General form of registration statement for all companies including face-amount certificate companies

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
 6 Months Ended 12 Months Ended 93 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Cash flows from operating activities:          
Net loss $ (13,305,999) $ (1,501,521) $ (4,361,165) $ (2,543,390) $ (32,897,657)
Adjustments to reconcile net income to net cash used in operating activities:          
Depreciation     5,622 92,596 1,007,176
Amortization     30,609 30,610 168,363
Depreciation and amortization 18,761 16,376      
Stock based compensation expense 9,997,201 6,435 9,877 23,645 1,599,467
Discount amortization 4,592 34,813 60,581 363,858 1,648,452
Gain/loss on sale of assets (2,426)       1,254 (28,648)
Loss on abandonment of patents    542 9,340    57,847
Changes in assets and liabilities:          
Deposits and other assets 2,578 (177) (54,516) 59,572 (94,220)
Prepaid expenses (52,421) 11,050 (3,197) (8,088) 505
Inventory             (986,674)
Accrued payroll and payroll related expenses (183,496) 163,026 77,683 671,270 3,650,771
Accounts payable (96,538) (52,228) (29,867) (48,173) 682,319
Accrued interest (101,553) (448,401) 450,555 363,768 1,124,530
Fees payable to directors (44,792) (32,648) (64,455) 63,000 468,546
Patent license payable (10,000) (15,833) (15,833) (6,667) 20,000
Other current liabilities (12,613) (4,424) 8,189 (1,242) 12,613
Lease settlement payable    (190,000) (251,184) (221,250)   
Employee settlement           50,000
Net cash used in operating activities (3,786,706) (2,012,990) (4,127,761) (1,159,237) (23,516,610)
Cash flows from investing activities:          
Purchases of property and equipment    (8,757) (30,259)    (729,163)
Proceeds from sale of property and equipment 2,426       4,014 112,759
Expenditures on patents (9,135) (13,334) (29,696) (35,155) (650,967)
Net cash used in investing activities (6,709) (22,091) (59,955) (31,141) (1,267,371)
Cash flows from financing activities:          
Proceeds from the issuance of common stock 3,923,100          1,581,275
Proceeds from the issuance of series A preferred stock           6,714,860
Proceeds from the issuance of series B preferred stock           7,259,402
Proceeds from the exercise of stock options           2,663
Proceeds from the issuances of notes payable 2,076,000 2,453,973 5,550,403 1,180,000 13,716,167
Repayment of principal on notes payable (550,408)    (1,148,076) (49,950) (4,267,976)
Net cash provided by financing activities 5,448,692 2,453,973 4,402,327 1,130,050 25,006,391
NET INCREASE (DECREASE) IN CASH 1,655,277 418,892 214,611 (60,328) 222,410
Cash at the beginning of the period 222,410 7,799 7,799 68,127   
Cash at the end of the period 1,877,687 426,691 222,410 7,799 222,410
NON-CASH FINANCING AND INVESTING ACTIVITIES:          
Issuance of stock for property and equipment           388,165
Issuance of stock for deposits and other assets           14,885
Conversion of convertible notes payable to series B preferred stock           743,990
Issuance of Series B Preferred stock warrants        140,592 1,653,044
Conversion of accrued interest into notes payable     467,438      
Issuance of common stock warrants    358,003      
Conversion of notes payable and accrued interest to common stock 11,125,167         
SUPPLEMENTAL DISCLOSURES:          
Cash paid for interest $ 188,382 $ 225,574 $ 234,400 $ 4,500 $ 273,786