CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
|
9 Months Ended |
Sep. 30, 2017 |
Sep. 30, 2016 |
| Cash flows from operating activities: |
|
|
| Net Loss |
$ (5,454,256)
|
$ (1,403,441)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Stock based compensation |
675,966
|
58,879
|
| Accretion of notes payable discount |
84,101
|
13,186
|
| Loss on extinguishment of debt |
2,072,365
|
|
| Loss on disposition of assets |
1,281
|
|
| Depreciation and amortization |
33,228
|
29,466
|
| Changes in assets and liabilities: |
|
|
| Decrease in prepaid and other assets |
114,279
|
83,888
|
| Increase in accounts payable and accrued expenses |
57,135
|
461,651
|
| Increase in deferred income |
196,936
|
|
| Net cash used in operating activities |
(2,218,965)
|
(756,371)
|
| Cash flows from investing activities: |
|
|
| Purchase of property and equipment |
(90,958)
|
(7,500)
|
| Net cash used by investing activities |
(90,958)
|
(7,500)
|
| Cash flows from financing activities: |
|
|
| Proceeds from debt financing |
|
213,450
|
| Proceeds from debt financing (related party) |
|
584,940
|
| Proceeds from sale of stock |
7,071,192
|
|
| Sale of stock offering costs |
(1,093,268)
|
|
| Principal payments on debt |
|
(14,950)
|
| Principal payments on debt (related party) |
(41,500)
|
|
| Net cash provided by financing activities |
5,936,424
|
783,440
|
| Net decrease in cash |
3,626,501
|
19,569
|
| Cash beginning of period |
998,737
|
33,805
|
| Cash end of period |
4,625,238
|
53,374
|
| Supplemental disclosure of cash flow information: |
|
|
| Interest paid |
73,523
|
10,050
|
| Income taxes paid |
|
|
| Schedule of non-cash investing and financing activities: |
|
|
| Stock issued for acquisition |
|
8,195
|
| Stock issued for services |
303,700
|
|
| Stock issued in debt conversion |
5,142,294
|
|
| Warrants issued in debt conversion |
650,166
|
|
| Warrants issued for services |
$ 256,198
|
|