQUIVALENTS - beginning of period 2,575,087 8,342
CASH AND CASH EQUIVALENTS - end of period 244,089 129,641
SUPPLEMENTAL DISCLOSURES:    
Cash paid for interest 0 116,454
Cash paid for income taxes 0 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Derivative liabilities recorded in additional paid-in capital 0 156,032
Derivative liabilities recorded as debt discounts 0 187,880
Deferred financing costs accrued 0 120,000
Common stock issued with debt $ 0 $ 81,921