Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating Activities:    
Net loss $ (4,849,474) $ (3,075,399)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation 1,824,045 1,145,053
Debt extinguishment 977,201
Amortization of debt discount and debt issuance costs 174,981 281,146
Conversion of series A Preferred 118,698
Depreciation and amortization 16,090 16,467
Effect of changes in operating assets and liabilities:    
Accounts payable and accrued expenses 569,881 371,141
Accounts receivable 2,468 (3,406)
Other assets 7,256 (15,255)
Prepaid expenses and other current assets (15,680) (39,949)
Net cash used in operating activities (1,174,534) (1,320,202)
Investing Activities:    
Purchase of property and equipment (2,494)
Other
Net cash used in investing activities (2,494)
Financing Activities:    
Proceeds from series A preferred stock 555,000
Proceeds from sale of common stock 470,000 1,464,850
Proceeds from note payable 300,000
Proceeds from notes payable - related parties 82,446
Redemption of series A preferred (138,322)
Repurchases of common stock (166,226)
Net cash provided by financing activities 1,186,678 1,381,070
Net change in cash 12,144 58,374
Cash - beginning of period 16,762 103,019
Cash - end of period 28,906 161,393
Supplemental disclosures of cash flow information:    
Cash paid for interest 171,375 11,250
Cash paid for income taxes
Supplemental disclosure of non-cash investing and financing activities:    
Fair value of warrants issued to extend debt 860,600
Conversion of series A Preferred to common stock 263,876
Fair value of common shares, warrants and beneficial conversion feature of issued convertible note 196,953
Conversion of note payable to common stock 181,845
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