Cash Flow

v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,109,846) $ (28,133,690)
Adjustments to reconcile net loss to cash flows used in operating activities:    
Depreciation and amortization 6,051 25,396
Bad debt expense 15,750 20,375
Non cash interest 9,363,244
Amortization of debt discount 1,138,239 1,085,856
Stock based compensation 1,556,024 525,782
Common stock issued with loan extension 12,000
Gain on settlement of debt (285,924)
Change in fair value of derivative liabilities 15,872,510
Changes in operating assets and liabilities:    
Accounts receivable (1,550) (39,750)
Prepaid expenses and other current assets (5,131) (4,924)
Accounts payable and accrued expenses 194,779 13,823
Settlement payable (15,000) (285,000)
Deferred revenue (177,522) (378,864)
Net cash used in operating activities (1,386,206) (2,221,166)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment (29,763)
Net cash used in investing activities (29,763)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock 1,300,000 940,000
Proceeds from common stock subscriptions 100,000
Proceeds from notes payable 250,000
Proceeds from convertible notes payable 1,660,000
Repayments of notes payable (187,748)
Net cash provided by financing activities 1,650,000 2,412,252
Net increase in cash and restricted cash 234,031 191,086
Cash, beginning of the period 11,342 92,455
Cash and restricted cash, end of period 245,373 283,541
Supplemental disclosures of cash flow information:    
Interest paid 10,507
Taxes paid
Non cash financing activities:    
Reclassify fair value of debt derivative at note modification 30,806,073
Common stock issued in connection with issuance of notes payable 25,500 220,000
Reclassify fair value of warrant liability upon adoption of ASC 2017-11 $ 175,975

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