Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows (Unaudited)

v3.8.0.1
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating activities:    
Net loss $ (618,917) $ (7,764,976)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization expense 161,994 3,690
Fair value of equity issued for services 4,535 35,089
Loss (gain) on extinguishment of debt (114,828) 92,633
Amortization of note discount and original issue discount 1,036,609 388,907
Amortization of discount on Series C Preferred stock liability 16,080
Non-cash interest expense 48,873 1,244,928
Non-cash value of warrant issued for services 380,750
Change in fair value of derivative liability (1,814,058) 5,436,248
Changes in assets and liabilities:    
Accounts receivable (6,972)
Prepaid expenses and other current assets 14,000
Accounts payable and accrued expenses 315,183 115,289
Net cash used in operating activities (590,751) (434,192)
Investing activities:    
Acquisition of property and equipment (8,969)
Net cash used in investing activities (8,969)
Financing activities:    
Proceeds from the issuance of notes payable 375,000 293,500
Proceeds from related party short-term advances 60,000 12,650
Repayments on related parties short term advances (82,000) (11,500)
Proceeds from issuance of common stock and units 60,000 200,000
Payment against long term loan (3,157) (3,064)
Proceeds from issuance of preferred stock 195,000
Net cash provided by financing activities 604,843 491,586
Net increase in cash 5,123 57,394
Cash, beginning of year 90,173 55,533
Cash, end of period 95,296 112,927
Supplemental disclosure of cash flow information:    
Cash paid for interest 49,690 3,518
Cash paid for income taxes
Non Cash Investing and Financing Activities:    
Conversion of notes payable and accrued interest to common stock 513,530 679,597
Common stock issued on settlement of debt 128,450
Notes payable and accrued interest exchanged for common stock units $ 51,534