Quarterly report pursuant to sections 13 or 15(d)

Statements of Cash Flows

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Statements of Cash Flows (USD $)
9 Months Ended 37 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Cash flows from operating activities:      
Net loss $ (905,728) $ (541,322) $ (2,119,012)
Adjustments to reconcile net loss to cash used in operating activities:      
Depreciation and amortization 48,526 48,215 123,526
Stock based compensation 161,504 129,414 311,353
Issuance of common stock in exchange for consulting services 53,550 0 98,800
Changes in:      
Inventory (398) (8,015) (19,624)
Prepaid expenses (9,233) (67) (11,647)
Other assets (2,125) 0 (2,125)
Accounts payable 9,947 170,731 351,820
Accrued expenses 33,039 (80,756) 111,536
Net cash used in operating activities (610,918) (281,800) (1,155,373)
Cash flows from investing activities:      
Purchase of property and equipment (7,756) 0 (7,756)
Net cash acquired in acquisition of Boston Therapeutics, Inc. 0 0 8,397
Net cash (used in) provided by investing activities (7,756) 0 641
Cash flows from financing activities      
Proceeds from advances - related parties 40,000 80,000 237,820
Proceeds from issuance of common stock - related party 0 0 21,236
Proceeds from issuance of common stock 522,000 522,997 1,064,997
Net cash provided by financing activities 562,000 602,997 1,324,053
Net increase (decrease) in cash and cash equivalents (56,674) 321,197 169,321
Cash and cash equivalents, beginning of period 225,995 15,193  
Cash and cash equivalents, end of period 169,321 336,390 169,321
Supplemental disclosure of cash flow information:      
Cash paid during the period for:Interest 0 0 0
Cash paid during the period for:Income taxes 0 0 0
Acquisition of Boston Therapeutics, Inc.:      
Fair value of assets acquired 0 0 985,466
Assumed liabilities 0 0 (106,819)
Fair value of common stock issued 0 0 878,647
Subsciption receivable $ 0 $ 8,867 $ 8,867