Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating Activities:    
Net loss $ (2,968,585) $ (1,984,933)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation 1,206,737 714,274
Debt extinguishment 552,871
Amortization of debt discount and debt issuance costs 93,024 179,822
Depreciation and amortization 10,668 11,652
Effect of changes in operating assets and liabilities:    
Accounts payable and accrued expenses 317,330 259,856
Accounts receivable 8,468 (34,362)
Other assets 6,963
Prepaid expenses and other current assets (22,230) (41,984)
Net cash used in operating activities (794,754) (895,675)
Financing Activities:    
Proceeds from sale of common stock 450,000 918,980
Proceeds from series A preferred stock 255,000
Proceeds from note payable 100,000
Proceeds from notes payable - related parties 82,446
Repurchases of common stock (166,226)
Net cash provided by financing activities 805,000 835,200
Net change in cash 10,246 (60,475)
Cash - beginning of period 16,762 103,019
Cash - end of period 27,008 42,544
Supplemental disclosures of cash flow information:    
Cash paid for interest 67,364 6,250
Cash paid for income taxes
Supplemental disclosure of non-cash investing and financing activities:    
Conversion of note payable to common stock 110,880
Fair value of common shares, warrants and beneficial conversion feature of issued convertible note 100,000
Common stock issued to settle accounts payable 56,000
Conversion of notes payable to convertible notes payable 600,000
Conversion of notes payable to related parties to convertible notes payable 332,446
Conversion of accrued payroll to related party note 121,875
Conversion of accrued interest on notes payable to convertible notes payable 66,463
Conversion of accrued interest on notes payable to related parties to convertible notes payable $ 10,421