General form of registration statement for all companies including face-amount certificate companies

Condensed Statements of Cash Flows

v3.10.0.1
Condensed Statements of Cash Flows - USD ($)
 6 Months Ended 12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Dec. 31, 2016
Cash Flows from Operating Activities:        
Net loss $ (4,128,941) $ (3,324,917) $ (5,941,457) $ (4,732,331)
Adjustment to reconcile net loss to net cash used in operating activities:        
Depreciation 62,014 57,867 119,627 29,891
Amortization of debt discount and debt issuance cost 853,552 544,602 1,089,204 289,367
Stock-based compensation expense 56,108 56,108 112,215 599,499
Changes in operating assets and liabilities:        
(Increase) in accounts receivable (1,176,140) (58,237) 19,639 (27,084)
(Increase) decrease in factor receivables 169,482 (329,784) (424,486) (200,357)
(Increase) in inventory (29,232) (84,735) 77,006 78,269
(Increase) decrease in prepaid expenses 5,500 (17,500) 32,500 (85,000)
(Increase) decrease in security deposits 8,553 (31,235) (31,235) (500)
Increase in accounts payable 828,609 1,093,172 1,959,692 (264,203)
Increase in accrued payroll taxes 352,325 38,428 352,105 73,829
Increase (decrease) in accrued interest (271,821) 231,630 607,109 92,467
Increase in accrued litigation 1,192,488    
Increase (decrease) in other current liabilities (16,224) 33,366 86,873
Increase in accrued liabilities 763,877 47,282 511,740 (39,334)
Net cash used in operating activities (1,329,850) (1,743,953) (1,429,468) (4,185,487)
Cash Flows from Investing Activities:        
Cash paid for purchase of property and equipment (61,846) (69,926) (353,083)
Net cash used in investing activities (61,846) (69,926) (353,083)
Cash Flows from Financing Activities:        
Proceeds from sale of preferred stock 1,201,157 1,145,000
Cash payment for debt modification (25,000)    
Cash proceeds from advances from officer 400,000    
Cash proceeds from note payable 100,000 4,210,322
Cash proceeds from loans payable, net 61,040 80,115    
Bank overdraft     (9,081)
Proceeds from sale of common stock     376,661
Proceeds from notes payable - related parties     400,000 300,000
Payments of notes payable - related parties     (300,000)
Proceeds from finance company     250,000
Payments to finance company     (318,500)
Payments for debt issuance cost     (25,000) (176,269)
Cash contribution by founders     3,225
Payment of advance from officer     (12,500)
Proceeds from short term advances     75,000
Payments on short term advances     (211,146)
Cash (payments) proceeds from loans payable     (165,188) 539,788
Net cash provided by financing activities 1,337,197 480,115 209,812 5,872,500
Net (decrease) increase in cash and cash equivalents 7,347 (1,325,684) (1,289,582) 1,333,930
Cash, beginning of the period 44,348 1,333,930 1,333,930
Cash, end of the period 51,695 8,246 44,348 1,333,930
Supplemental disclosures of cash flow information:        
Cash paid for income taxes
Cash paid for interest 466,181 487,826
Supplemental disclosures of non-cash investing and financing activities:        
Issuance of preferred stock as debt issuance cost 404,524 541,772
Issuance of warrants to investors 540,429    
Issuance of warrants as compensation for capital raise $ 27,021 109,965
Settlement of debt by issuance of common shares     $ 500,000