Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.19.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,147,827) $ (4,442,058)
Adjustments to reconcile net loss to cash provided by (used in) in operating activities:    
Depreciation 1,678 1,678
Stock based compensation 1,380,000 971,120
Amortization of prepaid insurance 51,740 42,150
Amortization of debt discount 37,325 805,474
Amortization of intangible assets 3,158 9,475
Increase in escrow receivable (138,400) 0
Changes in operating assets & liabilities:    
Increase in prepaid expenses (104,973) (7,790)
Increase in prepaid insurance (106,359) (85,000)
Increase in inventory (74,873) 2,666
Increase in due to First Insurance Funding 62,229 47,034
Increase in accounts payable and accrued expenses 904,468 (95,882)
Increase in customer deposit 275,000 0
Investment in Joint Venture (27,490) 0
Decrease in security deposits 5,837 0
Net cash used in operating activities (1,878,487) (2,751,133)
CASH FLOW FROM INVESTING ACTIVITIES: 0 0
CASH FLOW FROM FINANCING ACTIVITIES:    
Repayment of shareholders note (7,500) 7,500
Repayment of convertible notes 0 (1,183,571)
Common stock issued under registration statement on Form S-3 2,288,813 1,784,532
Common stock issued per stock purchase agreement 0 600,000
Net cash provided by financing activities 2,281,313 1,208,461
Net increase in cash and cash equivalents 402,826 (1,542,672)
Comprehensive income (loss) 0 0
Cash and cash equivalents at beginning of period 1,805,627 2,057,843
Cash and cash equivalents at end of period 2,208,453 515,171
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest 60,278 282,680
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Common stock issued against CS subscription 400,000 0
Common stock issued against common stock to be issued 48,500 15,000
Common stock issued against conversion of debt and interest $ 0 $ 403,482