Annual report pursuant to Section 13 and 15(d)

Condensed Consolidated Statements Of Cash Flows (Audited)

v3.20.1
Condensed Consolidated Statements Of Cash Flows (Audited) - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ (20,180,318) $ (11,095,791)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss(gain) in fair value of trading securities (677,584) 560,000
Loss on sale of trading securities (105,013)
Bad debt expense 15,000 1,559
Depreciation and amortization 7,299 1,151,890
Loss on equity investment (90,859)
Share based compensation 3,222,092
Amortization of debt discount 2,906,843
Impairment loss on equity method investee 286,127
Impairment of investment in joint venture 720,921 933,195
Value of common stock issued for services 737,305
Value of vested options issued for services 245,001
Loss(gain) on settlement of debt (3,770,974) 1,594,933
Loss(gain) on change in fair value of derivative liability (2,123,570) 1,443,249
Interest expense recognized for the excess of fair value of derivative liability over net book value of notes payable at issuance 1,374,078 6,885,654
Imputed interest on stock-settled debt 147,115
Changes in operating assets and liabilities:    
Accounts receivable (13,059) 43,073
Inventory (37,814) 23,269
Prepaid expenses and other current assets (57,799)  
Accounts payable 171,629 394,003
Accrued expenses and other current liabilities (92,741) 649,316
Right-of-use assets (22,101)
Right-of-use liabilities 22,219
Accrued liabilities 322,068 99,316
Contingency Liability 1,497,674 1,676,870
Net cash provided by (used in) operating activities (2,816,282) (2,385,349)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment 2,381 682,255
Investment in joint venture 223,788 4,203
Net cash provided by (used in) investing activities (226,169) (686,458)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from stock sold for cash 90,000 421,237
Proceeds from issuance of notes payable 2,802,500 2,541,470
Proceeds from sale of cashless warrant 45,000
Repayments to related parties (42,861) 218,846
Net cash provided by (used in) financing activities 2,894,639 3,181,553
Net increase (decrease) in cash (147,812) 109,746
Cash-beginning of period 359,577 249,831
Cash-end of period 211,765 359,577
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest
Cash paid for taxes
Non cash financing activities:    
Common stock issued in settlement of related party notes payable 462,714 804,279
Common stock issued in settlement of convertible notes payable 3,016,750 12,166,976
Investment in joint venture $ 2,650,000