Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,442,058) $ (1,088,887)
Adjustments to reconcile net loss to cash provided by (used in ) in operating activities:    
Depreciation 1,678 1,678
Stock based compensation 971,120 31,800
Amortization of prepaid insurance 42,150 41,917
Amortization of debt discount 805,474 109,867
Amortization of Intangible Assets 9,475 0
Changes in operating assets & liabilities:    
Increase in prepaid expenses (7,790) 0
Increase in prepaid insurance (85,000) (85,000)
Decrease in Inventory 2,666 (25,236)
Increase in due to First Insurance Funding 47,034 0
Decrease in accounts payable and accrued expenses (95,882) (28,230)
Increase in Security Deposits 0 (7,440)
Net cash used in operating activities (2,751,133) (1,049,531)
CASH FLOW FROM FINANCING ACTIVITIES:    
Proceeds from due to shareholders 7,500 0
Repayment of convertible notes (1,183,571) 0
Proceeds from loans receivable 0 500,000
Proceeds from convertible notes 0 3,940,000
Common stock issued under registration statement on Form S-3 1,784,532 0
Common stock issued per stock purchase agreement 600,000 0
Net cash provided by financing activities 1,208,461 4,440,000
Net increase in cash and cash equivalents (1,542,672) 3,390,469
Comprehensive income (loss) 0 0
Cash and cash equivalents at beginning of period 2,057,843 713,346
Cash and cash equivalents at end of period 515,171 4,103,815
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest 282,680 0
Income taxes - net of tax refund 0 0
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Common stock issued against common stock to be issued 15,000 20,064
Common stock issued against conversion of debt and interest 403,482 0
Debt discount and initial derivative liability at issuance of note $ 0 $ 1,320,000