Quarterly report pursuant to sections 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.3.0.11
Condensed Consolidated Balance Sheets (USD $)
Mar. 31, 2012
Dec. 31, 2011
CURRENT ASSETS:    
Cash and cash equivalents $ 670,667 $ 406,859
Advanced commissions 210,250 172,250
Deposits 13,314 6,444
Prepaid expenses and other current assets 328,333 157,258
Total current assets 1,222,564 742,811
FIXED ASSETS:    
Automobiles, net of accumulated depreciation of $0 and $0, respectively 107,050 0
EV Charging stations, net of accumulated depreciation of $158,022 and $129,554, respectively 657,637 544,898
Office and computer equipment, net of accumulated depreciation of $17,430 and $14,810, respectively 41,528 35,857
Total fixed assets 806,215 580,755
OTHER ASSETS 12,062 0
TOTAL ASSETS 2,040,841 1,323,566
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 318,074 365,113
Accrued interest-related party 0 40
Convertible notes-related party, net of discount of $0 and $0, respectivley 0 3,750
Current portion of note payable 11,410 0
Preferred stock payable 1,000,000 0
TOTAL CURRENT LIABILITIES 1,329,484 368,903
OTHER LIABILITIES:    
Note payable 45,640 0
Total liabilities 1,375,124 368,903
STOCKHOLDERS' EQUITY:    
Series A Convertible Preferred stock, par value $.001 per share; 20,000,000 authorized; 10,000,000 and 10,000,000 issued and outstanding at March 31, 2012 and December 31, 2011, respectively 10,000 10,000
Common stock, par value $.001 per share; 500,000,000 shares authorized; 39,788,450 and 37,384,414 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively 39,788 37,384
Additional paid-in capital 16,798,552 15,557,096
Deficit accumulated during the development stage (15,183,623) (13,650,817)
Stock subscriptions receivable (999,000) (999,000)
TOTAL STOCKHOLDERS' EQUITY 665,715 954,662
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,040,841 $ 1,323,566