Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

v2.4.0.8
CONDENSED STATEMENTS OF CASH FLOWS (USD $)
 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Loss $ (5,344,088) $ (232,972)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 7,903 6,845
Change in accounts receivable and notes receivable reserve 4,534   
Warrants issued with common stock 15,400   
Preferred Stock issued for compensation 200,000   
Impairment of goodwill 4,799,965   
Changes in operating assets and liabilities:    
Accounts receivable (58,409) (13,856)
Inventory 185,708 (91,940)
Prepaid inventory (14,294) (48,065)
Notes receivable    9,235
Deposits 5,000   
Accounts payable 56,488 48,049
Due to officers (500)   
Net cash used in operations (142,293) (322,704)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment    (25,627)
Cash assumed in reverse merger 35   
Net cash used in investing activities 35 (25,627)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of notes payable 29,982   
Payments on notes payable    (100,000)
Proceeds from issuance of notes payable to related parties 44,190   
Payments on notes payable to related parties (15,000)   
Proceeds from issuance of common stock and warrants 80,000 503,250
Net cash provided by financing activities 139,172 403,250
NET CHANGE IN CASH AND CASH EQUIVALENTS (3,086) 54,919
CASH AND CASH EQUIVALENTS, beginning of period 9,139 62,171
CASH AND CASH EQUIVALENTS, end of period 6,053 117,090
SUPPLEMENTAL DISCLOSURE FOR OPERATING ACTIVITES    
Cash paid for interest      
SUPPLEMENTAL DISCLOSURE FOR FINANCING ACTIVITIES    
Warrant expense $ 15,400