Annual report pursuant to Section 13 and 15(d)

Supplemental Cash Flow Information

v2.4.1.9
Supplemental Cash Flow Information
 12 Months Ended
Dec. 31, 2014
Notes  
Supplemental Cash Flow Information

12.  SUPPLEMENTAL CASH FLOW INFORMATION

 

 

For the year

ended

December 31,

2014

 

For the year

ended

December 31,

2013

Cash paid for interest

$

194,447

 

$

107,913

Cash paid for income taxes

$

132

 

$

100

Series C Dividend payable in accrued expenses

$

--

 

$

22,668

Series D Dividend payable in accrued expenses

$

45,590

 

$

44,018

 

 

 

 

 

 

Non-Cash investing and financing transactions

 

 

 

 

 

Repayment of unsecured notes payable and accrued interest with issuance of common shares

$

2,506,982

 

$

--

Repayment of senior secured notes payable with issuance of Series D preferred shares

$

--

 

$

749,982

Financing the purchase of equipment under a 4 year loan agreement

$

49,204 

 

$

--

Financing the purchase of equipment under a 5 year loan agreement

$

--

 

$

83,507

Deemed dividend and inducement premium on conversion of Series D preferred shares to common shares

$

1,332,376

 

$

--

Beneficial conversion feature on warrants issued in conjunction with Series D preferred shares

$

51,110   

 

$

176,729