Annual report pursuant to section 13 and 15(d)

16. Supplemental Disclosure of Cash Flow Information

v2.4.0.8
16. Supplemental Disclosure of Cash Flow Information
12 Months Ended
Dec. 31, 2013
Notes to Financial Statements  
16. Supplemental Disclosure of Cash Flow Information

Supplemental cash flow information for the years ended December 31, 2013 and 2012 is as follows:

 

    2013     2012  
Supplemental disclosure of cash flow information:            
Cash paid for interest   $ 1,912,283     $ 355,887  
Supplemental schedule of non-cash investing and financing activities:                
Conversion of notes payable - related parties and accrued expenses                
to common stock   $ 1,003,233     $ 160,000  
Transfer of restricted cash in satisfaction of accounts payable   $ 274,048     $ 274,048  
Equipment financing obligation   $ 359,675     $ 232,066  
Conversion of notes payable - related parties and accrued expenses                
to preferred stock   $ 2,052,000     $ 834,000  
Preferred stock converted into common stock   $ 6,027,750     $ -  

 

The following table represents cash paid, common stock issued and liabilities assumed for the acquisition of the Broadvox Assets in 2013 and of NBS in 2012 (see note 3):

 

    2013     2012  
Fair value of assets acquired   $ 34,139,636     $ 22,858,244  
Cash paid     (32,108,450 )     (17,750,000 )
Debt issued     -       (600,000 )
Common stock issued     -       (1,250,000 )
Liabilities assumed   $ 2,031,186     $ 3,258,244