Annual report pursuant to section 13 and 15(d)

Consolidated Balance Sheets

v2.3.0.11
Consolidated Balance Sheets (USD $)
Dec. 31, 2011
Dec. 31, 2010
CURRENT ASSETS:    
Cash and cash equivalents $ 406,859 $ 373,868
Deposits and advanced commissions 178,694 69,696
Prepaid expenses and other current assets 157,258 78,004
Total current assets 742,811 521,568
OTHER ASSETS:    
EV Charging stations, net of accumulated depreciation of $129,554 and $11,242, respectively 544,898 216,616
Office and computer equipment, net of accumulated depreciation of $14,810 and $5,373, respectively 35,857 30,995
Total other assets 580,755 916,879
TOTAL ASSETS 1,323,566 1,438,447
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 365,113 104,432
Accrued interest-related party 40 7,268
Convertible notes-related party, net of discount of $0 and $15,614, respectively 3,750 69,387
TOTAL CURRENT LIABILITIES 368,903 181,087
Derivative liabilities 0 3,467,864
Total liabilities 368,903 3,648,951
STOCKHOLDERS' EQUITY ( DEFICIT):    
Series A Convertible Preferred stock, par value $.001 per share; 20,000,000 authorized; 10,000,000 issued and outstanding at December 31, 2011 and 2010, respectively 10,000 10,000
Common stock, par value $.001 per share; 500,000,000 shares authorized; 37,384,414 and 1,796,817 shares issued and outstanding at December 31, 2011 and 2010, respectively 37,384 1,797
Additional paid-in capital 15,557,096 9,619,173
Deficit accumulated during the development stage (13,650,817) (12,510,742)
Stock subscriptions receivable (999,000) 0
TOTAL STOCKHOLDERS'EQUITY (DEFICIT) 954,663 (2,879,772)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 1,323,566 $ 769,179