Quarterly report pursuant to sections 13 or 15(d)

Statements of Cash Flows

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Statements of Cash Flows (USD $)
 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash Flows from Operating Activities:    
Net loss for the period $ (109,705) $ (242,516)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Depreciation expense 8,553 8,873
Amortization expense 809,041 16,331
Provision for bad debts 15,000 18,000
Share-based compensation 88,250 12,000
Gain on settlement (50,000)   
Amortization of debt discount 52,158   
Changes in Assets and Liabilities    
(Increase) Decrease in accounts receivable (121,938) 16,406
Decrease (Increase) in miscellaneous receivable 56,505 (84,883)
(Increase) in prepaid expenses (14,258) (44,416)
(Increase) in inventory (26,754) (22,282)
Increase (Decrease) in accounts payable 36,020 (6,889)
Increase (Decrease) in accrued expenses and taxes 42,763 57,936
Increase (Decrease) in accrued interest - related party    (25,973)
Increase (Decrease) in deferred revenue 86,411 (8,074)
Net Cash Provided By (Used in) Operating Activities 872,046 (305,487)
Cash Flows from Investing Activities:    
Acquisition of property and equipment    (9,368)
(Increase) in products leased and held for lease    (12,872)
Decrease in other assets 1,812 1,812
(Increase) in note receivable (7,382)   
Payments received on note receivable    7,471
Net Cash Provided By (Used in) Investing Activities (5,570) (12,957)
Cash Flows from Financing Activities:    
Principal payments on notes payable - related party (469) (102,887)
Collection of stock subscription receivable    6,116
Principal payments on note payable (858,986) (54,490)
Proceeds from issuance of common stock    200,000
Net Cash Provided By (Used in) Financing Activities (859,455) 48,739
Net Increase (Decrease) in Cash and Cash Equivalents 7,021 (269,705)
Cash and Cash Equivalents - Beginning of Period 200,128 444,434
Cash and Cash Equivalents - End of Period 207,149 174,729
Supplemental Cash Flow Information:    
Cash paid for interest 38,487 21,505
Cash paid for income taxes