WOUND MANAGEMENT TECHNOLOGIES, INC. AND SUBSIDIARIES | |||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||
FOR THE THREE MONTHS ENDED MARCH 31, 2011 and 2010 | |||||||||
2011 | 2010 | ||||||||
Cash flows from operating activities: | |||||||||
Net loss from continuing operations | $ | (2,743,921) | $ | (1,244,507) | |||||
Adjustments to reconcile net loss to net cash provided (used) in | |||||||||
operating activities: | |||||||||
Depreciation and amortization | 259,110 | 117,940 | |||||||
Amortization of discounts and deferred costs | 194,014 | 13,655 | |||||||
Stock issued for debt related costs | 405,580 | - | |||||||
Stock issued as payment for services | 112,000 | 70,050 | |||||||
Loss on debt settlement | 1,950,882 | 720,657 | |||||||
Non-cash expenses | 50,347 | 21,019 | |||||||
Changes in assets and liabilities: | |||||||||
(Increase) decrease in accounts receivable | 252,444 | (2,435) | |||||||
(Increase) decrease in inventory | (51,893) | 379 | |||||||
(Increase) decrease in accrued interest receivable - related parties | (15,690) | (15,820) | |||||||
(Increase) decrease in accrued interest receivable | (33,750) | (22,125) | |||||||
(Increase) decrease in prepaids and other assets | 107,150 | 27,549 | |||||||
Increase (decrease) in accrued royalties | (358,323) | 2,125 | |||||||
Increase (decrease) in accounts payable | (230,498) | (29,638) | |||||||
Increase (decrease) in accrued liabilities | 180,071 | (746) | |||||||
Increase (decrease) in accrued interest payable - related parties | 12,165 | 50,437 | |||||||
Increase (decrease) in accrued interest payable | 34,590 | 6,650 | |||||||
Net cash flows provided (used) in operating activities | 124,278 | (284,810) | |||||||
Cash flows from investing activities: | |||||||||
Cash paid in acquisitions | - | (100,000) | |||||||
Purchase of notes receivable - related parties | (2,231,658) | (103,950) | |||||||
Proceeds from notes receivable - related parties | 1,546,120 | 41,413 | |||||||
Net cash flows used in investing activities | (685,538) | (162,537) | |||||||
Cash flows from financing activities: | |||||||||
Net change in overdraft | - | (4,363) | |||||||
Proceeds from notes payable - related parties | 61,500 | 512,587 | |||||||
Payments on notes payable - related parties | (952,268) | (7,050) | |||||||
Proceeds from notes payable | 2,060,000 | 102,500 | |||||||
Payments on notes payable | (537,000) | (153,775) | |||||||
Proceeds from sale of stock | 868,700 | - | |||||||
Proceeds from stock subscriptions payable | 31,000 | - | |||||||
Net cash flows provided by financing activities | 1,531,932 | 449,899 | |||||||
Increase in cash | 970,672 | 2,552 | |||||||
Cash and cash equivalents, beginning of period | 50,835 | - | |||||||
Cash and cash equivalents, end of period | $ | 1,021,507 | $ | 2,552 | |||||
