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CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)
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3 Months Ended | |
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Mar. 31, 2015
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Mar. 31, 2014
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| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net loss | $ (644,606)us-gaap_NetIncomeLoss | $ (1,344,276)us-gaap_NetIncomeLoss |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation expense | 29,089us-gaap_Depreciation | 21,775us-gaap_Depreciation |
| Amortization of intangible asset | 89,285us-gaap_AmortizationOfIntangibleAssets | 89,285us-gaap_AmortizationOfIntangibleAssets |
| Amortization of debt discount | 14,499us-gaap_AmortizationOfDebtDiscountPremium | 21,086us-gaap_AmortizationOfDebtDiscountPremium |
| Impairment of goodwill | 390,659us-gaap_GoodwillImpairmentLoss | |
| Non-cash expenses exchanged for services | 25,500us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionCashFlowEffects | |
| Stock-based compensation | 35,552us-gaap_ShareBasedCompensation | 129,408us-gaap_ShareBasedCompensation |
| Changes in operating assets and liabilities | ||
| (Increase) decrease in receivables | (87,269)us-gaap_IncreaseDecreaseInReceivables | (1,145)us-gaap_IncreaseDecreaseInReceivables |
| (Increase) decrease in prepaid and other current assets | 89,434us-gaap_IncreaseDecreaseInPrepaidExpensesOther | (7,056)us-gaap_IncreaseDecreaseInPrepaidExpensesOther |
| (Increase) decrease in inventory | 24,889us-gaap_IncreaseDecreaseInInventories | (119,236)us-gaap_IncreaseDecreaseInInventories |
| (Increase) decrease in consigned inventory | (124,448)us-gaap_IncreaseDecreaseInInventoriesAndOtherOperatingAssets | |
| Increase (decrease) in income taxes payable | 25us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable | 25us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable |
| Increase (decrease) in accounts payable | (12,516)us-gaap_IncreaseDecreaseInAccountsPayable | (23,080)us-gaap_IncreaseDecreaseInAccountsPayable |
| Increase (decrease) in accrued liabilities | (35,363)us-gaap_IncreaseDecreaseInAccruedLiabilities | (143,996)us-gaap_IncreaseDecreaseInAccruedLiabilities |
| Increase (decrease) in deferred revenue | 84,964us-gaap_IncreaseDecreaseInDeferredRevenue | |
| Increase (decrease) in interest payable | 8,877us-gaap_IncreaseDecreaseInInterestPayableNet | (1,187)us-gaap_IncreaseDecreaseInInterestPayableNet |
| Cash used in operating activities | (502,088)us-gaap_NetCashProvidedByUsedInOperatingActivities | (987,738)us-gaap_NetCashProvidedByUsedInOperatingActivities |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchases of property and equipment | 1,399us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | 13,772us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
| Cash from acquisition of business | 3,355us-gaap_ProceedsFromPreviousAcquisition | |
| Cash used in investing activities | (1,399)us-gaap_NetCashProvidedByUsedInInvestingActivities | (10,417)us-gaap_NetCashProvidedByUsedInInvestingActivities |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from issuance of unsecured notes payable | 1,000,000us-gaap_ProceedsFromUnsecuredNotesPayable | |
| Proceeds from issuance of senior secured notes payable | 450,000us-gaap_ProceedsFromSecuredNotesPayable | |
| Repayment of senior subordinated notes payable | 250,000us-gaap_RepaymentsOfSeniorDebt | |
| Proceeds from issuance of common shares, net | 88,000us-gaap_ProceedsFromIssuanceOfCommonStock | |
| Proceeds from issuance of preferred shares, net | 153,996us-gaap_ProceedsFromIssuanceOfConvertiblePreferredStock | |
| Repayment of loan payable | 13,964us-gaap_RepaymentsOfDebt | 10,457us-gaap_RepaymentsOfDebt |
| Cash provided by (used in) financing activities | 524,036us-gaap_NetCashProvidedByUsedInFinancingActivities | 893,539us-gaap_NetCashProvidedByUsedInFinancingActivities |
| Net change in cash and cash equivalents | 20,549us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | (104,616)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
| Cash and cash equivalents, beginning of period | 21,234us-gaap_CashAndCashEquivalentsAtCarryingValue | 186,864us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Cash and cash equivalents, end of period | $ 41,783us-gaap_CashAndCashEquivalentsAtCarryingValue | $ 82,248us-gaap_CashAndCashEquivalentsAtCarryingValue |
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- Details
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- Definition
Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of loss from the write-down of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in interest payable, which represents the amount owed to note holders, bond holders, and other parties for interest earned on loans or credit extended to the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the total amount of inventories and other operating assets not separately disclosed in the statement of cash flows. No definition available.
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- Details
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- Definition
Amount of increase (decrease) of consideration paid in advance for other costs that provide economic benefits in future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the total amount due within one year (or one operating cycle) from all parties, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow from issuance of preferred stocks identified as being convertible into another form of financial instrument, typically the entity's common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Cash inflow representing an adjustment to the purchase price of a previous acquisition. No definition available.
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- Definition
The cash inflow from borrowings supported by a written promise to pay an obligation that is collateralized (backed by pledge, mortgage or other lien in the entity's assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow from borrowings supported by a written promise to pay an obligation that is uncollateralized (where debt is not backed by the pledge of collateral). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations. No definition available.
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- Definition
The cash outflow for a long-term debt where the holder has highest claim on the entity's asset in case of bankruptcy or liquidation during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount by which the statement of cash flows was affected by a transaction in which equity securities were issued to pay for goods or nonemployee services. No definition available.
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