Cash Flow

v3.19.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
OPERATING ACTIVITIES:    
Net loss $ (8,475,313) $ (10,323,992)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization expense of debt discount 1,409,790
Gain on derivative liability (1,831,635)
Loss on debt extinguishment 681,988
Depreciation 37,984 36,723
Loss on inventory obsolescence 565,406 6,366
Loss on disposal of property and equipment 10,002
Amortization expense of intangible assets 292,000 292,000
Stock based compensation 4,746,605 6,602,806
Changes in current assets and liabilities:    
Accounts receivable 92,065 283,935
Inventory 118,366 (538,178)
Prepaid expenses and other current assets 13,395 17,606
Accounts payable and accrued expense 279,665 (88,563)
Due from related party (67,906) 125,132
Net cash used in operating activities (2,387,731) (3,326,022)
INVESTING ACTIVITIES:    
Cash received from sale of fixed assets 60,000
Cash paid on fixed assets (5,279) (73,817)
Net cash provided by (used in) investing activities 54,721 (73,817)
FINANCING ACTIVITIES:    
Proceeds from related party convertible note payable 1,000,000 1,000,000
Proceeds from bank line of credit 1,000,000 1,000,000
Proceeds from related party promissory note 100,000  
Repayment of related party promissory note (100,000)  
Proceeds from sale of common stock 2,000,000
Net cash provided by financing activities 4,000,000 2,000,000
NET INCREASE (DECREASE) IN CASH 1,666,990 (1,399,839)
CASH, beginning of period 615,375 2,015,214
CASH, end of period 2,282,365 615,375
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest 407,096 86,750
Noncash investing and financing activities for the year ended December 31:    
Conversion of 2016 related party convertible notes payable 3,088,705
Conversion of 2017 related party convertible note payable 2,015,370
Conversion of Series A preferred stock to common stock $ 25

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