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 $)
9 Months Ended 12 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:        
Net earnings (loss) $ (496,037) $ (494,397) $ (1,011,565) $ (813,696)
Adjustments to reconcile net earnings (loss) to net cash used in operating activities:        
Other than temporary decline in available-for-sale securities 147,973 40,386 40,386 342,259
Depreciation 7,573 8,281 11,079 11,481
Equity in (earnings) loss of investments 9,256 (42,850) (58,337) (23,000)
Asset impairment     250,000 50,000
Beneficial conversion feature of convertible notes payable 0 49,994 56,660 0
Amortization to interest expense of value of warrants 12,588 0    
Common stock issued for services 29,723 0 49,375 0
Investment received in exchange for management services 0 (33,000) (33,000) (150,000)
Realized (gains) losses from sales of investments (19,991) (149,350) (106,035) (58,697)
Bad debt expense 750 0 0 0
Bad Debt Expense Related Party     24,907 0
Non-controlling interest (1,376) (430) (18,353) 0
Change in other assets and liabilities:        
Expense previously deferred acquisition costs     0 279,050
(Increase) decrease in amounts due from affiliate     (46,547) (24,907)
(Increase) decrease in accounts receivable (62,410) (2,482) (4,258) (750)
(Increase) decrease in prepaid expenses and other assets (14,507) 2,500 0 (20,745)
Increase (decrease) in accounts payable and accrued expenses (53,054) 44,163 89,807 26,404
Advances from (repayment to) related parties (38,883) 3,174 14,650 100,291
Increase (decrease) in deferred revenue (1,750) (16,459) (19,083) (354,167)
Net cash used in operating activities (480,145) (590,470) (760,314) (636,477)
Cash flows from investing activities:        
Purchase of fixed assets 0 (3,628) (4,517) (7,446)
Purchase of investments (877,228) (26,334) (26,334) (94,000)
Purchase of treasury stock 0 (680) (680) 0
Deposit made for investment     (20,000) 0
Proceeds from sale of treasury stock 26,401 0    
Distributions from equity investments 8,140 11,833 16,137 64,371
Proceeds from sale of investments 190,325 182,710 281,765 685,197
Net cash provided by (used in) investing activities (652,362) 163,901 246,371 648,122
Cash flows from financing activities:        
Proceeds from sale of common stock warrants, net 20,608 0 0 76,578
Loan repayment (5,251) (4,500) (4,500) (500,000)
Loan proceeds 1,295,000 441,000 541,000 400,000
Loans to related parties     (48,924) 0
Loan from related party     70,000 0
Net cash provided by financing activities 1,310,357 436,500 557,576 (23,422)
Net increase (decrease) in cash and cash equivalents 177,850 9,931 43,633 (11,777)
Cash and cash equivalents, beginning of period 46,007 2,374 2,374 14,151
Cash and cash equivalents, end of period 223,857 12,305 46,007 2,374
Supplemental cash flow information:        
Interest 85,176 20,139 31,999 19,668
Income taxes 0 0 0 0
Non-cash investing and financing activities:        
Common stock issued for amounts due related party     58,790 0
Investments received for management consulting contracts 0 33,000    
Common stock issued for accounts payable     17,500 0
Due to related party exchanged for convertible note payable 25,000 0    
Accrued interest paid with increase in note payable     0 12,500
Convertible notes payable exchanged for common stock 711,500 0    
Reclassification of trading security as available-for-sale security     0 126,000
Accrued interest exchanged for common stock 10,000 0    
Reclassification of investment accounted for under the cost method as available-for-sale security     100,000 275,000
Common stock issued for loan from related party 0 58,790    
Investments acquired as compensation for management agreements     0 525,000
Investment exchanged for another investment 0 124,573    
Exchange of oil and gas property investment for equity securities classified as trading securities     0 126,000
Investment contributed by the Company's CEO 125,331 0    
Deposit transferred to investment accounted for using the equity method     0 20,000
Common stock issued for prepaid consulting contract $ 44,850 $ 10,000