Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows from Operating Activities    
Net loss $ (2,238,988) $ (1,832,286)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 6,221 2,028
Amortization of intangibles 0 142,142
Amortization of debt discount 31,772 246,086
Debt conversion expense 356,400 68,694
Stock based compensation 605,833 261,991
Straight-line rent adjustment 0 295
Non-cash directors fees 0 5,000
Adjustment of fair value of warrant modification 0 25,720
Changes in operating assets and liabilities, net of effects of acquisition:    
Accounts receivable 0 33,045
Prepaid expenses 203,150 14,217
Accounts payable (5,025) (67,497)
Interest payable 0 (3,671)
Accrued liabilities (414,800) 48,755
Net Cash Used in Operating Activities (1,455,437) (1,055,481)
Cash Flows from Investing Activities    
Expenditures for property and equipment (3,080) (3,213)
Net Cash Used in Investing Activities (3,080) (3,213)
Cash Flows from Financing Activities    
Principal payments under note payable obligation (59,686) (40,249)
Proceeds from issuance of common stock, net of offering costs 1,923,248 0
Proceeds from issuance of warrants, net of offering costs 694,812 0
Net Cash Provided by (Used in) Financing Activities 2,558,374 (40,249)
Net Increase/(Decrease) in Cash 1,099,857 (1,098,943)
Cash - Beginning of period 892,814 1,570,167
Cash - End of period 1,992,671 471,224
Supplementary Cash Flow Information    
Cash paid for interest 3,037 2,756
Non-cash investing and financing activities    
Financing agreement for insurance policy 44,701 0
Conversion of note and accrued interest to common stock 0 1,072,513
Conversion of short-term loan to common stock 126,720 0
Issuance of common stock for consideration of cancellation of warrants 208,000 0
Repayment of due from stockholder through forgone director fees 0 5,000
Issuance of warrants for conversion of notes 305,201 0
Stock issued for board fees 239,826 0
Issuance of stock for preferred stock conversion $ 411 $ 0