Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating activities:    
Net loss $ (5,131,902) $ (1,881,839)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 357,917 8,476
Impairment of intangible assets 1,104,327  
Equity interests issued as payment of salary expense   62,500
Amortization of debt issuance costs   51,963
Share based compensation 914,505  
Effect of changes in operating assets and liabilities:    
Prepaid expenses and other current assets 146,521 (39,908)
Debt issuance costs   (140,000)
Other assets   (200,000)
Accounts payable and accrued expenses 156,449 106,185
Net cash used in operating activities (2,452,183) (2,032,623)
Investing activities:    
Purchase of property and equipment (62,029) (79,952)
Deposit for booth equipment   (199,428)
Acquisition of Songstagram (43,900)  
Net cash used in investing activities (105,929) (279,380)
Financing activities:    
Proceeds from notes payable 1,500,942 100,000
Proceeds from capital contributions   595,000
Proceeds from convertible notes payable   1,500,000
Proceeds from related party advances   85,000
Payments of notes payable (100,000)  
Payments of notes payable - related parties   (74,938)
Net cash provided by financing activities 1,400,942 2,205,062
Net change in cash (1,157,170) (106,941)
Cash, beginning of period 1,172,117 124,224
Cash, end of period 14,947 $ 17,283
Supplemental disclosures of cash flow information:    
Cash paid for interest expense $ 7,500  
Cash paid for income taxes
Supplemental disclosure of non-cash investing and financing transactions:    
Note payable issued as payment for professional fees $ 125,000  
Conversion of note receivable for the acquisition of Songstagram 861,435  
Issuance of common stock in connection with settlement agreements $ 530,000  
Convertible note payable issued as payment for debt issuance costs   $ 112,000