Annual report pursuant to section 13 and 15(d)

Statements of Cash Flows

v2.3.0.11
Statements of Cash Flows (USD $)
12 Months Ended 28 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2011
Cash flows from operating activities:      
Net loss $ (827,168) $ (248,295) $ (1,213,284)
Adjustments to reconcile net loss to cash used in operating activities:      
Amortization of intangible assets 64,286 10,714 75,000
Stock based compensation 149,727 122 149,849
Issuance of common stock in exchange for consulting services 45,250 0 45,250
Changes in:      
Inventory (19,447) 221 (19,226)
Prepaid expenses (3,603) 1,189 (2,414)
Accounts payable 295,956 (2,337) 341,873
Accrued expenses (97,196) 121,416 78,497
Net cash used in operating activities (392,195) (116,970) (544,455)
Cash flows from investing activities:      
Net cash acquired in acquisition of Boston Therapeutics, Inc. 0 8,397 8,397
Net cash provided by investing activities 0 8,397 8,397
Cash flows from financing activities      
Proceeds from advances - related party 80,000 69,000 197,820
Proceeds from issuance of common stock - related party 0 11,236 21,236
Proceeds from issuance of common stock 522,997 20,000 542,997
Net cash provided by financing activities 602,997 100,236 762,053
Net increase (decrease) in cash and cash equivalents 210,802 (8,337) 225,995
Cash and cash equivalents, beginning of period 15,193 23,530  
Cash and cash equivalents, end of period 225,995 15,193 225,995
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 0 985,466 985,466
Assumed liabilities $ 0 $ (106,819) $ (106,819)
Fair value of common stock issued 0 878,647 878,647