nav_button

Financials

v2.4.0.6
Balance Sheet (Unaudited) (USD $)
Mar. 31, 2013
Dec. 31, 2012
ASSETS    
Cash $ 384,674 $ 552,315
Accounts receivable 20,686 17,351
Prepaid expenses and other current assets 45,266 9,073
Inventory, net 25,379 16,809
Total current assets 476,005 595,548
Property and equipment, net 9,097 7,075
Intangible assets 744,643 760,714
Goodwill 69,782 69,782
Other assets 2,125 2,125
Total assets 1,301,652 1,435,244
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accounts payable 355,660 294,187
Accrued expenses and other current liabilities 157,716 146,774
Total current liabilities 513,376 440,961
Advances - related party 297,820 297,820
Total liabilities 811,196 738,781
Stockholders' equity:    
Preferred stock, $0.001 par value, 5,000,000 shares authorized, none issued and outstanding      
Common stock, $0.001 par value, 200,000,000 and 100,000,000 shares authorized at March 31, 2013 and December 31, 2012, respectively, 19,291,539 shares issued and outstanding at March 31, 2013 and 18,745,706 at December 31, 2012, respectively 19,291 18,746
Additional paid-in capital 3,835,986 3,375,116
Accumulated deficit (3,364,821) (2,697,399)
Total stockholders' equity 490,456 696,463
Total liabilities and stockholders' equity $ 1,301,652 $ 1,435,244
v2.4.0.6
Statement of Operations (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Income Statement [Abstract]    
Revenue $ 23,336 $ 18,854
Cost of goods sold 47,937 27,595
Gross margin (24,601) (8,741)
Research and development 28,661 51,628
Sales and marketing 81,226 67,180
General and administrative 528,170 124,536
Total operating expenses 638,057 243,344
Operating loss (662,658) (252,085)
Interest Expense 4,764 4,178
Foreign currency loss    1,142
Net loss $ (667,422) $ (257,405)
Net loss per share - basic and diluted $ (0.04) $ (0.02)
Weighted average shares outstanding - basic and diluted 18,880,845 16,223,206
v2.4.0.6
Statement of Cash Flows (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flows from operating activities:    
Net loss $ (667,422) $ (257,405)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 16,500 16,071
Stock based compensation 192,165 73,482
Issuance of common stock in exchange for consulting services 5,250   
Changes in:    
Accounts receivable (3,335) (8,188)
Inventory (8,570) (1,130)
Prepaid expenses and other current assets (36,193) (527)
Accounts payable 61,473 (20,911)
Accrued expenses 24,942 (1,852)
Net cash used in operating activities (415,190) (200,460)
Cash flows from investing activities:    
Purchase of property and equipment (2,451)   
Net cash (used in) provided by investing activities (2,451)   
Cash flows from financing activities:    
Proceeds from issuance of common stock and warrants 250,000   
Net cash provided by financing activities: 250,000   
Net decrease in cash and cash equivalents (167,641) (200,460)
Cash and cash equivalents, beginning of period 552,315 225,995
Cash and cash equivalents, end of period 384,674 25,535
Supplemental disclosure of cash flow information:    
Cash paid during the period for:Interest      
Cash paid during the period for:Income taxes      
Non-cash investing and financing activities    
Value of common stock issued to settle accrued liabilities $ 14,000