Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

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Consolidated Statements Of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (11,095,791) $ (33,441,920)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 5,341 2,576
Amortization of debt discount 1,146,549 1,042,999
Non cash interest 6,885,654 1,343,933
Bad debt expense 1,559
Value of common stock issued for services 737,305
Value of vested options issued for services (245,001)
Impairment of investment in joint venture 933,195 2,292,500
Unrealized gain on trading securities 560,000
(Gain) Loss on change in fair value of derivative liabilities 1,443,249 (4,329,743)
Fair value of liability warrants issued as inducement fee 3,407,900
Stock based compensation 19,879,333
Notes payable issued in settlement of accrued compensation and expenses incurred 599,390
(Gain) loss on settlement of debt 1,594,933 347,221
Loss on equity investment (90,859) (61,298)
Changes in operating assets and liabilities:    
Accounts receivable 43,073 (4,262)
Inventory 23,269 80,245
Security deposit (2,500)
Accounts payable 394,004 22,419
Accrued liabilities 99,316
Loss contingency 1,676,870
Accrued compensation 649,316 (10,210)
Net cash used in operating activities (2,385,349) (895,743)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of investments 682,255 1,160,775
Purchase of property and equipment 4,203 16,144
Net cash used in investing activities (686,458) (1,176,919)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of notes payable 2,541,470 1,576,500
Proceeds from issuance of notes payable, related party 218,846 513,507
Proceeds from sale of common stock 421,237 85,000
Net cash provided by financing activities 3,181,553 2,175,007
Net (decrease) increase in cash 109,746 102,345
Cash-beginning of period 249,831 147,486
Cash-end of period 359,577 249,831
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest paid
Taxes paid
Non cash financing activities:    
Common stock issued in settlement of related party notes payable 804,279 616,095
Common stock issued in settlement of convertible notes payable 12,166,976 84,000
Fair value of liability warrants canceled in settlement of debt 279,999
Common stock issued in connection with joint venture $ 388,500