Trucept, Inc.

CIK:0000947011|SEC Filings

Net loss per share

12 Months Ended

Dec. 31, 2012

5.	Net loss per share

		2012			2011
Net loss	$	(7,853,021	)	$	(8,123,553	)
Weighted number of shares outstanding		49,212,123			38,025,077
Net loss per share	$	(0.16	)	$	(0.21	)

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
Consolidated Statements of Cash Flows (USD $)	Dec. 31, 2012	Dec. 31, 2011
Operating Activities
Net loss	$ (7,853,021)	$ (8,123,553)
Adjustments to reconcile net loss to cash provided by (used in) operating activities
Depreciation and amortization	22,314	20,214
Share based compensation expense	0	443,979
Miscellaneous assets	0	(11,356)
Provision for doubtful accounts	315,122	150,000
Changes in operating assets and liabilities
Accounts receivable	249,982	(86,597)
Due from related parties	1,323,057	(2,739,220)
Payable to related parties	(336,352)	220,607
Prepaid expenses and deposits	43,597	16,942
Prepaid worker compensation expense	(1,193,588)	(1,094,123)
Accrued workers compensation	392,041	1,055,980
Accounts payable and accrued liabilities	610,642	(950,361)
Net cash provided by (used in) operating activities	(6,426,206)	(11,097,488)
Investing activities
Purchase of equipment	0	(27,720)
Cash from Solvis Medical Group assets	0	35,000
Net cash provided by investing activities	0	7,280
Financing activities
Assignment of accounts receivable	(195,156)	0
Payroll taxes payable	7,069,927	10,440,980
Payments of long-term payable	(35,000)	0
Net cash used in financing activities	6,839,771	10,440,980
Net increase (decrease) in cash	413,565	(649,228)
Cash and cash equivalents, beginning of the year	132,492	781,720
Cash and cash equivalents, end of the year	546,057	132,492
Supplemental cash flow information
Interest paid	143,046	194,304
Income taxes paid	0	0
Non cash supplemental information
Note payable - purchase of Solvis Medical Group assets	$ 0	$ 500,000

Consolidated Balance Sheets (USD $)	Dec. 31, 2012	Dec. 31, 2011
Current assets
Cash and cash equivalents	$ 546,057	$ 132,492
Accounts receivable, net	1,061,479	1,626,583
Due from related parties	1,416,163	2,739,220
Prepaid expenses and deposits	8,555	52,152
Total current assets	3,032,254	4,550,447
Equipment, net of accumulated depreciation	32,693	55,007
Prepaid workers compensation	4,633,588	3,440,000
Goodwill	476,356	476,356
Total Assets	8,174,891	8,521,810
Current liabilities
Accounts payable and accrued liabilities	1,052,077	441,435
Assigned receivables liability	631,787	826,943
Accrued payroll taxes	17,642,085	9,983,821
Accrued payroll taxes penalties	1,385,854	1,974,191
Accrued workers compensation	1,448,021	1,055,980
Payable to related parties	272,670	609,022
Note payable to related party	500,000	500,000
Total current liability	22,932,494	15,391,392
Other long-term liabilities	0	35,000
Total liabilities	22,932,494	15,426,392
Stockholders' Deficit
Preferred stock: $0.001 par value, 5,000,000 shares authorized, zero shares issued and outstanding at December 31, 2012 and 2011	0	0
Common stock: $0.001 par value, 500,000,000 shares authorized, 49,212,123 issued and outstanding at December 31, 2012 and 2011	49,212	49,212
Additional paid in capital	7,271,945	7,271,945
Accumulated deficit	(22,078,760)	(14,225,739)
Total stockholders' deficit	(14,757,603)	(6,904,582)
Total liabilities and stockholders' deficit	$ 8,174,891	$ 8,521,810