CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
|
6 Months Ended |
Jun. 30, 2017 |
Jun. 30, 2016 |
| Cash flows from operating activities: |
|
|
| Net loss |
$ (910,233)
|
$ (29,303)
|
| Adjustments to reconcile net loss to net cash used in operations: |
|
|
| Depreciation |
442
|
|
| Stock compensation expense |
115,000
|
|
| Loss on investment in undivided interest in real estate |
3,945
|
|
| Security deposit used for rent payment |
|
7,026
|
| Changes in operating assets and liabilities: |
|
|
| Decrease (increase) in Interest receivable, related party |
24
|
(154)
|
| Decrease (increase) in Accounts receivable |
(70,810)
|
|
| Decrease (increase) in Inventory |
(4,410)
|
(2,922)
|
| Decrease (increase) in Deferred Commissions, stockholder |
133,334
|
|
| Decrease (increase) in Prepaid assets |
(34,357)
|
|
| Decrease (increase) in Other receivables |
|
(24,758)
|
| Decrease (increase) in Due from related party |
|
(64,366)
|
| Increase (decrease) in Accounts payable and accrued expenses |
37,298
|
73,175
|
| Increase (decrease) in Commissions payable, stockholder |
(96,000)
|
|
| Increase (decrease) in Deferred revenue |
625,000
|
|
| Increase (decrease) in Due to related party |
(8,607)
|
|
| Net cash used in operating activities |
(209,374)
|
(41,303)
|
| Cash flows from investing activities: |
|
|
| Purchase of intangible asset |
(3,000)
|
|
| Repayments of shareholder loans receivable |
2,563
|
|
| Investment in undivided interest in real estate |
(217,321)
|
|
| Net cash used in investing activities |
(217,758)
|
|
| Net decrease in cash and cash equivalents |
(427,132)
|
(41,303)
|
| Cash and cash equivalents, Beginning of period |
493,514
|
67,841
|
| Cash and cash equivalents, End of period |
66,382
|
26,538
|
| Supplemental disclosure of cash flow information: |
|
|
| Cash paid for interest |
1,638
|
8,521
|
| Cash paid for income taxes |
|
24,758
|
| Schedule of non-cash Investing or Financing Activity: |
|
|
| Issuance of note payable for investment in undivided interest in real estate |
$ 1,007,930
|
|