Quarterly report pursuant to sections 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v2.3.0.11
Condensed Consolidated Statements of Cash Flows (USD $)
 6 Months Ended 22 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income (loss) $ 1,640,739 $ (1,576,316) $ (10,870,003)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation 45,602 12,364 62,217
Amortization of discount on convertible notes payable 13,927 0 47,728
Change in fair value of derivatives liability (3,278,162) 833,751 (34,764)
Common stock and warrants issued for services 590,584 127,500 8,048,597
Changes in operating assets and liabilities:      
Account receivable   0  
Inventory 0 12,220 (72,768)
Prepaid expenses and other current assets (140,683) 37,415 (218,687)
Deposits 35,802 599 (33,894)
Accounts payable and accrued expenses 67,224 (60,002) 171,619
Accrued interest 188 2,664 7,456
Net Cash Used in Operating Activities (1,024,779) (609,805) (2,892,499)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of office and computer equipment (15,972) (5,538) (52,340)
Purchase of Electric Charging Stations (138,817) (15,281) (293,907)
Net Cash Used in Investing Activities (154,789) (20,819) (346,247)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from convertible notes payable 0 0 100,000
Proceeds from notes payable to stockholder 0 5,000 0
Sale of common stock, net of issuing costs 999,999 57,500 3,333,045
Net Cash Provided By Financing 999,999 62,500 3,433,045
NET CHANGE IN CASH (179,569) (568,124) 194,299
CASH AT BEGINNING OF PERIOD 373,868 603,156 0
CASH AT END OF PERIOD 194,299 35,032 194,299
SUPPLEMENTAL SCHEDULE OF CASH FLOW ACTIVITIES, Cash Paid For:      
Interest expenses 0 0 0
Income taxes 0 0 0
NONCASH INVESTING AND FINANCING ACTIVITIES:      
Notes payable converted into common stock 58,441 0 77,441
Inventory reclassified to Property and Equipment $ 0 $ 0 $ 72,768