Annual report pursuant to Section 13 and 15(d)

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 $ (33,441,920) $ (5,402,456)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 2,576
Amortization of debt discount 1,042,999 401,138
Non cash interest 1,343,933 114,911
Impairment of investment in joint venture 2,292,500
Loss (gain) on change in fair value of derivative liabilities (4,329,743) 14,208
Fair value of liability warrants issued as inducement fee 3,407,900
Stock based compensation 19,879,333 4,147,629
Notes payable issued in settlement of accrued compensation and expenses incurred 599,390 357,500
(Gain) loss on settlement of debt 347,221 (147,785)
Loss on equity investment (61,298)
Changes in operating assets and liabilities:    
Accounts receivable (4,262) 9,124
Inventory 80,245 83,475
Security deposit (2,500)
Accounts payable 22,419 65,576
Accrued compensation (10,210) 32,710
Net cash used in operating activities (895,743) (242,014)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of investments 1,160,775
Purchase of property and equipment 16,144
Net cash used in investing activities (1,176,919)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of notes payable 1,576,500 40,000
Proceeds from issuance of notes payable, related party 513,507
Proceeds from sale of common stock 85,000 349,500
Net cash provided by financing activities 2,175,007 389,500
Net (decrease) increase in cash 102,345 147,486
Cash-beginning of period 147,486
Cash-end of period 249,831 147,486
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest paid
Taxes paid
Non cash financing activities:    
Beneficial conversion feature related to convertible notes payable 361,138
Common stock issued in settlement of related party notes payable 616,095 796,161
Common stock issued in settlement of convertible notes payable 84,000
Fair value of liability warrants canceled in settlement of debt 279,999
Common stock issued in connection with joint venture $ 388,500