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 ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating Activities:    
Net loss $ (8,494,418) $ (856,820)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation 4,610,954 264,273
Change in fair value of derivative liability 2,624,887
Debt extinguishment 1,067,242 26,000
Amortization of debt discount 747,623 39,678
Financing costs 171,739
Depreciation and amortization 5,305 5,305
Gain on extinguishment of derivative liability (1,718,816)
Effect of changes in assets and liabilities:    
Accounts payable, accrued expenses, and accrued interest (11,468) 214,440
Accounts receivable 8,468
Other assets 3,977
Prepaid expenses 5,029 (23,413)
Net cash used in operating activities (991,923) (318,092)
Financing Activities:    
Proceeds from sale of common stock 2,278,500 170,000
Proceeds from exercise of put option 1,000,000
Proceeds from convertible note payable 130,000
Proceeds from warrant exercise 22,000
Proceeds from series A preferred stock 255,000
Payment of convertible notes payable (845,000)
Net cash provided by financing activities 2,585,500 425,000
Net change in cash 1,593,577 106,908
Cash - beginning of period 10,560 16,762
Cash - end of period 1,604,137 123,670
Supplemental disclosures of cash flow information:    
Cash paid for interest 258,627 3,750
Cash paid for income taxes
Supplemental disclosure of non-cash investing and financing activities:    
Conversion of note payable and accrued interest to common stock 2,277,299
Fair value of derivative liability extinguished upon exercise of warrants 723,037
Common stock issued to settle accrued officer's salary 582,333
Fair value of derivative liability from issuance of convertible debt and warrant features 301,739
Common stock issued to settle accounts payable $ 30,000