Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows (Unaudited)

v3.7.0.1
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities:    
Net loss $ (5,906,987) $ (2,357,000)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization expense 7,381 7,917
Fair value of equity issued for services 254,946 1,738,629
Stock based compensation 1,000,090
Non-cash expenses paid in debt issuance 123,000
Gain (loss) on extinguishment of debt (2,233,656) 393,118
Non-cash interest expense 1,994,526 438,587
Amortization of note discount 895,322 456,763
Change in fair value of derivative liability 2,400,778 (2,598,684)
Changes in assets and liabilities:    
Other current assets 76,321 346,133
Accounts payable and accrued expenses 163,440 423,495
Net cash used in operating activities (1,347,839) (1,028,042)
Investing activities:    
Net cash used in investing activities
Financing activities:    
Proceeds from the issuance of notes payable 878,500 477,000
Proceeds from short term advances 12,650 5,618
Repayments on short term advances (11,500) (15,300)
Proceeds from issuance of common stock and units 472,749 818,329
Payment against long term loan (6,151) (5,970)
Payment against notes payable (30,000) (151,220)
Payment against notes payable- related parties (63,200)
Net cash provided by financing activities 1,316,248 1,065,257
Net increase in cash (31,591) 37,215
Cash, beginning of year 55,533 41,473
Cash, end of period 23,942 78,688
Supplemental disclosure of cash flow information:    
Cash paid for interest 8,711 19,124
Cash paid for income taxes
Non Cash Investing and Financing Activities:    
Conversion of notes payable and accrued interest to common stock 761,810 499,441
Common stock issued on settlement of debt 185,945
Notes payable and accrued interest exchanged for common stock units $ 66,367