Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating Activities:    
Net loss $ (6,722,532) $ (2,968,585)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation 3,456,593 1,206,737
Change in fair value of derivative liability 1,180,723
Amortization of debt discount 747,623 93,024
Gain on debt extinguishment, net (651,574) 552,871
Financing costs 171,739
Depreciation and amortization 10,494 10,668
Effect of changes in assets and liabilities:    
Accounts payable, accrued expenses, and accrued interest (67,693) 317,330
Accounts receivable 8,468
Other assets (8,031) 6,963
Prepaid expenses (6,737) (22,230)
Net cash used in operating activities (1,889,395) (794,754)
Financing Activities:    
Proceeds from sale of common stock 2,978,500 450,000
Proceeds from exercise of put option 1,000,000
Proceeds from convertible note payable 130,000 100,000
Proceeds from option exercise 34,133
Proceeds from warrant exercise 22,000
Proceeds from series A preferred stock 255,000
Payment of convertible notes payable (845,000)
Repurchase common stock (20,000)
Net cash provided by financing activities 3,299,633 805,000
Net change in cash 1,410,238 10,246
Cash - beginning of period 10,560 16,762
Cash - end of period 1,420,798 27,008
Supplemental disclosures of cash flow information:    
Cash paid for interest 314,066
Cash paid for income taxes 800
Supplemental disclosure of non-cash investing and financing activities:    
Conversion of note payable and accrued interest to common stock 2,277,299 110,880
Common stock issued to settle accrued officers salary 582,333
Fair value of derivative liability from issuance of convertible debt and warrant features 301,739
Conversion of notes payable to convertible notes payable 56,000
Common stock issued to settle accounts payable $ 100,000