|
Supplemental cash flow information for the years ended December
31, 2012 and 2011 is as follows:
| |
|
|
|
|
|
2012 |
2011 |
| Supplemental disclosure of cash flow information: |
|
|
|
|
| Cash paid for interest |
|
|
|
|
$ 355,887 |
$ 121,566 |
| Supplemental schedule of non-cash investing and financing activities: |
|
|
| Conversion of notes payable - related parties and accrued expenses |
|
|
| |
to common stock |
|
|
|
|
$ 160,000 |
$ 388,809 |
| Conversion of notes payable - non related parties to common stock |
$ - |
$ 300,000 |
| Transfer of restricted cash for satisfaction of security deposit |
|
$ - |
$ 240,391 |
| Transfer of restricted cash in satisfaction of accounts payable |
|
$ 274,048 |
$ - |
| Non-cash financing of security deposit |
|
|
|
$ - |
$ 188,000 |
| Transfer from escrow payable to common stock |
|
|
$ - |
$ 80,000 |
| Equipment financing obligation |
|
|
|
$ 232,066 |
$ - |
| Conversion of notes payable - related parties and accrued expenses |
|
|
| |
to preferred stock |
|
|
|
|
$ 834,000 |
$ - |
| Preferred stock converted into common stock |
|
|
$ - |
$ 2,500,000 |
The following table
represents cash paid, common stock issued and liabilities assumed for the acquisition of NBS (see note 4):
| Fair value of assets acquired |
$ 22,858,244 |
| Cash paid |
|
(17,750,000) |
| Debt issued |
|
(600,000) |
| Common stock issued |
(1,250,000) |
| Liabilities assumed |
$ 3,258,244 |
|