CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
|
12 Months Ended |
Dec. 31, 2017 |
Dec. 31, 2016 |
| CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
| Net loss attributable to controlling interests |
$ (2,935,112)
|
$ (3,697,453)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Non-controlling interest adjustment |
25
|
|
| Cash effect of acquisition of Basalt America |
|
77,997
|
| Depreciation |
18,638
|
65,131
|
| Amortization of debt discount |
10,407
|
200,716
|
| Loss on extinguishment of debt |
72,000
|
1,078,232
|
| Stock-based compensation |
815,790
|
1,138,842
|
| Loss on leasehold and deposit |
221,328
|
|
| Amortization of license agreement |
50,000
|
|
| Common stock issued for services |
62,500
|
407,680
|
| Changes in operating assets and liabilities: |
|
|
| (Increase) decrease in prepaid expense |
(9,431)
|
7,327
|
| (Increase) decrease in inventory |
(377,184)
|
55,836
|
| Decrease in accounts receivable |
8,835
|
|
| Increase in other current assets |
(22,806)
|
(499)
|
| Decrease in accrued expenses - related party |
(500,000)
|
(10,544)
|
| Increase (decrease) in customer deposits |
(34,634)
|
31,036
|
| Increase in accounts payable and accrued expenses |
321,219
|
268,197
|
| Net cash used in operating activities |
(2,298,425)
|
(377,502)
|
| CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
| Purchase of equipment |
(456,881)
|
(2,160)
|
| Deposits on machinery and equipment |
(1,060,000)
|
|
| Net cash used in investing activities |
(1,516,881)
|
(2,160)
|
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
| Proceeds from purchase order funding |
|
55,000
|
| Proceeds from purchase order funding - related party |
|
4,000
|
| Repayment to related party |
(5,589)
|
|
| Proceeds from notes payable - related party |
215,000
|
|
| Proceeds from related party |
|
33,397
|
| Repayment of purchase order funding |
(1,885)
|
(31,615)
|
| Proceeds from notes payable |
30,000
|
5,000
|
| Repayment of note payable |
|
(5,000)
|
| Proceeds from sale of JV interest |
502,500
|
|
| Proceeds from notes payable related party - convertible |
|
63,975
|
| Proceeds from sale of common stock |
3,175,680
|
293,000
|
| Net cash provided by financing activities |
3,915,706
|
417,757
|
| NET INCREASE IN CASH |
100,400
|
38,095
|
| CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |
88,338
|
50,243
|
| CASH AND CASH EQUIVALENTS AT END OF YEAR |
188,738
|
88,338
|
| Supplemental cash flow information: |
|
|
| Cash paid for income taxes |
|
|
| Cash paid for interest expense |
|
|