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

Consolidated Statements of Cash Flows (Unaudited)

v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities    
Net income (loss) $ (3,611,312) $ 395,612
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Bad debt expense 25,000 33,342
Depreciation & Amortization 372,002 249,473
Stock based compensation 1,950,000   
Changes in assets and liabilities:    
Account receivable-trade (430,999) (1,140,380)
Inventories (791,677) (776,088)
Prepaid expenses and other current assets (16,933) 25,810
Deferred taxes      
Accounts payable 1,753,882 130,432
Accrued expenses and other current liabilities 709,051 695,503
Net cash used in operating activities (40,986) (386,296)
Cash flows from investing activities    
Purchase of property and equipment (157,568) (352,438)
Cash acquired on business combination 585,720   
Net cash provided by (used in) investing activities 428,152 (352,438)
Cash flows from financing activities    
Proceeds from convertible debt 2,750,000   
Payment of deferred financing costs (150,364)  
Repayment of borrowings from noteholders (2,453,341) (94,105)
Advance from (payment to) shareholder (3,211) 376,640
Net cash provided by financing activities 143,084 282,535
Net increase (decrease) in cash and cash equivalents 530,250 (456,199)
Cash and cash equivalents, beginning of period 251,475 630,462
Cash and cash equivalents, end of period 781,725 174,263
Supplemental disclosures of cash flow information:    
Interest paid $ 319,872 $ 176,181