Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v2.3.0.15
Consolidated Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,562,000) $ (2,333,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of intangible assets 20,000 21,000
Stock compensation expense for options and warrants issued to employees and non-employees 126,000 569,000
Issuance of shares for services 1,597,000 0
Amortization of debt discounts 306,000 369,000
Change in value of warrant and derivative liabilities (783,000) (59,000)
Changes in operating assets and liabilities:    
Prepaid expense and other current assets (10,000) (78,000)
Accounts payable and accrued expenses 667,000 235,000
Net cash used in operating activities (639,000) (1,158,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the exercise of options and warrants 14,000 46,000
Proceeds from notes payable 621,000 0
Repayment of notes payable (50,000) 0
Net cash provided by financing activities 585,000 46,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (54,000) (1,112,000)
CASH AND CASH EQUIVALENTS - Beginning of period 54,000 1,293,000
CASH AND CASH EQUIVALENTS - End of period $ 0 $ 181,000