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

Consolidated Statements of Cash Flows

v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:    
Net loss $ (1,103,390) $ (1,011,565)
Adjustments to reconcile net loss to net cash used in operating activities:    
Other than temporary decline in value of available-for-sale securities 147,973 40,386
Bad debt expense - related party 750 24,907
Non-controlling interest (5,426) (18,353)
Consulting and other services rendered in exchange for investment securities (1,500) (33,000)
Depreciation and amortization 87,617 11,079
Equity in (earnings) loss of investments 76,113 (58,337)
Asset impairment 0 250,000
Common stock issued for services 74,573 49,375
(Gain) loss on sale of investments (19,991) (106,035)
Beneficial converstion feature of convertible notes payable 0 56,660
Amortization of warrants 35,247 0
(Increase) decrease in amounts due from affiliate (54,217) (46,547)
(Increase) decrease in accounts receivable (73,830) (4,258)
(Increase) decrease in prepaid expenses and other assets (168,393) 0
(Increase) decrease inventory 5,988 0
Increase (decrease) in accounts payable and accrued expenses (58,779) 89,807
Increase (decrease) in income taxes payable 14,608 0
Increase (decrease) in deferred revenue (1,750) (19,083)
Advance from related parties for working capital 0 14,650
Net cash used by operating activities (1,044,407) (760,314)
Cash flows from investing activities:    
Proceeds from sale of investments 190,325 281,765
Investment distribution 8,140 16,137
Purchase of investments (1,285,500) (26,334)
Acquisition of subsidiaries (205,000) 0
Purchase of property and equipment (388,109) (4,517)
Treasury stock proceeds (acquired) 26,400 (680)
Deposit made for investment 0 (20,000)
Net cash provided (used) by investing activities (1,653,744) 246,371
Cash flows from financing activities:    
Proceeds from sale of common stock 500 0
Proceeds from sale of common stock warrants, net 20,608 0
Loan proceeds 2,790,000 541,000
Loan repayment (7,036) (4,500)
Loans to related parties 0 (48,924)
Loan from related party 0 70,000
Net cash provided by financing activities 2,804,072 557,576
Net increase in cash and cash equivalents 105,921 43,633
Cash and cash equivalents, beginning of year 46,007 2,374
Cash and cash equivalents, end of year 151,928 46,007
Supplemental cash flow information:    
Interest 98,837 31,999
Income taxes 0 0
Non-cash investing and financing activities:    
Common stock issued for amounts due related party 0 58,790
Common stock issued for accounts payable 0 17,500
Reclassification of investment accounted for under the cost method as available-for-sale security 0 100,000
Due to related party exchanged for convertible note payable 25,000 0
Convertible notes payable exchanged for common stock 711,500 0
Accrued interest exchanged for common stock 10,000 0
Investment contributed byt the Company's CEO 125,331 0
Common stock issued for prepaid consulting contract 44,850 0
Acquisition of subsidiaries:    
Current assets, excluding cash and cash equivalents 93,638 0
Property and equipment and intangible assets 2,651,197 0
Total assets excluding cash and cash equivalents 2,744,835 0
Liabilities assumed 630,369 0
Non-controlling interest 1,647,710 0
Prior investment of the Company 261,756 0
Acquisition of subsidiaries 2,523,259 0
Purchase price, net assets acquired - cash paid $ 205,000 $ 0