Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.19.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (5,011,446) $ (5,775,754)
Adjustments to reconcile net loss to cash provided by (used in ) in operating activities:    
Depreciation 2,517 2,517
Stock based compensation 1,615,000 1,003,840
Amortization of prepaid insurance 79,299 65,674
Amortization of debt discount 56,195 998,736
Amortization of intangible assets 3,158 9,475
Increase in unrealized gain marketable securities (273,720) 0
Increase in realized gain on Marketable Securities (190,459) 0
Loss on extinguishment asset & liabilities 0 114,723
Non-cash revenue (57,400) 0
Changes in operating assets & liabilities:    
Increase in accounts receivable (38,747) 0
Increase in prepaid expenses (44,622) (6,758)
Increase in prepaid insurance (107,504) (101,439)
Increase in inventory (455,829) 5,373
Increase in due to First Insurance Funding 34,613 23,186
Increase in accounts payable and accrued expenses 779,708 (142,814)
Decrease in security deposit 6,816 0
Investment in Joint Venture (27,490) 0
Net cash used in operating activities (3,629,911) (3,803,241)
CASH FLOW FROM INVESTING ACTIVITIES:    
Proceeds from Sale of Marketable Securities 177,493 0
Net cash provided by Investing activities 177,493 0
CASH FLOW FROM FINANCING ACTIVITIES:    
Proceeds from due to shareholders 0 407,500
Repayment of convertible notes (7,500) (1,965,609)
Repayment of related party loans (78,916) 0
Common stock issued under registration statement on Form S-3 2,400,624 3,335,732
Common stock issued per stock purchase agreement 500,000 600,000
Net cash provided by financing activities 2,814,208 2,377,623
Net decrease in cash and cash equivalents (638,210) (1,425,618)
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 1,167,417 632,225
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest 60,278 349,169
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Common stock issued against CS subscription 400,000 0
Common stock issued against common stock to be issued 56,000 15,000
Common stock issued against conversion of debt and interest $ 0 $ 803,267