Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows From Operating Activities:    
Net loss $ (1,409,867) $ (1,073,846)
Adjustments to reconcile net loss to cash used in operating activities:    
Derivative (loss) gain 1,454,729 (436,650)
Stock-based compensation 2,005,861 0
Amortization of discount and debt issuance costs for convertible notes 339,806 99,078
Amortization of intangible assets 52,688 0
Non-cash interest expense 0 12,223
(Gain) loss on settlement of debt (3,007,629) 257,801
(Increase) decrease in operating assets:    
Inventory (422,819) 0
Advance to supplier - related party (1,017,225) 0
Prepaid expenses (46,250) (35,046)
Increase (decrease) in operating liabilities:    
Accounts payable 233,560 (2,989)
Accrued expenses (21,561) 885,456
Settlement payable 0 (3,000)
Interest payable 4,951 1,693
Net Cash Used In Operating Activities (1,833,755) (295,280)
Cash Flows From Investing Activities:    
Purchase of membership interest in subsidiary (300,000) 0
Purchase of property and equipment (28,500) 0
Net Cash Used In Investing Activities (328,500) 0
Cash Flows From Financing Activities:    
Proceeds from sale of Series D preferred stock 0 50,000
Proceeds from sale of Common Stock 3,309,653 0
Payments of principal on notes payable (11,129) 0
Proceeds from issuance of notes payable 14,229 100,000
Payments of principal on convertible notes (186,443) (25,000)
Proceeds from issuance of convertible notes, net of issuance cost 206,900 48,000
Net Cash Provided By Financing Activities 3,333,210 173,000
Net (decrease) increase in cash and cash equivalents 1,170,955 (122,280)
Cash and cash equivalents at beginning of period 1,960 161,215
Cash and cash equivalents at end of period 1,172,915 38,935
Supplemental Cash Flow Information:    
Cash paid for interest 22,166 0
Cash paid for taxes 0 0
Non-Cash transactions investing and financing activity:    
Increases in convertible note, principal 0 16,500
Proceeds from sale of Series D preferred stock paid directly to settle amounts due to officers and directors 0 500,000
Proceeds from sale of Series A preferred stock paid directly to settle debts 55,090 0
Convertible notes and interest payable settled by Series A preferred stock issued 849,360 0
Note payable, accrued expense and interest payable settled by common stock issued 40,616 0
Convertible notes settled by common stock issued 196,000 0
Accounts payable settled by common stock issued 0 85,934
Common stock issued for purchase of membership interest in subsidiary 990,000 0
Increase in intangible assets for subscription payable 1,650,000 0
Initial fair value of derivative liabilities as debt discount on convertible notes 206,910 58,500
Initial derivative liability on convertible notes 0 94,000
Preferred deemed dividend 904,450 0
Operating lease right-of-use assets and operating lease liabilities recorded upon adoption of ASC 842 310,093 0
Reduction of operating lease right-of-use asset and operating lease liabilities $ 7,416 $ 0