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Post-effective amendment to a registration statement that is not immediately effective upon filing

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 3 Months Ended 12 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:        
Net loss $ (948,871) $ (1,789,766) $ (6,010,734) $ (2,135,573)
Less income from discontinued operations (18,664) 127,146 136,310 457,566
Loss from continuing operations (930,207) (1,916,912) (6,147,044) (2,593,139)
Adjustments to reconcile net loss to net cash used in operating activities:        
Bad debt expense 22,000 32,955 133,907 21,200
Receivable collateral valuation service       502,315   
Amortization of debt issuance costs       266,473   
Gain on disposal of property and equipment    (5,879) (5,879)   
Depreciation and amortization 120,357 89,749 397,923 264,082
Loss on settlement of accrued interest       3,339   
Issuance of convertible notes in exchange for services rendered       38,175 22,000
Stock-based compensation 117,847 66,104 347,657   
Common shares and warrants issued for services rendered       113,000   
Changes in operating assets and libilities, net of effects of acquisition:        
Accounts receivable (140,344) (20,524) (327,524) 468,424
Accounts receivable, secured - related party          7,376
Prepaid expenses 34,950 (22,372) (89,265) (97,474)
Other current assets 69,000    (68,790) (210)
Other assets       (18,622)   
Accounts payable 42,613 622,808 (186,701) 390,628
Accrued expenses 21,468 125,867 252,771 (123,338)
Deferred rent 6,889 (1,073) (4,291) (2,324)
Deferred revenue 105,655 120,508 200,846 (36,555)
Other current liabilities (69,000)    69,000   
Net cash used in operating activities (598,772) (908,769) (4,522,710) (1,679,330)
Cash flows from investing activities:        
Cash acquired as part of merger    337 337 3,200
Purchases of property and equipment (139,108) (138,183) (479,846) (1,060,887)
Purchases of courseware    (3,200) (25,300) (54,090)
Increase in restricted cash (139) (105,865) (264,992)   
Advances to officer for note receivable          (388,210)
Proceeds received from officer loan repayments    150,000 150,000 238,210
Net cash used in investing activities (139,247) (96,911) (619,801) (1,261,777)
Cash flows from financing activities:        
Proceeds from (repayments on) line of credit, net 250 (5,769) 16,785 (10,284)
Proceeds from issuance of common shares and warrants, net 519,370    3,025,236   
Principal payment on notes payable          (30,871)
Proceeds received from issuance of convertible notes and warrants    150,000 1,706,000 255,000
Proceeds from related party for convertible notes    300,000 600,000 73,000
Disbursemenents for debt issuance costs       (266,473)   
Proceeds from issuance of Series A, D and E preferred stock          3,469,985
Payments for stockholder rescissions          (165,000)
Proceeds from note payable       22,000   
Disbursements to purchase treasury shares       (202,000) (761,200)
Net cash provided by financing activities 519,620 444,231 4,901,548 2,830,630
Cash flows from discontinued operations:        
Cash flows from operating activities 120,505 41,372 51,599 582,241
Net cash provided by discontinued operations 120,505 41,372 51,599 582,241
Net increase (decrease) in cash and cash equivalents (97,894) (520,077) (189,364) 471,764
Cash and cash equivalents at beginning of year 577,238 766,602 766,602 294,838
Cash and cash equivalents at end of year 479,344 246,525 577,238 766,602
Supplemental disclosure of cash flow information:        
Cash paid for interest 1,284 2,431 273,718 34,804
Cash paid for income taxes            
Supplemental disclosure of non-cash investing and financing activities:        
Conversion of all preferred shares into common shares    3,469,985 3,469,985   
Conversion of convertible notes payable into common shares       1,775,825   
Issuance of stock options to officers to settle accrued payroll       238,562   
Conversion of loans payable to convertible notes payable    200,000 200,000   
Issuance of common shares and warrants to settle accrued interest       70,654   
Issuance of stock options to officers to settle note payable       22,000   
Liabilities assumed in recapitalization    21,206 21,206   
Settlement of notes payable by disposal of property and equipment    15,151 15,151   
Issuance of convertible notes payable to pay accounts payable       11,650   
Conversion of convertible notes payable into Preferred Series B shares          $ 350,000