v3.10.0.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows from Operating Activities:    
Net loss $ (7,137,615) $ (4,649,911)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation 93,021 88,619
Amortization of debt discount and debt issuance cost 1,443,955 816,903
Stock issued in settlement of litigation 939,538
Stock-based compensation expense 654,608 84,162
Changes in operating assets and liabilities:    
Increase in accounts receivable (826,221) (148,501)
Decrease in factor receivables 437,392 107,190
(Increase) decrease in inventory 54,218 (107,651)
(Increase) decrease in prepaid expenses 5,500 (27,500)
(Increase) decrease in security deposits 8,553 (31,235)
Increase in accounts payable 1,382,332 1,631,663
Increase in accrued payroll taxes 349,285 188,939
Increase in accrued interest 635,717 489,862
Decrease in other current liabilities (25,439) 53,386
Increase in accrued liabilities 271,392 101,153
Net cash used in operating activities (1,713,764) (1,402,921)
Cash Flows from Investing Activities:    
Cash paid for purchase of property and equipment (69,925)
Net cash used in investing activities (69,925)
Cash Flows from Financing Activities:    
Proceeds from sale of convertible preferred stock 1,201,157
Cash payment for debt modification (25,000)
Cash payment for public offering cost (38,000)
Cash proceeds from advances from officer 400,000
Cash proceeds from notes payable, net 752,579
Cash payments for loans payable (162,711) (252,044)
Net cash provided by financing activities 1,728,025 147,956
Net increase (decrease) in cash and cash equivalents 14,261 (1,324,890)
Cash, beginning of the period 44,348 1,333,930
Cash, end of the period 58,609 9,040
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 800 822
Cash paid for interest
Supplemental disclosures of non-cash investing and financing activities:    
Unpaid deferred public offering costs 130,565
Issuance of preferred stock as debt issuance cost 667,023
Issuance of warrants as compensation for capital raise 53,864
Issuance of warrants to investors $ 540,429

Source