Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (11,333,138)us-gaap_ProfitLoss $ (4,844,553)us-gaap_ProfitLoss
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 125,111us-gaap_Depreciation 142,130us-gaap_Depreciation
Amortization of deferred financing costs 37,529us-gaap_AmortizationOfFinancingCosts 52,608us-gaap_AmortizationOfFinancingCosts
Provision for bad debt 28,402WSTI_ProvisionForBadDebt   
Loss from change in fair value of derivative liability 424,071us-gaap_DerivativeGainLossOnDerivativeNet   
Beneficial conversion of convertible debt 400,000WSTI_DebtInstrumentConvertibleBeneficialConversionFeatureOne   
Stock based compensation and stock warrant expense 5,224,258WSTI_StockBasedCompensationAndStockWarrantExpense 1,957,606WSTI_StockBasedCompensationAndStockWarrantExpense
Inventory write-down 111,000us-gaap_InventoryWriteDown   
Amortization of debt discount    308,156us-gaap_AmortizationOfDebtDiscountPremium
Changes in operating Assets and Liabilities:    
Accounts receivable (644,375)us-gaap_IncreaseDecreaseInAccountsReceivable (376,616)us-gaap_IncreaseDecreaseInAccountsReceivable
Inventories (349,152)us-gaap_IncreaseDecreaseInInventories (651,782)us-gaap_IncreaseDecreaseInInventories
Prepaid expenses 109,037us-gaap_IncreaseDecreaseInPrepaidExpense (109,624)us-gaap_IncreaseDecreaseInPrepaidExpense
Deposits (53,604)us-gaap_IncreaseDecreaseInDeposits   
Accounts payable 411,801us-gaap_IncreaseDecreaseInAccountsPayable (278,830)us-gaap_IncreaseDecreaseInAccountsPayable
Accounts payable-related parties    (41,705)us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties
Accrued liabilities 313,552us-gaap_IncreaseDecreaseInAccruedLiabilities 113,082us-gaap_IncreaseDecreaseInAccruedLiabilities
NET CASH USED IN OPERATING ACTIVITIES (5,195,508)us-gaap_NetCashProvidedByUsedInOperatingActivities (3,729,528)us-gaap_NetCashProvidedByUsedInOperatingActivities
CASH FLOWS USED IN INVESTING ACTIVITIES:    
Cash paid for property and equipment (32,825)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (6,618)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Reverse merger cash    (32,116)us-gaap_PaymentsForMergerRelatedCosts
NET CASH USED IN INVESTING ACTIVITIES (32,825)us-gaap_NetCashProvidedByUsedInInvestingActivities (38,734)us-gaap_NetCashProvidedByUsedInInvestingActivities
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash payments on deferred financing costs    (41,934)us-gaap_PaymentsOfFinancingCosts
Proceeds from sale of common stock, net offering costs of $79,184 and $109,000, respectively 1,826,426us-gaap_ProceedsFromIssuanceOfCommonStock 3,124,958us-gaap_ProceedsFromIssuanceOfCommonStock
Borrowings on line of credit, net 1,491,606us-gaap_ProceedsFromLinesOfCredit 500,000us-gaap_ProceedsFromLinesOfCredit
Principal payments on short term debt (305,353)us-gaap_RepaymentsOfLinesOfCredit (199,750)us-gaap_RepaymentsOfLinesOfCredit
Borrowings on short term debt 600,000us-gaap_ProceedsFromShortTermDebt   
Principal payments on short term debt - related party (55,000)us-gaap_RepaymentsOfRelatedPartyDebt (27,500)us-gaap_RepaymentsOfRelatedPartyDebt
Borrowing on short term debt - related party 88,500us-gaap_ProceedsFromRelatedPartyDebt 62,000us-gaap_ProceedsFromRelatedPartyDebt
Principal payments on long term debt (75,000)us-gaap_RepaymentsOfLongTermDebt   
Proceeds from issuance of convertible debt, net of discounts 453,388us-gaap_ProceedsFromConvertibleDebt 550,000us-gaap_ProceedsFromConvertibleDebt
Payments on note receivable 1,594,740WSTI_RepaymentsOfNoteReceivable   
NET CASH PROVIDED BY FINANCING ACTIVITIES 5,619,307us-gaap_NetCashProvidedByUsedInFinancingActivities 3,967,774us-gaap_NetCashProvidedByUsedInFinancingActivities
NET INCREASE IN CASH 390,974us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 199,512us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
CASH, Beginning of Period 203,534us-gaap_CashAndCashEquivalentsAtCarryingValue 4,022us-gaap_CashAndCashEquivalentsAtCarryingValue
CASH, End of Period 594,508us-gaap_CashAndCashEquivalentsAtCarryingValue 203,534us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash paid during the year for:    
Interest 185,934us-gaap_InterestPaid 443,946us-gaap_InterestPaid
Income taxes 800us-gaap_IncomeTaxesPaidNet 800us-gaap_IncomeTaxesPaidNet
NON CASH INVESTING AND FINANCING ACTIVITIES    
Notes receivable (in exchange for debt) 3,770,000WSTI_NotesReceivableInExchangeForDebt   
Debt converted to common stock 200,000us-gaap_DebtConversionConvertedInstrumentAmount1   
Deposit for future financing write off 50,000WSTI_DepositForFutureFinancingWriteOff   
Debt discount on warrants issued with debt    528,135WSTI_DebtDiscountOnWarrantsIssuedWithDebt
Warrants issued for deferred financing costs    48,203WSTI_WarrantsIssuedForDeferredFinancingCosts
Property and equipment purchased on credit 6,504WSTI_FixedAssetsPurchasedOnCredit   
Transfer of short term debt - related party to short - term debt third parties    $ 100,000WSTI_TransferOfShortTermDebtRelatedPartyToShortTermDebtThirdParties