Cash Flow

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
OPERATING ACTIVITIES:    
Net loss $ (10,323,992) $ (8,533,515)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on derivative liability (1,831,635) (562,961)
Amortization expense of debt discount 1,409,790 302,818
Loss on debt extinquishment 681,988
Depreciation expense 36,723 33,789
Amortization expense of intangible assets 292,000 170,333
Gain on settlement of make whole provision (11,000)
Gain on settlement of debt (75,000)
Stock based compensation 6,602,806 5,553,026
Changes in current assets and liabilities:    
Accounts receivable 283,935 (310,712)
Inventory (531,812) (341,090)
Prepaid expenses and other current assets 17,606 (64,990)
Accounts payable and accrued expense (88,563) 213,165
Due to related party 125,132 40,849
Deferred revenue (7,896)
Net cash used in operating activities (3,326,022) (3,593,184)
INVESTING ACTIVITIES:    
Cash paid for purchase of fixed assets (73,817) (16,336)
Net cash used in investing activities (73,817) (16,336)
FINANCING ACTIVITIES:    
Proceeds from related party convertible note payable 1,000,000
Proceeds from bank line of credit 1,000,000
Cash repayment on OTCC loan (35,000)
Proceeds from convertible Note Payable Series 2016 3,000,000
Net cash provided by financing activities 2,000,000 2,965,000
NET INCREASE (DECREASE) IN CASH (1,399,839) (644,520)
CASH, beginning of period 2,015,214 2,659,734
CASH, end of period 615,375 2,015,214
Cash paid during the year ended December 31:    
Interest 86,750 327
Noncash investing and financing activities for the year ended December 31:    
Common Stock issued for Adaptive Flight asset purchase make whole provision 150,500
Conversion of Series A preferred stock to common stock 25
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
Derivative liability on reset provision of Convertible Notes Payable Series 2016 2,394,974
Stock Issued for November 2015 PIPE Investors as consent shares $ 50

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