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 ($)
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating activities:    
Net loss $ (2,583,739) $ (790,804)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 210,702 4,325
Equity interests issued as payment of salary expense   62,500
Amortization of debt issuance costs   9,657
Share based compensation 253,041  
Effect of changes in operating assets and liabilities:    
Prepaid expenses and other current assets 100,857 (17,110)
Debt issuance costs   (140,000)
Accounts payable and accrued expenses 96,521 (15,545)
Net cash used in operating activities (1,922,618) (886,977)
Investing activities:    
Purchase of property and equipment (49,915) (42,616)
Deposit for booth equipment   (199,428)
Acquisition of Songstagram (43,900)  
Net cash used in investing activities (93,815) (242,044)
Financing activities:    
Proceeds from notes payable 935,000  
Proceeds from capital contributions   580,000
Proceeds from convertible notes payable   1,500,000
Payments of notes payable - related parties   (74,938)
Net cash provided by financing activities 935,000 2,005,062
Net change in cash (1,081,433) 876,041
Cash, beginning of period 1,172,117 124,224
Cash, end of period 90,684 $ 1,000,265
Supplemental disclosures of cash flow information:    
Cash paid for interest expense $ 3,750  
Cash paid for income taxes    
Supplemental disclosure of non-cash investing and financing transactions:    
Note payable issued as prepayment for professional fees $ 125,000  
Conversion of note receivable for the acquisition of Songstagram 861,435  
Issuance of common stock in connection with settlement agreement $ 410,000  
Convertible note payable issued as payment for debt issuance costs   $ 112,000