Cash Flow

v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (38,335,521) $ (528,585)
Adjustments to reconcile net loss to cash flows used in operating activities:    
Depreciation and amortization 8,389 573
Bad debt expense 2,750
Termination of licensing agreement 132,804
Non cash interest 9,363,244 21,722
Amortization of debt discount 339,538 122,256
Stock Based Compensation 111,843 64,006
Change in fair value of derivative liabilities 28,161,673 28,697
Changes in operating assets and liabilities:    
Accounts receivable (21,000) (16,000)
Prepaid expenses and other current assets 3,638 (1,840)
Accounts payable and accrued expenses (107,286) 5,473
Settlement payable (255,000)
Deferred revenue (106,727) (107,913)
Net cash used in operating activities (837,209) (276,057)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment
Payment of long term deposit (17,634)
Payment for intellectual property (55,648)
Net cash used in investing activities (73,282)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock 940,000
Proceeds from notes payable 300,000
Proceeds from convertible notes payable 1,660,000 74,448
Net repayments of advances from lenders
Repayments of notes payable (172,748) (123,500)
Net cash provided by financing activities 2,427,252 250,948
Net increase (decrease) in cash 1,590,043 (98,391)
Cash, beginning of the period 92,455 220,060
Cash, end of period 1,682,498 121,669
Supplemental disclosures of cash flow information:    
Interest paid 10,507 7,418
Taxes paid
Non-cash financing activities:    
Reclassify fair value of debt derivative at payoff of note payable 262,271 173,787
Common stock issued in connection with issuance of convertible notes payable $ 220,000

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