Current report filing

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,286,848) $ (1,059,910)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 8,866 9,458
Bad debt expense (recovery) (400) 0
Amortization of debt discount to interest expense 31,302 0
Stock-based compensation 1,730,811 652,420
Stock-based professional fees 18,333 0
Change in operating assets and liabilities:    
Accounts receivable 876 (42,899)
Inventory (1,410) 2,150
Prepaid expenses and other assets 771 0
Accounts payable 85,778 38,321
Accrued expenses 55,389 (5,028)
Accrued compensation 59,000 2,219
NET CASH USED IN OPERATING ACTIVITIES (297,532) (403,269)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment 0 (3,101)
NET CASH USED IN INVESTING ACTIVITIES 0 (3,101)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of stock options 10,000 0
Proceeds from convertible note payable 260,000 0
NET CASH PROVIDED BY FINANCING ACTIVITIES 270,000 0
NET DECREASE IN CASH (27,532) (406,370)
CASH, beginning of period 46,448 596,910
CASH, end of period 18,916 190,540
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest 0 0
Cash paid for income taxes 0 0
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Beneficial conversion feature reflected in debt discount 260,000 0
Common stock issued as prepaid for services 68,750
Common stock issued for accrued compensation 392,577
Common stock issued for debt and accrued interest $ 105,833