Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
OPERATING ACTIVITIES:    
Net loss $ (1,123,394) $ (1,240,516)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on derivative liability (753,798)
Depreciation 8,772 8,127
Amortization expense of intangible assets 73,000
Amortization expense of debt discount 436,962  
Stock based compensation 633,609 717,217
Changes in current assets and liabilities:    
Accounts receivable 236,150 (386,645)
Inventory (23,047) (27,722)
Prepaid expenses and other current assets 30,241 1,031
Accounts payable and accrued expense (122,936) 30,254
Due from related party 44,384 (6,000)
Deferred revenue (7,896)
Net cash used in operating activities (560,057) (912,150)
INVESTING ACTIVITIES:    
Cash paid on furniture and equipment (675) (5,641)
Net cash used in investing activities (675) (5,641)
FINANCING ACTIVITIES:    
Net cash provided by financing activities
NET DECREASE IN CASH (560,732) (917,791)
CASH, beginning of period 2,015,214 2,659,734
CASH, end of period 1,454,482 1,741,943
Cash paid during the quarters ended March 31:    
Interest 140
Noncash investing and financing activities for the quarters ended March 31:    
Conversion of Series C preferred stock to common stock 18
Conversion of Series D preferred stock to common stock 5
Conversion of Series F preferred stock to common stock 5
Conversion of Series G preferred stock to common stock $ 5