Quarterly report pursuant to Section 13 or 15(d)

Statement of Cash Flows

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Statement of Cash Flows (USD $)
 6 Months Ended 29 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
CASH FLOW FROM OPERATING ACTIVITIES:      
Net Loss for the Period $ (418,803) $ (1,114,669) $ (2,880,779)
Adjustments to reconcile net loss to net cash used by operating activities:      
Shares Issued for Services 25,080 956,596 1,826,307
Depreciation and Amortization 5,216 1,129 10,057
Contributed Services-Officers   9,344 103,400
Interest Expense on Shareholder loan 164   309
Changes in Operating Assets and Liabilities:      
Decrease (Increase) in Prepaids (4,320) 389 (24,804)
Increase in Deposits     (10,610)
Increase (Decrease) in Accounts Payable 44,023 (725) 81,589
Increase in Accrued Expenses 160,022 135,000 426,022
Increase in Other Assets (5,188) 0 (5,188)
Increase in Interest Payable 3,225 2,850 14,175
Net Cash (Used) in Operating Activities (190,581) (10,086) (459,522)
CASH FLOW FROM INVESTING ACTIVITIES:      
Purchase of Property and Equipment (48,650)   (88,686)
Net Cash Used by Investing Activities (48,650)   (88,686)
CASH FLOW FROM FINANCING ACTIVITIES:      
Bank Overdraft   (24)  
Proceeds from Issuance of Stock 297,500   532,500
Proceeds from Loan from Shareholders   732 10,332
Payments on Loan from Shareholders   (622) (4,862)
Proceeds from Notes Payable 14,067 10,000 121,567
Payments on Notes Payable (6,165)   (6,165)
Net Cash Provided by Financing Activities 305,402 10,086 653,372
Net Increase in Cash 66,171   105,164
Cash at Beginning of Period 38,993    
Cash at End of Period 105,164   105,164
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid during the year for Interest $ 184   $ 184