Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash Flows from Operating Activities:    
Net loss $ (167,454) $ (304,093)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 177,142 225,032
Amortization of debt discount 7,438 1,487
Non cash interest expense 17,260 12,329
Deferred compensation 2,844   
Stock based compensation 34,813 58,126
Changes in Assets and Liabilities:    
Accounts receivable (107,934) (45,841)
Other assets    (1,948)
Prepaid expenses and other current assets 69,999 53,943
Employee loan (2,470)   
Accounts payable and accrued expenses (58,434) (51,430)
Deferred revenue (15,253) (39,389)
Deferred rent (2,594) (2,015)
Due to related party 10,954 12,989
Net Cash by Used in Operating Activities (33,689) (76,914)
Cash Flows from Investing Activities:    
Capital expenditures (3,318)   
Net Cash Used in Investing Activities (3,318)   
Cash Flows from Financing Activities:    
Issuance of convertible debt    100,000
Repayments of capital lease obligations    (28,417)
Repayments of loan obligations    11,887
Repayment of contingent consideration (6,204) (3,105)
Advances from officer 101,994 7,847
Net Cash Provided by Financing Activities 95,790 88,212
Increase in Cash and Cash Equivalents 58,783 11,298
Cash and Cash Equivalents, Beginning of Period 87,675 72,756
Cash and Cash Equivalents, End of Period 146,458 84,054
Cash paid for interest      
Cash paid for income taxes      
Non cash investing and financing activities:    
Accrual of preferred stock dividend 20,486 12,500
Warrants issued with convertible debt    $ 17,851