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Very interesting move with decent volume. eom
Apples For The Army
Andy Greenberg , 12.21.07, 6:00 AM ET
Given Apple's marketing toward the young and the trendy, you wouldn't expect the U.S. Army to be much of a customer. Lieutenant Colonel C.J. Wallington is hoping hackers won't expect it either.
Wallington, a division chief in the Army's office of enterprise information systems, says the military is quietly working to integrate Macintosh computers into its systems to make them harder to hack. That's because fewer attacks have been designed to infiltrate Mac computers, and adding more Macs to the military's computer mix makes it tougher to destabilize a group of military computers with a single attack, Wallington says.
This past year was a particularly tough one for military cybersecurity. Cyberspies infiltrated a Pentagon computer system in June and stole unknown quantities of e-mail data, according to a September report by the Financial Times. Later in September, industry sources told Forbes.com that major military contractors, including Boeing (nyse: BA - news - people ), Lockheed Martin (nyse: LMT - news - people ), Northrop Grumman (nyse: NOC - news - people ) and Raytheon (nyse: RTN - news - people ) had also been hacked.
The Army's push to use Macs to help protect its computing corps got its start in August 2005, when General Steve Boutelle, the Army's chief information officer, gave a speech calling for more diversity in the Army's computer vendors. He argued the approach would both increase competition among military contractors and strengthen its IT defenses.
Apple (nasdaq: AAPL - news - people ) computers still satisfy only a tiny portion of the military's voracious demand for computers. By Wallington's estimate, around 20,000 of the Army's 700,000 or so desktops and servers are Apple-made. He estimates that about a thousand Macs enter the Army's ranks during each of its bi-annual hardware buying periods.
Military procurement has long been driven by cost and availability of additional software--two measures where Macintosh computers have typically come up short against Windows-based PCs. Then there have been subtle but important barriers: For instance, Macintosh computers have long been incompatible with a security keycard-reading system known as Common Access Cards system, or CAC, which is heavily used by the military.
The Army's Apple program, created after Boutelle's 2005 address, is working to change that. As early as February 2008, the Army is planning to introduce software, developed by Arlington, Texas-based Thursby Software, that will also enable Mac desktops and laptops to use CAC systems--a change that should make it easier to get Macs into the service.
Though Apple machines are still pricier than their Windows counterparts, the added security they offer might be worth the cost, says Wallington. He points out that Apple's X Serve servers, which are gradually becoming more commonplace in Army data centers, are proving their mettle. "Those are some of the most attacked computers there are. But the attacks used against them are designed for Windows-based machines, so they shrug them off," he says.
Apple, which declined to comment, has long argued its hardware is less hackable than comparable PCs. Jonathan Broskey, a former Apple employee who now heads the Army's Apple program, argues that the Unix core at the center of the Mac OS operating system makes it easier to lock down a Mac than a Windows platform.
And Apple's smaller market share has long meant that it didn't attract cybercriminals hoping to wreck the most havoc possible. "If you look at the numbers, you see that malicious software for Macs is very limited," he says. "We used to sell Apples by saying they don't get viruses."
Of course, cyberspooks may be honing their Mac-attacking skills, too. An end-of-year report by Finnish software security company F-Secure highlights the growing number of hackers targeting Apple systems with malicious software, some of which could allow cybercriminals to steal security passwords. In the past two years, until this October, F-Secure found only a small handful of malicious programs targeting Macs. In the past two months, the company has found more than a hundred specimens of Mac-targeted malicious code.
Charlie Miller, a software researcher with Independent Security Evaluators, worries that the Army's diversification plan isn't enough to thwart the bad guys. He sees a two-platform system as a "weakest link" scenario, in which a determined cyber-intruder will seek out the more vulnerable of the two targets. "In the story of the three little pigs, did diversifying their defenses help? Not for the pig in the straw house," he says.
The marketing pitch that Apples are inherently more secure than PCs is also largely a myth, contends Miller, who gained notoriety for remotely hacking the iPhone last August. He points to data gathered by software security firm Secunia, which showed that Apple had to patch nearly five times as many security flaws in its software over the past year as Microsoft (nasdaq: MSFT - news - people ) had to patch in Windows. Apple's Quicktime player alone, he says, was patched 34 times. "I love my Macs, but in terms of security, they're behind the curve, compared to Windows," Miller warns.
But the Army's Jonathan Broskey stands by his claims of Apple's security: He says the high number of patches to Apple software is a good sign--evidence of the large community of developers actively working to tighten Unix programs and eliminate bugs. Nonetheless, like any responsible IT department, he says the Army's Apple program will closely monitor security updates to Mac-specific programs. "The Army's no different from any corporation," he says.
Still, relative to corporate cybersecurity, Lieutenant Colonel Wallington points out, the stakes are much higher. A leaked deployment order, for instance, might reveal the path of a supply truck and the points where it could be sabotaged, he says.
"This is information that affects the lives of soldiers and the civilians we're trying protect," Broskey adds. "It has to be safeguarded."
http://www.forbes.com/home/technology/2007/12/20/apple-army-hackers-tech-security-cx_ag_1221army.html
Looks like when the serious buying comes in the pressure to the upside will be enormous.
Oh, and "hi" everyone!
Just tried purchasing via Scottrade online and was unable too. Had to call in to the branch...
The difference between investing and trading! eom
I agree. Siting at the table with a few million dollars in the bank does not incentivize PTSC/TPL to settle for a less than good amount. It might not be $700M, but I suspect it is sufficient.
Hi SAM...
I can appreciate your trading frustration - hanging on a long time to see what is behind the curtain, and just when you think the curtain is about to be drawn wide, you get the slip again!
I'm not a big supporter of PRs as a promoter of share price. I am a supporter of fundamentals. When the fundamentals are right, the share price takes care of itself. PRs do have their function, but I certainly don't think moving the share price in of itself is it.
By jigetty, I'm very happy with things as they are right now! Sure, there is guessing as to what came in the settlement. However, you KNOW that you will know in April if some liquidity event doesn't occur in the interim.
Everything will be okay regardless of what April brings...
Your point of no trading is correct (of course). However, as I indicated previously, I believe had this settlement been "bad" for PTSC the share price would have been weak.
Let me also posit that I believe any settlement done in the 11th hour and 59th minute is generally favorable to the plaintiff. This was a David and Goliath situation that didn't get to court. David proved he was going all the way AND had tremendous validation from the likes of Intel, AMD, etc.
From my perspective, and of course this is just my uninformed opinion, there is some upside here if the Company can eliminate some of the float and develop a recurring revenue model.
IAMSAM, humh.... tough to please are we? Seriously though, the incredible strength you see in the stock tells the tale of the type of settlement. If you can hold and accumulate over the next couple of months then you might be a very happy camper!
Unless of course an acquisition is in the cards at which time you might not get to April. However, based upon the structure of the IP sharing, I doubt that will happen.
As for licensing agreements, I would certainly say that you will likely see some more. I am publicly on record as saying that the float needs to be lessened and a recurring revenue model needs to be demonstrated before I think you will see that "retirement" rise you may be looking for.
Bottom line for me: This is very good and I've got time to build a bigger position.
This is VERY good! It means that buying on weakness until April will occur. Further, the public notice of curbs to insider buying is an indication to me that this is very bullish.
EZ, sounds good! eom
! me feeling good! Eom
hey eamonnshute, as hard as it is to believe...
... I still have an operational Mac Classic. Bought stock around then too and really added around $3 in the early '90's. Call me stupid because Apple was "dead" according to the pundits ... who are all buying now. The question now is, will Apple ever join the TCG? BTW, rumor has over 2M macs sold this closing Qtr...
IAMSAM, you are doing...
...great things. Speaking for myself, I appreciate your input because, as you know, I've got my hands full with another exciting project. I read your postings "religiously."
AT&T strikes at stupidity again...
AT&T is cruising for a bruising
But then the Baby Bells are gonners, init?!?
By: Nick Farrell Monday 10 September 2007, 07:53
A HUMAN called Jay Levy says he has been stung by Apple's iPhone pact with AT&T after he took an Iphone on a Mediterranean cruise.
They didn't use their phones, but when they got back they had a 54-page monthly bill of nearly $4,800 from AT&T Wireless.
The problem was that their three Iphones were racking up a bill for data charges using foreign phone charges. The Iphone regularly updates e-mail, even while it's off, so that all the messages will be available when the user turns it on.
Levy is fuming, claiming that Apple and AT&T were acting like a bank which has automatic access to your ATM machine and is siphoning money out during all times of the day and night.
Normally it does not cost US users for domestic data transfers, but the Iphone's international plan in 29 countries, mostly in Europe, costs $24.99 for 20 megabytes.
Apple spokeswoman Natalie Kerris points out in its terms and conditions that it will cost an arm an a leg to use an Iphone out of the US even if no services are intentionally used.
So reckons News Day. µ
http://theinquirer.net/?article=42235
AT&T should be ashamed of their scam. I have not even received a return response to my priority mail letter to the Director of Customer Service. I loved T-Mobile and only left because of the iPhone and the syncing. AT&T stole money from me and my family. This is not something I will forget. As soon as I can unplug from their scam I am gone. What a business opportunity to create conversion switch kits!
Did anyone attend the Seagate event for bloggers in NYC yesterday?
Unfortunately, Steve can't apologize for AT&T. They (AT&T) never even responded to my letter sent express about their $1K bill to me for data transfer rates while in Singapore.
My thoughts on the gPhone are simply this...
Apple and Google merge.
me heard rumor that...
Lenovo is considering a buy of Seagate.
OT, Mac USB interface...
Does anyone have a reputable recommendation for programmer that can do USB interfacing?
Of course the solution is competition! Open up the networks to these devices and this non-sense will settle or the carriers that shoot straight will bury the crooked ones.
Yofal, here is the letter I'm sending to AT&T....
AT&T Customer Care
Attn: Director
5020 Ash Grove Dr.
Springfield, IL 62711
Dear Director, 13 August 2007
At the end of June 2007, I was happy to purchase my new iPhone and join the AT&T network. I was a Sprint customer for over 5 years previously with a Treo.
However, I am now disappointed.
On 06 July 2007, while traveling by car from Atlanta, GA to Cincinnati, OH to catch a flight to Singapore, I called AT&T to add International calling to my plan. I did this because a colleague recommended it to me. After spending nearly 30 minutes on the phone with the representative who asked all kinds of questions regarding my credit history to prove my identity to add the service, the representative told me that my new plan discounted my minutes while traveling internationally as $1.99 per minute.
Today I received my bill. It is almost $900!
I then called customer care and Ms. Stephanie Smith tried to help me. She informed me that the plan I should have gotten was the Global Data plan. With the international plan, the data roaming charge was not explained to me. Stephanie assured me that it was “in my contract.” She also informed me that I could not make payments on the full bill until I was an AT&T customer for at least 6 months.
I am disappointed that the right plan was not recommended to me. Sitting by the side of the road means that someone on the AT&T side needed to take the initiative and offer me the correct plan for me needs. Secondly, I think that locking me into a 2-year contract, but not allowing me to make payments until after being a customer for 6 months was certainly hurtful.
I believe that AT&T should 1) offer the correct products to match the needs of its customers, 2) be more forthright about the charges beyond just the lengthy contract, and 3) be more equal with customer/vendor relationship.
Now that I have spent over $700 on an iPhone and a 2-year contract I certainly cannot leave AT&T. I am disappointed that this business relationship has started so unpleasantly for me. I hope you will give consideration to the nature of the relationship and what appear to be problems with helping facilitate the customer/vendor relationship.
Sincerely,
[Mr. Snowed]
Now I'm really...
... disappointed in AT&T. After talking to a rep it turns out that the 30 minute call that setup my International discount plan at the beginning of July was the incorrect plan for my needs. It seems I needed Global Data plan.
my AT&T horror story...
I just got my bill from AT&T. I have a 4K minute plan. I used just under 2K minutes. However, due to 113 international minutes during an international trip with the AT&T discount plan of $1.99 per minute, PLUS 18,766 KB of data roaming (a charge I wasn't aware of), for $428.95, I got a bill of over $900 for the month!!!
And no more dividends. Buy back shares! eom
MaynardG, maybe these pics will help?
http://www.anandtech.com/printarticle.aspx?i=3026
I have to say that the single reason I'm not going to buy the iPhone has absolutely nothing to do with the iPhone per se.
I went into an AT&T store a couple of weeks before the iPhone pandamonium. The attitude of the clerks and manager about syncing phones with the .mac was disdainment. Now they are tasked with selling the iPhone?
Further, I tried calling into AT&T wireless using the telephone number on their website. It took 5 minutes of hold and passed before I could get a person to chat with.
I hope the AT&T poor service (and that is what it is) doesn't drag the iPhone down, but pre-iPhone due diligence of AT&T wireless does not support a positive user experience. If they can't do it right before the iPhone, how are they going to do it right after the overwhelming run on the iPhone?
Snackman, now you're talking...
http://www.osxbook.com/book/bonus/chapter10/tpm/
OT - iPhone to have a TPM...
... in the future?
And I believe it is not accessible to those with disabilities. I like that universal design might be in the making here.
First, thank you to wolfpackvoltare for the transcript. Secondly, go through and count the number of sides with the plantiff and defendant.
Microsoft and SanDisk Join Forces to Create New Experience for USB Flash Drives and Flash Memory Cards
05/11/2007 - 08:00 AM
Expanding on and Replacing U3 Smart Technology
New Offering for USB Flash Drives and Flash Memory Cards
Will Give Users and Developers Greater Mobility, More Security and Seamless Integration With Windows-based PCs
REDMOND, Wash. & MILPITAS, Calif.--(BUSINESS WIRE)--Microsoft and SanDisk® Corporation (NASDAQ:SNDK) today announced they have signed an agreement to deliver a next-generation software and hardware solution to place application programs and personal customization on USB flash drives and flash memory cards, expanding on and replacing SanDisk’s existing U3™ Smart Technology.
Under the terms of the agreement, Microsoft will develop a new software experience and SanDisk will develop new hardware capabilities, including the addition of TrustedFlash™ security technology. SanDisk will incorporate the combined software and hardware solution on removable flash memory cards and Cruzer® USB flash drives. The new offering is expected to be commercially available starting in the second half of 2008.
Effective immediately, Microsoft will engage in discussions with third-party hardware vendors interested in licensing the new software offering. A new entity will be created to license compatible hardware designs, TrustedFlash and other intellectual property from both Microsoft and SanDisk, with revenues to be shared by the two companies.
“SanDisk and U3 forged the category of smart USB devices, elevating simple flash storage to a whole new level of customer benefit,” said Will Poole, corporate vice president of Microsoft’s Market Expansion Group. “We are excited to work with SanDisk on this next-generation experience, which will allow hardware manufacturers to better differentiate their products and provide an even richer software and services experience for customers.”
“The U3 platform was established with the vision of giving customers a consistent and portable computing experience. The existing 20,000 U3 software developers that joined us show the potential for smart flash memory devices,” said Yoram Cedar, executive vice president of the mobile business unit and corporate engineering at SanDisk. “We expect this relationship with Microsoft will raise the overall experience for consumers given Microsoft’s unique software expertise, and grow the momentum given the large community of 3rd party companies capable of utilizing Microsoft’s technologies.”
A New Generation of Smart Portable Computing
The Microsoft and SanDisk effort will expand on the success of U3, which is surrounded by a large and vibrant ecosystem. Both companies stressed that developers will be offered a migration path to modify existing U3 applications to run on the new offering.
U3 smart drives are the size of a pack of chewing gum or smaller, and let users carry not only files but also popular Windows® software applications with their associated preferences and settings. Consumers simply plug a U3 smart drive into any Windows-based computer’s USB port to securely access personalized e-mail programs, Web browsers, productivity tools, multimedia applications and more. When they unplug their U3 smart drive, they take their personal information with them.
The new offering will be designed so that users can carry their personal computing environment – including a customized and familiar user interface, applications and data – on a flash storage device such as a USB flash drive or flash memory card. This computing environment will be accessible on Windows XP and Windows Vista™-based computers with a USB port or flash card reader. Users will be free to work on public or shared computers without fear of leaving personal information behind, and with confidence that their personal information will be encrypted, kept safer from malware, and otherwise protected through security provisions enabled by TrustedFlash technology.
U3 technology was developed by U3 LLC, a joint venture of SanDisk and m-systems, and became available in 2005. SanDisk acquired m-systems in November 2006, and U3 LLC today is a wholly owned subsidiary of SanDisk. SanDisk will continue to actively support the U3 organization and product until the new offering is released to the public next year.
About Microsoft
Founded in 1975, Microsoft (NASDAQ:MSFT) is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
About SanDisk
SanDisk is the original inventor of flash storage cards and is the world's largest supplier of flash data storage card products using its patented, high-density flash memory and controller technology. SanDisk is headquartered in Milpitas, CA and has operations worldwide, with more than half its sales outside the U.S.
Microsoft, Windows and Windows Vista are trademarks of the Microsoft group of companies.
SanDisk's web site/home page address: http://www.sandisk.com
SanDisk's product and executive images can be downloaded from http://www.sandisk.com/corporate/media.asp
SanDisk, the SanDisk logo and Cruzer are trademarks of SanDisk Corporation, registered in the United States and other countries. TrustedFlash is a trademark of SanDisk Corporation. U3 is a trademark of U3, LLC. All brand names mentioned herein are for identification purposes only and may be trademarks of their respective holder(s).
This press release contains certain forward-looking statements, including expectations for new product introductions, specifications, applications, markets, pricing, customer acceptance and customers that are based on our current expectations and involve numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate. Risks that may cause these forward-looking statements to be inaccurate include among others: market demand for our products may grow more slowly than our expectations, there may be a slower adoption rate for these products in new markets that we are targeting, our products may not perform as expected, no security technology can be guaranteed to be 100% secure, and the other risks detailed from time-to-time under the caption “Risk Factors” and elsewhere in our Securities and Exchange Commission filings and reports, including, but not limited to, Form 10-K and our quarterly reports on Form 10-Q. We do not intend to update the information contained in this press release
A rather important post, IMHO. eom
Slashdot thread on Seagate/WAVX...
http://hardware.slashdot.org/article.pl?sid=07/03/12/1354221
This stock should be "quiet" for the next few months. I suspect we will see a run in prep of the markman.
This is a great opportunity to buy a lot of stock, take control of the board, then replace the management.
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
On November 3, 2006, 384,472,310 shares of common stock, par value $.00001 per share (the issuer’s only class of voting stock) were outstanding
EXPLANATORY NOTE
This Amendment No. 1 to the Company’s Form 10-QSB for the quarterly period ended August 31, 2005 is being filed in conjunction with our decision to restate the financial statements contained in our report on Form 10-QSB for the quarterly period ended August 31, 2005, filed with the Securities and Exchange Commission on October 24, 2005. Our board of directors determined, on September 8, 2006, that the original financial statements for the periods in question should no longer be relied upon. We have filed a Form 8-K and an amendment thereto on Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review for the restatement.
As disclosed in Item 8B in our Form 10-KSB for the year ended May 31, 2006, the Audit Committee of our Board of Directors authorized us to amend and restate our financial statements and other financial information for the year ended May 31, 2005, and the quarters ended August 31, 2005, November 30, 2005, and February 28, 2006, as a result of a change in judgment regarding (i) the accounting treatment for our previously outstanding convertible debentures and (ii) our accounting treatment of our interest in Phoenix Digital Solutions, LLC. The issue pertaining to the convertible debentures also relates to the previous years ended May 31, 2004, 2003 and 2002. See the Notes to the 2006 consolidated financial statements for more information.
Patriot Scientific Corporation
Condensed Consolidated Balance Sheets
August 31, 2005
May 31, 2005
As restated (See Note 2)
ASSETS
(Unaudited)
Current assets:
Cash and cash equivalents
$
5,969,897
$
591,426
Marketable securities and short term investments
709,475
697,524
Restricted short term investment
203,341
201,648
Licenses receivable
1,250,000
2,000,000
Prepaid expenses and other current assets
231,213
121,758
Total current assets
8,363,926
3,612,356
Property and equipment, net
25,087
21,376
Investment in affiliated company
1,752,431
—
Patents and trademarks, net of accumulated amortization of $558,269 and $549,563
57,705
66,411
Other assets
—
23,891
$
10,199,149
$
3,724,034
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Current liabilities:
Line of credit
$
99,098
$
100,000
Current portion of convertible debentures, net of debt discount of $210,924 and $301,320
512,244
421,847
Accounts payable
326,689
268,458
Accrued liabilities
432,715
505,153
Current portion of capital lease obligation
—
2,306
Accrued contested fee payable
346,000
346,000
Total current liabilities
1,716,746
1,643,764
Warrant and derivative liabilities
6,087,287
9,274,712
Convertible debentures, net of debt discount of $14,699 and $111,559
10,301
45,942
Total liabilities
7,814,334
10,964,418
Commitments and contingencies
Stockholders’ equity (deficit)
Preferred stock, $0.00001 par value; 5,000,000 shares authorized: none outstanding
—
—
Common stock, $0.00001 par value: 500,000,000 shares authorized: 293,168,632 and 280,492,013 issued and outstanding
2,932
2,805
Additional paid-in capital
57,579,772
55,459,253
Accumulated deficit
(55,197,889
)
(62,702,442
)
Total stockholders’ equity (deficit)
2,384,815
(7,240,384
)
$
10,199,149
$
3,724,034
Patriot Scientific Corporation
Condensed Consolidated Statements of Operations
(Unaudited)
Three Months Ended
August 31, 2005
August 31, 2004
As Restated (See Note 2)
Revenues:
Licenses and royalties
$
10,000,000
$
—
Other
10,070
2,550
10,010,070
2,550
Operating expenses:
Research and development
88,707
128,304
Selling, general and administrative
1,162,396
380,401
Settlement and license expense
1,918,054
—
Total operating expenses
3,169,157
508,705
Operating income (loss)
6,840,913
(506,155
)
Other income (expense):
Unrealized loss on marketable securities
—
(14,663
)
Other income
33,893
47,273
Interest expense
(202,484
)
(613,105
)
Change in fair value of warrant and derivative liabilities
1,079,799
2,220,953
Equity in loss of affiliated company
(247,569
)
—
Total other income, net
663,639
1,640,458
Net income
$
7,504,552
$
1,134,303
Basic income per common share
$
0.03
$
0.01
Diluted income per common share
$
0.02
$
0.00
Weighted average number of common shares outstanding-basic
291,335,488
183,060,245
Weighted average number of common shares outstanding-diluted
367,216,524
256,787,601
See accompanying notes to unaudited condensed consolidated financial statements.
F-3
Table of Contents
Patriot Scientific Corporation
Condensed Consolidated Statements of Cash Flows
(Unaudited)
Three Months Ended
August 31, 2005
August 31, 2004
As Restated (See Note 2)
Operating activities:
Net income
$
7,504,552
$
1,134,303
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Amortization and depreciation
14,536
23,648
Equity in loss of affiliated company
247,569
—
Change in fair value of warrant and derivative liabilities
(1,079,799
)
(2,220,953
)
Net gain related to warrant re-pricing, reconveyance and issuance
(538,208
)
—
Issuance of stock, options and warrants for services and other
81,250
14,800
Unrealized loss on marketable securities
—
14,663
Accrued interest income added to investments
(13,644
)
—
Non-cash interest expense related to convertible debentures, notes payable and warrants
187,256
565,610
Expense related to extension of expiration date of stock options
125,000
—
Changes in operating assets and liabilities:
Accounts receivable
—
1,225
Prepaid and other assets
(85,564
)
3,183
Licenses receivable
750,000
—
Accounts payable and accrued expenses
(8,165
)
(36,155
)
Net cash provided by (used in) operating activities
7,184,783
(499,676
)
Investing activities:
Purchase of property and equipment
(9,541
)
—
Investment in affiliated company
(2,000,000
)
—
Net cash used in investing activities
(2,009,541
)
—
Financing activities:
Net payment on line of credit
(902
)
—
Payments on capital lease obligations
(2,306
)
(1,839
)
Proceeds from exercise of common stock warrants and options
206,437
154,431
Net cash provided by financing activities
203,229
152,592
Net increase (decrease) in cash and cash equivalents
5,378,471
(347,084
)
Cash and cash equivalents, beginning of period
591,426
355,940
Cash and cash equivalents, end of period
$
5,969,897
$
8,856
Supplemental Disclosure of Cash Flow Information:
Cash payments for interest
$
—
$
1,781
Cash payments for income taxes
$
—
$
2,400
Supplemental Disclosure of Non-Cash Investing and Financing Activities:
Convertible debentures, notes payable and accrued interest exchanged for common stock
$
138,540
$
469,665
Reclassification of derivative liabilities associated with debt conversions and warrant exercises
$
1,569,420
$
836,662
Cashless exercise of warrants
$
116
$
—
See accompanying notes to unaudited condensed consolidated financial statements.