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EXCEL - IDEA: XBRL DOCUMENT - MedPro Safety Products, Inc.Financial_Report.xls
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EX-32.2 - SECTION 906 CERTIFICATION BY CFO - MedPro Safety Products, Inc.ex322_63011x10q01.htm
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STATEMENT OF CASH FLOWS Statement (USD $)
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash Flows From Operating Activities    
Net (loss) $ (5,632,791) $ (6,926,900)
Adjustments to reconcile net (loss) to net cashflows from operating activities:    
Depreciation 119,322 73,604
Amortization 498,737 273,429
Loss on disposal of assets 144,114   
Share based compensation 201,297 3,911,270
Change in fair value of warrant (derivative liabilities) (186,573) (142,075)
Changes in operating assets and liabilities    
Accounts receivable and accrued interest (463,283) 13,450
Inventory    (26,720)
Other current assets (34,798) (4,722)
Accrued interest payable    2,410
Accounts payable and accrued expenses (305,889) 161,045
Net cash flows from operating activities (5,659,864) (2,665,209)
Cash Flows From Investing Activities    
Purchases of property, equipment and intangibles (1,056,505) (62,113)
Restricted cash-Interest Reserve 1,810,157   
Net cash flows from investing activities 753,652 (62,113)
Cash Flows From Financing Activities    
Technology transfer payments    (250,000)
Repayments on bank borrowings    (884,784)
Proceeds from notes payable to and advances from shareholders    2,328,382
Senior Note funds released from escrow 7,870,000   
Repurchases of common shares (332,421) (203,051)
Cash Flows From Financing Activities 7,537,579 990,547
Net increase / (decrease) in cash 2,631,367 (1,736,775)
Cash at the beginning of the period 8,315,644 4,072,443
Cash at the end of the period 10,947,011 2,335,668
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 2,100,000 79,044
Non-Cash Activity    
Non-cash portion of derivative liabilities associated with warrants $ 186,573 $ 823,858