ºÃÉ«TV

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

Condensed Consolidated Statements of Cash Flows (Unaudited)

v2.4.0.6
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
 9 Months Ended 12 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:        
Net loss $ (5,176,376) $ (1,211,011) $ (2,135,573) $ (465,014)
Adjustments to reconcile net loss to net cash (used in) operating activities:        
Provision for bad debts 197,952 16,963 21,200 23,379
Receivable collateral valuation service 502,315 0 0 0
Amortization of debt issuance costs 266,473 0 0 0
Gain on disposal of property and equipment (5,879) 0 0 0
Depreciation and amortization 289,675 177,845 264,082 338,803
Loss on settlement of accrued interest 3,339 0 0 0
Issuance of convertible notes in exchange for service rendered 38,175 22,000 22,000 0
Stock-based compensation 176,671 0 0 0
Changes in operating assets and libilities, net of effects of acquisition:        
Accounts receivable (76,781) 314,588 196,229 (339,313)
Accounts receivable, secured-related party 0 7,376 7,376 9,176
Prepaid expenses 22,796 (171,116) (97,684) 821
Other current assets (20,927) (274) 0 0
Accounts payable 353,216 570,388 780,703 105,793
Accrued expenses 872,572 (246,083) (98,588) 84,802
Deferred rent (3,217) (1,743) (2,324) (358)
Deferred revenue 271,580 131,012 (54,510) 516,992
Settlement payable 0 0 0 (169,403)
Net cash (used in) operating activities (2,288,416) (390,055) (1,097,089) 105,678
Cash flow from investing activities:        
Cash acquired as part of merger 337 3,200 3,200 0
Purchases of property and equipment (6,005) (133,431) (133,431) 0
Purchases of intangible assets (419,295) (789,262) (981,546) (189,905)
Increase in restricted cash (264,832) 0 0 0
Advances to officer for note receivable 0 (238,210) (388,210) 0
Proceeds received from officer loan repayment 150,000 0 238,210 0
Net cash (used in) investing activities (539,795) (1,157,703) (1,261,777) (189,905)
Cash flows from financing activities:        
Proceeds from (repayments in) line of credit, net (17,461) (4,529) (10,284) 6,753
Proceeds from issuance of common shares and warrants, net 2,494,899 0 0 250,500
Principal payment on note payable 0 (4,357) (30,871) (25,399)
Proceeds received from issuance of convertible notes and warrants 1,706,000 255,000 328,000 0
Proceeds from related party for convertible notes 600,000 73,000 0 0
Disbursemenents for debt issuance costs (266,473) 0 0 0
Proceeds from issuance of Series A and D preferred stock 0 3,469,985 3,469,985 0
Repayments of convertible notes payable 0 (25,000) 0 0
Proceeds from note payable 22,000 0 0 0
Disbursements for stockholder rescissions 0 0 (165,000) 0
Disbursements to purchase treasury shares 0 (740,000) (761,200) 0
Net cash provided by financing activities 4,538,965 3,024,099 2,830,630 231,854
Net (decrease) increase in cash and cash equivalents 1,710,754 1,476,341 471,764 147,627
Cash and cash equivalents at beginning of period 766,602 294,838 294,838 147,211
Cash and cash equivalents at end of period 2,477,356 1,771,179 766,602 294,838
Supplemental disclosure of cash flow information:        
Cash paid for interest 273,170 18,329 34,804 15,773
Income taxes paid 0 0 0 0
Supplemental disclosure of non-cash investing and financing activities:        
Conversion of all preferred shares into common shares 3,469,985 0 0 0
Conversion of convertible notes payable into common shares 1,775,825 0 0 0
Conversion of loans payable to convertible notes payable 200,000 0 0 0
Issuance of common shares and warrants to settle accrued interest 70,654 0 0 0
Liabilities assumed in recapitalization 21,206 0 0 0
Settlement of notes payable by disposal of property and equipment 15,151 0 0 0
Issuance of convertible notes payable to pay accounts payable 11,650 0 0 0
Conversion of convertible notes payable into Preferred Series B shares 0 350,000 350,000 0
Recognition of accrual to rescing common shares $ 0 $ 165,000 $ 0 $ 0