Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.19.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:    
Net Loss $ (3,601,217) $ (1,584,873)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 159,902 67,001
Impairment of goodwill 1,246,002
Stock-based compensation 175,076 49,756
Issuance of common stock and common stock warrants for consulting services 330,000 39,895
(Gain)/loss on extinguishment of debt (2,374) 81,541
Change in fair value of warrant liabilities (400,225) (639,435)
Change in fair value of derivative liabilities (83,287) (904,896)
Provision for inventory obsolescence 31,752 12,997
Amortization of debt discount and deferred finance cost 624,608 1,510,782
Warrants issued for extension of debt 21,121
Changes in operating assets and liabilities    
Accounts receivable 204 4,423
Inventory 5,776 3,578
Prepaid expenses and other current assets (243,552) (131,829)
Accounts payable 46,354 (20,217)
Accrued expenses 806,019 243,455
Deferred revenue (7,380)
Net cash used in operating activities (883,841) (1,275,202)
Cash flows from investing activities    
Cash acquired through CureDM purchase 3,592
Purchase of property and equipment (4,704)
Net cash provided by (used in) investing activities 3,592 (4,704)
Cash flows from financing activities    
Proceeds from issuance of notes payable to related parties 480,437
Proceeds from issuance of convertible notes payable, related party 200,000
Repayment of notes payable, related party (20,000)
Proceeds from issuance of preferred stock 275,000 550,000
Net cash provided by financing activities 755,437 730,000
Net decrease in cash (124,812) (549,906)
Cash, beginning of year 137,279 687,185
Cash, end of year 12,467 137,279
Cash paid during the year for:    
Interest
Income taxes
Non-cash financing activities:    
Issuance of common stock for the acquisition of CureDM Groups Holdings LLC 1,250,000
Issuance of note payable for marketing services 450,000
Conversion of convertible notes payable plus accrued interest into common stock 1,277,066 198,781
Derivative liabilities associated with issuance of preferred stock 226,833 547,466
Conversion of convertible notes payable related party plus accrued interest into common stock   700,000
Derivative liability associated with convertible note payable 10,617
Loss on extinguishment of convertible note payable related party charged to additional paid in capital $ 170,813