CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
|
6 Months Ended |
Jun. 30, 2017 |
Jun. 30, 2016 |
| CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
| Net (Loss) for the Period |
$ (2,056,874)
|
$ (1,963,368)
|
| Adjustments to reconcile net loss to net cash used by operating activities: |
|
|
| Common stock issued for services |
1,322,223
|
1,107,850
|
| Depreciation |
2,040
|
2,753
|
| Stock warrants/Stock Options issued for services |
56,964
|
30,000
|
| (Increase) decrease in: |
|
|
| Accounts receivables |
(44,321)
|
(87,122)
|
| Customer Contracts - Unrecognized Revenue |
(35,771)
|
|
| Prepaid expenses |
(84,059)
|
5,914
|
| Increase in: |
|
|
| Accounts payable & accrued expenses |
279,505
|
321,396
|
| Net Cash Used in Operating Activities |
(560,292)
|
(582,578)
|
| CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
| Cash acquired in acquisition |
51,500
|
|
| Purchase of property and equipment |
|
(4,319)
|
| Net Cash Flow from Investing Activities |
51,500
|
(4,319)
|
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
| Repayments on note payable |
(71,211)
|
(108,997)
|
| Proceeds from note payable |
285,000
|
25,000
|
| Proceeds from related party notes |
14,300
|
|
| Repayments on line of credit |
(5,425)
|
1,780
|
| Proceeds from issuance of common stock |
300,000
|
670,000
|
| Net Cash Provided by Financing Activities |
522,664
|
587,782
|
| Net (Decrease) Increase in Cash |
42,271
|
885
|
| Cash at Beginning of Period |
8,172
|
8,495
|
| Cash at End of Period |
20,044
|
9,380
|
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: |
|
|
| Cash paid during period: Interest |
5,763
|
3,477
|
| Cash paid during period: Franchise and income taxes |
|
|
| Noncash operating and financing activities: |
|
|
| Common Stock Issued for Services |
1,322,223
|
1,107,850
|
| Common Stock Warrants Issued for Services |
56,964
|
30,000
|
| Conversion of debt and accrued interest to common stock |
415,395
|
|
| Acquisition of Volerro |
$ 252,000
|
|