Quarterly report pursuant to sections 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net loss $ (281,606) $ (605,536)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation 1,417 278
Amortization of patents 453,647 17,547
Amortization of prepaid expense in connection with the issuance of common stock issued for prepaid services 181,564   
Stock based compensation on warrants 10,394 49,197
Stock based compensation on options granted 488,669 170,911
Changes in operating assets and liabilities    
Accounts receivable (10,000)   
Assets of discontinued operations - current portion    28,750
Prepaid expenses (8,015) 9,667
Accounts payable and accrued expenses 964,297 96,011
Net cash provided by (used in) operating activities 1,800,367 (233,175)
Cash flows from investing activities:    
Purchase of property and equipment    (10,000)
Proceeds received from the sale of marketable securities    817,482
Capitalized cost related to improvements of real estate property (discontinued operations)    (12,000)
Net cash provided by investing activities    795,482
Net increase in cash 1,800,367 562,307
Cash at beginning of period 3,610,262 2,354,169
Cash at end of period 5,410,629 2,916,476
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest    230
Income taxes