Current report filing

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (8,299,692) $ (5,872,268)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 38,295 34,545
Bad debt expense 16,894 71,582
Amortization of debt discount to interest expense 2,917 0
Stock-based compensation 6,772,752 4,365,964
Change in operating assets and liabilities:    
Accounts receivable (37,757) (49,851)
Inventory 458 25,252
Prepaid expenses and other assets (771) 4,000
Accounts payable 99,542 (94,119)
Accrued expenses 79,153 (9,679)
Accrued compensation 243,701 (109,057)
NET CASH USED IN OPERATING ACTIVITIES (1,084,508) (1,633,631)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (3,454) (31,327)
NET CASH USED IN INVESTING ACTIVITIES (3,454) (31,327)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of member units 437,500 1,000,000
Proceeds from exercise of stock options 0 50,000
Proceeds from convertible notes payable 150,000 0
Repayment of convertible note payable (50,000) 0
Proceeds from subscription receivable 0 950,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 537,500 2,000,000
NET (DECREASE) INCREASE IN CASH (550,462) 335,042
CASH, beginning of year 596,910 261,868
CASH, end of year 46,448 596,910
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest 675 0
Cash paid for income taxes 0 0
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Beneficial conversion feature reflected in debt discount $ 10,000 $ 0