Quarterly report pursuant to sections 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows (USD $)
 3 Months Ended 31 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income (loss) $ (1,532,806) $ 2,370,583 $ (15,183,623)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation 31,088 17,957 181,074
Amortization of discount on convertible notes payable 0 9,638 70,166
Loss on common stock issued in exchange for extinguishment of warrants 0 0 485,000
Gain on change in fair value of derivative liability 0 (3,333,490) (245,217)
Non-cash compensation 240,037 0 240,037
Common stock and warrants issued for services and incentive fees 450,000 586,084 9,780,833
Changes in operating assets and liabilities:      
Inventory 0 0 (72,768)
Advanced commissions (38,000) (14,500) (186,000)
Deposits (6,908) 47,728 (29,294)
Prepaid expenses and other current assets (170,963) (33,257) (330,570)
Other assets (12,063) 0 (12,063)
Accounts payable and accrued expenses 2,961 (5,426) 393,037
Accrued interest-related party (40) 2,602 4,480
Net Cash Used in Operating Activities (1,036,694) (352,081) (4,904,908)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of office and computer equipment (8,291) 0 (58,958)
Purchase of automobile (50,000) 0 (50,000)
Purchase of electric charging stations (141,207) (107,289) (748,512)
Net Cash Used in Investing Activities (199,498) (107,289) (857,470)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net proceeds from notes payable to stockholder 0 125,000 100,000
Proceeds from preferred stock payable 1,000,000 0 1,000,000
Sale of common stock, net of issuing cost 500,000 0 5,333,045
Net Cash Provided by Financing Activities 1,500,000 125,000 6,433,045
NET INCREASE (DECREASE) IN CASH 263,808 (334,370) 670,667
CASH AT THE BEGINNING OF PERIOD 406,859 373,868 0
CASH AT END OF PERIOD 670,667 39,498 670,667
Cash Paid For:      
Interest expenses 0 0 0
Income taxes 0 0 0
NONCASH INVESTING AND FINANCING ACTIVITIES-      
Common stock issued for debt and accrued interest 3,823 58,441 577,695
Inventory reclassified to Property and Equipment 0 72,768 72,768
Debt and accrued interest converted to common stock 0 15,000 100,691
Common stock issued in exchange for extinguishment of warrants 0 0 485,000
Common stock issued for settlement of accounts payable 0 0 25,000
Common stock issued for director compensation 146,250 0 146,250
Common stock issued for services 450,000 433,499 1,584,999
Warrants issued for services 93,787 6,995,084 8,260,191
Note payable for purchase of automobile $ 57,050 $ 0 $ 57,050