Cash Flow

v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (27,031,599) $ (1,602,348)
Adjustments to reconcile net loss to cash flows used in operating activities:    
Depreciation and amortization 16,854 1,368
Bad debt expense 8,750
Termination of licensing agreement 132,804
Non cash interest 9,363,244 21,722
Amortization of debt discount 710,658 286,627
Stock Based Compensation 355,979 101,217
Gain on settlement of debt (285,924)
Change in fair value of option modifications 53,858
Change in fair value of derivative liabilities 15,897,993 467,041
Changes in operating assets and liabilities:    
Accounts receivable (51,750) (15,500)
Prepaid expenses and other current assets 1,466 (5,233)
Accounts payable and accrued expenses (89,040) (245,265)
Settlement payable (270,000)
Deferred revenue (277,521) (215,826)
Net cash used in operating activities (1,659,640) (1,010,785)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment (14,124)
Payment of long term deposit (17,634)
Payment for intellectual property (55,648)
Net cash used in investing activities (87,406)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock 940,000
Proceeds from convertible notes payable 1,660,000 2,264,448
Repayments of notes payable (187,748) (211,500)
Net cash provided by financing activities 2,412,252 2,052,948
Net increase in cash 752,612 954,757
Cash, beginning of the period 92,455 220,060
Cash, end of period 845,067 1,174,817
Supplemental disclosures of cash flow information:    
Interest paid 10,507 2,418
Taxes paid
Non cash financing activities:    
Reclassify fair value of debt derivative at payoff of note payable 262,271
Reclassify fair value of debt derivative at note modification 30,806,073
Common stock issued in settlement of convertible notes payable $ 220,000

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