Quarterly report pursuant to sections 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
 6 Months Ended 46 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (7,863,477) $ (2,431,022) $ (26,803,904)
Adjustments to reconcile net (loss) to net cash (used in) operating activities:      
Depreciation and amortization 761,370 93,637 1,179,855
Amortization of discount on convertible notes payable 126,783    266,609
Loss on common stock issued in exchange for extinguishment of warrants       485,000
Gain on change in fair value of derivative liability       (245,217)
Non-cash compensation         
Common stock issued for services and incentive fees 1,837,881 620,230 12,734,339
Warrants and options issued for services and incentive fees 3,307,423 236,651 4,151,322
Loss on settlement of accounts payable for stock 47,856    47,856
Loss on repayment of convertible notes payable 46,701    46,701
Provision for warrant liability 187,000    187,000
Changes in operating assets and liabilities:      
Inventory       (72,768)
Advanced commissions (48,500) (77,000) (349,250)
Deposits    (35,821) (33,957)
Prepaid expenses and other current assets (24,734) 51,385 (91,937)
Other assets (24,600) (32,257) (30,114)
Accounts payable and accrued expenses (261,719) 100,573 311,191
Deferred rent (4,101) 33,972 26,075
Deferred revenue 919,091    973,834
Accrued interest-related party (5) (40) 4,480
Net Cash Used in Operating Activities (993,031) (1,439,692) (7,212,885)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of office and computer equipment    (9,139) (63,321)
Purchase of accounts receivable (163,292)    (163,292)
Purchase of automobile    (50,000) (50,000)
Purchase of EV stations (905,502) (437,154) (2,162,507)
Cash from acquisitions in excess of amount paid 9,354    9,354
Net Cash Used in Investing Activities (1,059,440) (496,293) (2,429,766)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of notes payable 145,000    541,000
Proceeds from stock subscription payable 525,000    525,000
Proceeds from sale of preferred stock    900,000 900,000
Sale of common stock, net of issuance costs 2,208,000 1,360,000 8,523,348
Payment of notes and convertible notes payable (673,780) (1,915) (681,532)
Net Cash Provided by Financing Activities 2,204,220 2,258,085 9,807,816
NET INCREASE IN CASH 151,749 322,100 165,165
CASH AT THE BEGINNING OF PERIOD 13,416 406,859   
CASH AT END OF PERIOD 165,165 728,959 165,165
Cash Paid For:      
Interest expenses 8,735 517 10,770
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 1,195,888    1,469,585
Debt and accrued interest converted to common stock       100,691
Common stock issued for settlement of accounts payable 213,331    238,331
Note payable for purchase of automobile    64,693 64,693
Purchase of software development for common stock 150,000    150,000
Issuance of common stock for acquisition 3,157,272    3,750,000
Issuance of note payable for acquisition $ 1,005,918    $ 1,005,918