Financials

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current Assets    
Cash $ 245,026 $ 892,814
Accounts receivable 157,069
Other receivables 86,888
Inventory 294,714
Prepaid expenses 204,532 364,822
Short-term receivable 150,000
Total Current Assets 1,138,229 1,257,636
Long Term Receivable 150,000
Property and Equipment, net of accumulated depreciation 87,173 97,590
Deposits 2,751 2,751
Total Assets 1,228,153 1,507,977
Current Liabilities    
Interest payable 69,222 69,222
Accounts payable 196,171 225,725
Accounts payable to related parties 12,319
Accrued liabilities 64,000 459,800
Notes payable, current portion 132,294 126,086
Short-term note payable, net of debt discount 970,240
Unearned revenue 1,048
Total Current Liabilities 475,054 1,851,073
Long-Term Liabilities    
Notes payable, net of current portion 38,990 103,742
Deferred rent 688 1,179
Total Long-Term Liabilities 39,678 104,921
Total Liabilities 514,732 1,955,994
Stockholders' Equity (Deficit)    
Preferred stock - $.001 par value: 500,000 shares authorized, 12,740 shares issued and outstanding at December 31,2017, no shares issued issued and outstanding at December 31, 2016 13
Common stock - $.001 par value: 49,500,000 shares authorized, 21,163,013 and 14,855,181 shares issued and outstanding at December 31, 2017 and December 31, 2016, respectively 21,163 14,855
Additional paid-in capital 33,509,648 25,898,054
Accumulated deficit (32,817,403) (26,360,926)
Total Stockholders' Equity (Deficit) 713,421 (448,017)
Total Liabilities and Stockholders' Equity (Deficit) $ 1,228,153 $ 1,507,977

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v3.8.0.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Income Statement [Abstract]    
Revenues $ 207,396
Less: Discounts allowed (52)
Cost of Goods Sold (162,837)
Gross Profit 44,507
Operating Expenses    
General and administrative 4,721,893 4,872,626
Sales & Marketing 865,377 391,698
Research and development 491,076 1,126,535
Depreciation and amortization 27,100 11,267
Impairment of goodwill 6,455,645
Total Operating Expenses 6,105,446 12,857,771
Operating Loss (6,060,939) (12,857,771)
Other Income 957
Other Expenses    
Interest expense 395,332 455,304
Total Other Expenses 395,322 455,304
Loss from Continuing Operations (6,455,314) (13,313,075)
Discontinued Operations    
Loss from discontinued operations 1,163 477,497
Impairment loss 1,584,048
Disposal loss 852,864
Total Loss from Discontinued Operations (1,163) (2,914,409)
Net Loss $ (6,456,477) $ (16,227,484)
Loss per share - Basic and Diluted    
Continued Operations $ (0.34) $ (1.00)
Discontinued Operations (0.22)
Net Loss per share $ (0.34) $ (1.22)
Weighted average outstanding shares used to compute basic and diluted net loss per share 19,142,795 13,250,789

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v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash Flows from Operating Activities    
Net loss $ (6,456,477) $ (16,227,484)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 27,100 11,396
Amortization of intangible assets 189,522
Amortization of debt discount 31,773 357,297
Debt conversion expense 355,985 68,694
Intangible asset impairment loss 1,584,048
Goodwill impairment loss 6,455,645
Disposal loss (852,864)
Stock based compensation 683,169 776,968
Straight-line rent adjustment (491) 688
Common stock issued for consulting services 114,500 249,300
Non-cash directors fees 20,000
Adjustment of fair value of warrant modification 25,720
Changes in operating assets and liabilities, net of effects of acquisition and disposition:    
Accounts receivable (157,069) 33,045
Other receivables (86,888)
Prepaid expenses 229,632 (128,400)
Inventory (294,714)
Unearned revenue 1,048
Accounts payable (29,554) (52,584)
Interest payable (3,670)
Accounts payable to related parties 12,319
Accrued liabilities (20,800) 359,483
Net Cash Used in Operating Activities (5,590,467) (5,427,468)
Cash Flows from Investing Activities    
Proceeds from disposition of, net assets of Streamline Inc. 500,000
Expenditures for property and equipment (16,682) (85,133)
Net Cash (Used in) Provided by Investing Activities (16,682) 414,867
Cash Flows from Financing Activities    
Principal payments under note payable obligation (127,885) (136,022)
Proceeds from issuance of common stock, net of offering costs 3,838,671 2,778,256
Proceeds from issuance of warrants, net of offering costs 1,248,575 833,985
Proceeds from issuance of short term debt 859,029
Net Cash Provided by Financing Activities 4,959,361 4,335,248
Net Decrease in Cash (647,788) (677,353)
Cash - Beginning of period 892,814 1,570,167
Cash - End of period 245,026 892,814
Cash paid for interest 7,161 11,469
Non-cash investing and financing activities    
Finance agreement for insurance policy 69,343 66,582
Conversion of note and accrued interest to common stock and preferred stock 826,874 1,072,513
Conversion of short-term loan to common stock 145,919
Issuance of warrants for conversion of note 177,207
Issuance of common stock for consulting services 114,500 249,300
Common stock issued for board fees 375,000
Issuance of common stock for preferred stock conversion 931
Issuance of common stock warrants for placement agent fees 153,688
Repayment of due from stockholder through forgone director fees 20,000
Note receivable from disposition of Streamline $ 150,000

Source

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