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 ($)
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating Activities:    
Net loss $ (8,192,523) $ (4,849,474)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation 2,960,733 1,824,045
Change in fair value of derivative liability 839,872
Amortization of debt discount 747,623 174,981
Conversion of Series A 118,698
Debt extinguishment costs, net 423,028 977,201
Financing costs 171,739
Depreciation and amortization 15,823 16,090
Effect of changes in assets and liabilities:    
Accounts payable, accrued expenses, and accrued interest 253,289 569,881
Deferred revenue 2,694
Other assets 1,286 7,256
Accounts receivable (2,500) 2,468
Prepaid expenses (22,469) (15,680)
Net cash used in operating activities (2,801,405) (1,174,534)
Financing Activities:    
Proceeds from sale of common stock 2,978,500 470,000
Proceeds from exercise of put option 1,000,000
Proceeds from convertible note payable 130,000
Proceeds from option exercise 34,133
Proceeds from warrant exercise 22,000
Proceeds from series A preferred stock 555,000
Proceeds / (payment) of convertible notes payable (845,000) 300,000
Redemption of series A preferred stock (138,322)
Repurchase common stock (20,000)
Deferred offering costs (129,327)
Net cash provided by financing activities 3,170,306 1,186,678
Net change in cash 368,901 12,144
Cash - beginning of period 10,560 16,762
Cash - end of period 379,461 28,906
Supplemental disclosures of cash flow information:    
Cash paid for interest 369,597 171,375
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 3,065,837
Common stock issued to settle accrued officers salary 582,333
Fair value of derivative liability, common shares, warrants and beneficial conversion feature of issued convertible note 150,000 196,953
Conversion of notes payable to common stock 181,845
Common stock issued to settle accounts payable 56,000
Conversion of series A preferred stock $ 263,876