Quarterly report pursuant to Section 13 or 15(d)

Statement of Cash Flows (Unaudited)

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Statement of Cash Flows (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net loss $ (2,777,518) $ (1,186,660)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 35,370 33,081
Stock-based compensation 609,987 385,031
Issuance of common stock for consulting services 95,700 81,195
Changes in operating assets and liabilities:    
Accounts receivable 99,786 16,463
Inventory (62,331) (148,430)
Prepaid expenses and other current assets 24,315 (62,795)
Accounts payable (75,424) 69,991
Accrued expenses (72,513) 25,021
Net cash used in operating activities (2,122,628) (787,103)
Cash flows from investing activities:    
Purchase of property and equipment (6,510) (2,451)
Net cash used in investing activities (6,510) (2,451)
Cash flows from financing activities:    
Proceeds from issuance of common stock upon option exercises 500   
Proceeds from issuance of common stock and common stock warrants 250,000 250,000
Net cash provided by financing activities 250,500 250,000
Net decrease in cash and cash equivalents (1,878,638) (539,554)
Cash and cash equivalents, beginning of period 3,387,428 552,315
Cash and cash equivalents, end of period 1,508,790 12,761
Supplemental disclosure of cash flow information:    
Cash paid during the period for:Interest      
Cash paid during the period for:Income taxes 3,000   
Non-cash financing activities    
Issuance of common stock for stock subscription received in 2013 250,000   
Value of common stock issued to settle accrued liabilities    $ 14,000