Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,892,442) $ (1,944,415)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 17,557 18,915
Bad debt expense (recovery) (1,277) 0
Amortization of debt discount to interest expense 40,691 417
Stock-based compensation 3,264,666 1,237,016
Stock-based professional fees 70,417 0
Loss on debt extinguishment 380,171 0
Change in operating assets and liabilities:    
Accounts receivable 2,689 (48,413)
Inventory 5,194 10,511
Prepaid expenses and other assets 741 (2,092)
Accounts payable 119,997 55,379
Accrued expenses 2,201 (5,745)
Accrued compensation 16,986 30,534
NET CASH USED IN OPERATING ACTIVITIES (1,042,826) (647,893)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash acquired in recapitalization 187,401 0
Purchases of property and equipment 0 (3,101)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 187,401 (3,101)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of stock 1,267,500 0
Proceeds from exercise of stock options 40,000 0
Repayment of convertible note payable (260,000) 0
Proceeds from convertible note payable 260,000 100,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 1,307,500 100,000
NET INCREASE (DECREASE) IN CASH 452,075 (550,994)
CASH, beginning of period 46,448 596,910
CASH, end of period 498,523 45,916
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest 6,696 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 10,000
Common stock issued as prepaid for services 18,333 0
Common stock issued for accrued compensation 392,577 0
Common stock issued for debt and accrued interest 105,833 0
Common stock issued for accrued settlement $ 114,915 $ 0