Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
|
6 Months Ended |
Jun. 30, 2017 |
Jun. 30, 2016 |
| OPERATING ACTIVITIES: |
|
|
| Net loss |
$ (1,623,600)
|
$ (8,077,748)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation |
916
|
916
|
| Common stock issued for services |
1,950,000
|
3,975,653
|
| Common stock issued for acquistion contingency |
|
2,280,331
|
| Financing costs |
497,794
|
119,967
|
| Amortization of debt discounts |
223,370
|
108,814
|
| Change in value of derivative liability |
(1,382,550)
|
(97,697)
|
| Change in current assets and liabilities: |
|
|
| Accounts receivable |
7,590
|
(25,554)
|
| Prepaid consulting fees |
(24,000)
|
1,384,137
|
| Other current assets |
(7,000)
|
|
| Accounts payable |
46,038
|
221,069
|
| Accrued interest |
27,957
|
16,726
|
| Due to officer |
8,704
|
|
| Net cash used in operating activities |
(274,781)
|
(93,386)
|
| FINANCING ACTIVITIES: |
|
|
| Proceeds from convertible notes payable |
276,500
|
92,377
|
| Net cash provided by financing activities |
276,500
|
92,377
|
| NET INCREASE IN CASH |
1,719
|
(1,009)
|
| CASH, BEGINNING BALANCE |
1,497
|
1,790
|
| CASH, ENDING BALANCE |
3,216
|
781
|
| CASH PAID FOR: |
|
|
| Interest |
|
|
| Income taxes |
|
|
| SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES: |
|
|
| Beneficial conversion feature |
743,375
|
152,016
|
| Common stock issued for debt, accrued interest and fees |
109,851
|
|
| Debt issued for accounts payable |
|
50,861
|
| Penalties and fees added to convertible note |
14,719
|
|
| Fair value of beneficial conversion feature of debt converted |
$ 154,154
|
|