Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income/(loss) $ 162,000 $ (3,010,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of intangible assets 1,000 9,000
Stock compensation expense for options and warrants issued to employees and non-employees 175,000 421,000
Non-cash interest expense 139,000 0
Amortization of debt discounts 537,000 40,000
Change in value of warrant and derivative liabilities (1,375,000) 356,000
Changes in operating assets and liabilities:    
Other assets (41,000) (92,000)
Accounts payable and accrued expenses 284,000 1,781,000
Net cash used in operating activities (118,000) (495,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of note payable (34,000) 0
Proceeds of short-term borrowings 35,000 408,000
Net cash provided by financing activities 1,000 408,000
Minority Interest 5,000 0
NET DECREASE IN CASH AND CASH EQUIVALENTS (112,000) (87,000)
CASH AND CASH EQUIVALENTS - Beginning of period 123,000 92,000
CASH AND CASH EQUIVALENTS - End of period 11,000 5,000
Supplemental Disclosures:    
Interest paid 0 0
Income taxes paid 0 0
Supplemental non-cash activities    
Issuance of common stock to convert notes payable 251,000 304,000
Issuance of common stock in payment of accrued interest 0 485,000
Issuance of common stock in payment of accounts payable $ 0 $ 480,000