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EXCEL - IDEA: XBRL DOCUMENT - MIT Holding, Inc.Financial_Report.xls
10-Q - MIT Holding, Inc.form10q.htm
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EX-31.2 - CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER PURSUANT TO RULE 13A-14(A) AND RULE 15D-14(A) - MIT Holding, Inc.ex31-2.htm
EX-32.2 - CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER - MIT Holding, Inc.ex32-2.htm
EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO RULE 13A-14(A) AND RULE 15D-14(A) - MIT Holding, Inc.ex31-1.htm
EX-32.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER - MIT Holding, Inc.ex32-1.htm
v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
OPERATING ACTIVITIES    
Net income (loss) $ (1,030,367) $ 1,467,894
Adjustments to reconcile net income (loss) to cash provided by (used for) operating activities:    
Expense(income) from revaluation of equity-based financial instruments with characteristics of liabilities at fair values (as restated for 2009 - note O) 37,429 (46,935)
Depreciation and amortization 29,997 29,997
Issuance of common stock for services    165,640
Provision for doubtful accounts 165,000 206,000
Amount due from lender    50,000
Changes in operating assets and liabilities:    
Receivables 503,128 439,033
Inventories (44,416) 36,854
Prepaid expenses 433 30,338
Employee advances (7,505) 4,237
Accounts payable and accrued expenses (72,519) (419,996)
Cash provided by operating activities (418,820) 1,963,062
INVESTING ACTIVITIES    
Issuance of stock for acquisition 461,906 1,074,000
Capital expenditures    (10,048)
Net cash used for investing activities 461,906 1,063,952
FINANCING ACTIVITIES    
Note receivable for disposition of MITRX operations    (2,797,281)
Repayment of debt (75,307) (103,791)
Net cash used for financing activities (75,307) (2,901,072)
NET INCREASE (DECREASE) IN CASH (32,221) 125,942
CASH BALANCE BEGINNING OF PERIOD 52,569 177,620
CASH BALANCE END OF PERIOD 20,348 51,678
Supplemental Disclosures:    
Interest 150,001 252,229
Taxes      
Non- cash Financing Activities:    
Conversion of Accounts Payable to Fixed Rate Term Note due to Cardinal Health    252,229
Conversion of Convertible Preferred Stock to Common Stock