Cash Flow

v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,211,139) $ (4,671,365)
Adjustments to reconcile net loss to cash flows used in operating activities:    
Depreciation and amortization 21,706 96,197
Bad debt expense 8,750 85,122
Loss on settlement of sub-licenses 118,027
Termination of licensing agreement 132,804 3,639,694
Non cash interest 21,722 134,554
Amortization of debt discount 474,217 84,886
Stock Based Compensation 287,617 396,971
Change in fair value of option modifications 53,858
Change in fair value of derivative liabilities 2,344,272 (77,765)
Changes in operating assets and liabilities:    
Accounts receivable (45,500) (50,522)
Prepaid expenses and other current assets (10,349) (2,475)
Accounts payable and accrued expenses (371,630) 389,617
Settlement payable (240,000)
Deferred revenue (324,924) (407,473)
Net cash used in operating activities (1,618,596) (504,532)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment (22,593)
Payment of long term deposit (17,634)
Payment for intellectual property (180,648)
Net cash used in investing activities (220,875)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from related party notes payable 38,000
Proceeds from convertible notes payable 2,264,448 110,000
Proceeds from advances 400,000
Repayments of notes payable (564,412) (87,919)
Net cash provided by financing activities 1,700,036 460,081
Net increase in cash (139,435) (44,451)
Cash, beginning of the period 220,060 53,120
Cash, end of period 80,625 8,669
Supplemental disclosures of cash flow information:    
Interest paid 106,333 2,418
Taxes paid
Non-cash financing activities:    
Reclassify fair value of debt derivative at payoff of note payable 262,271
Note payable issued in settlement of sub-licensing fees 900,000
Note payable and common stock issuable to acquire intellectual property $ 1,132,000

Source