Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Statements Of Cash Flows [Abstract]    
Net loss $ (984,759) $ (2,308,045)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 784,514 728,001
Amortization of debt discount 21,917   
Non cash interest expense 62,356 45,890
Loss on equity method investment 32,450   
Deferred compensation 8,510 19,480
Allowance for doubtful accounts (11,801) (21,199)
Stock based compensation 490,386 300,266
Changes in Assets and Liabilities:    
Accounts receivable (45,282) 114,021
Other assets 8,040 12,144
Prepaid expenses and other current assets 13,168 33,923
Employee loan (35,730) (10,000)
Accounts payable and accrued expenses (292,072) 245,450
Deferred revenue (18,717) 2,219
Deferred rent (9,216) (6,938)
Due to related party 45,044 38,051
Net Cash provided by (used in) Operating Activities 68,808 (806,737)
Cash Flows from Investing Activities:    
Capital expenditures (8,425) (106,053)
Investment in joint venture (32,450)   
Net Cash Used in Investing Activities (40,875) (106,053)
Cash Flows from Financing Activities:    
Proceeds from the issuance of common stock 27,596 500,000
Issuance of convertible debt 200,000 500,000
Repayments of capital lease obligations (274,850) (220,584)
Repayments of loan obligations    92,757
Repayment of contingent consideration (9,315) (3,105)
Advances from shareholder 43,555 133,502
Net Cash Provided by (used in) Financing Activities (13,014) 817,056
Increase (Decrease) in Cash and Cash Equivalents 14,919 (95,734)
Cash and Cash Equivalents, Beginning of Year 72,756 168,490
Cash and Cash Equivalents, End of Year 87,675 72,756
Cash paid for interest 39,065 50,012
Cash paid for income taxes 8,824   
Non cash investing and financing activities:    
Stock issued in connection with Message Logic    108,894
Accrual of preferred stock dividend 118,311 50,000
Warrants issued with convertible debt 35,702   
Fixed assets acquired under capital leases    309,297
Stock issued for financing fees    42,500
Stock issued for compensation $ 263,433 $ 443,664