Quarterly report pursuant to sections 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v2.4.0.6
Condensed Consolidated Statements of Cash Flows (USD $)
 3 Months Ended 43 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Loss $ (2,223,061) $ (1,532,806) $ (21,163,488)
Adjustments to reconcile net income (loss) to net cash (used in) operating activities:      
Depreciation and amortization 133,381 31,088 551,866
Amortization of discount on convertible notes payable 117,992    291,599
Loss on common stock issued in exchange for extinguishment of warrants       485,000
Gain on change in fair value of derivative liability       (245,217)
Common stock issued for services and incentive fees 461,392 450,000 11,357,850
Warrants and options issued for services and incentive fees 525,163 240,037 1,369,062
Loss on settlement of accounts payable for stock 47,856    47,856
Loss on repayment of convertible notes payable 46,701    46,701
Changes in operating assets and liabilities:      
Inventory       (72,768)
Advanced commissions (18,500) (38,000) (319,250)
Deposits    (6,908) (33,957)
Prepaid expenses and other current assets 51,152 (170,963) 16,051
Other assets 34,016 (12,063) (5,280)
Accounts payable and accrued expenses 276,579 2,961 849,488
Deferred rent (1,899)    28,277
Deferred revenue 777,531    832,274
Accrued interest-related party (5) (40) 4,480
Net Cash Provided/(Used) by Operating Activities 228,298 (1,036,694) (5,991,556)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of office and computer equipment    (8,291) (63,321)
Purchase of automobile    50,000 (50,000)
Purchase of electric charging stations, net (859,547) (141,207) (2,116,552)
Cash paid for acquisition (171,075)    (171,075)
Net Cash Used in Investing Activities (1,030,622) (199,498) (2,400,948)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of notes payable       396,000
Proceeds from sale of preferred stock    1,000,000 900,000
Sale of common stock, net of issuance costs 1,958,069 500,000 8,273,417
Payment of convertible notes payable (146,000)    (146,000)
Payment of notes payable (2,972)    (10,724)
Net Cash Provided by Financing Activities 1,809,097 1,500,000 9,412,693
NET INCREASE IN CASH 1,006,773 263,808 1,020,189
CASH AT THE BEGINNING OF PERIOD 13,416 406,859   
CASH AT END OF PERIOD 1,020,189 670,667 1,020,189
Cash Paid For:      
Interest expenses 3,310    5,345
Income taxes         
NONCASH INVESTING AND FINANCING ACTIVITIES      
Common stock issued for debt and accrued interest    3,823 577,695
Beneficial conversion feature of notes payable and related warrants issued       276,926
Inventory reclassified to electric car charging stations       72,768
Issuance of warrants in consideration of equity investment       273,697
Debt and accrued interest converted to common stock       100,691
Common stock issued for settlement of accounts payable 85,390    110,390
Note payable for purchase of automobile    57,050 64,693
Purchase of software development for common stock 150,000    150,000
Common stock issued for acquisition 2,000,000    2,000,000
Issuance of note payable for acquisition $ 461,150    $ 461,150