CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
|
3 Months Ended |
Mar. 31, 2018 |
Mar. 31, 2017 |
| CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
| Net loss |
$ (7,586,580)
|
$ (243,351)
|
| Adjustments to reconcile net loss to net cash from operating activities: |
|
|
| Stock based compensation |
1,877
|
1,466
|
| Amortization |
5,286
|
2,637
|
| Amortization of debt discounts |
157,340
|
0
|
| Increase in principal balance due to penalty provision |
12,500
|
0
|
| Change in fair value of derivatives liabilities |
7,036,772
|
0
|
| Loss on extinguishment of convertible notes payable |
154,284
|
0
|
| Changes in assets and liabilities: |
|
|
| Accounts receivable |
(4,799)
|
0
|
| Accounts payable |
(4,135)
|
30,494
|
| Accrued expenses |
18,268
|
2,505
|
| Management fee payable |
44,250
|
(17,500)
|
| Net cash used in operating activities |
(164,937)
|
(223,749)
|
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
| Payments on notes payable |
(800)
|
0
|
| Proceeds from convertible notes payable |
254,350
|
0
|
| Proceeds from sale of common stock |
0
|
100,000
|
| Net cash provided from financing activities |
253,550
|
100,000
|
| NET INCREASE (DECREASE) IN CASH |
88,613
|
(123,749)
|
| BEGINNING CASH BALANCE |
13,697
|
221,868
|
| ENDING CASH BALANCE |
102,310
|
98,119
|
| SUPPLEMENTAL CASH FLOW INFORMATION: |
|
|
| Cash payments for interest |
200
|
0
|
| Cash payments for income taxes |
0
|
0
|
| NON-CASH FINANCING ACTIVITIES: |
|
|
| Fair value of warrants issued in private placement |
0
|
5,546
|
| Conversion of notes payable, accrued interest and derivative liabilities into common stock |
$ 1,887,052
|
$ 0
|