Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.8.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities    
Net loss $ (1,987,525) $ (1,715,505)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Amortization and depreciation 70,122 463,852
Common stock issued for services 1,006,182 1,025,029
Amortization of debt discount 80,331 2,860
(Gain) on debt settlement (2,913)
Loss on change in fair value of derivative liability 587,548
Changes in operating assets and liabilities:    
Accounts receivable 12,457 56,207
Prepaid expenses (2,000)
Deferred revenue (146,100) (352,540)
Credit card liability 72,892
Accounts payable and accrued expenses 174,633 155,597
Net cash used in operating activities (205,265) (293,608)
Financing activities    
Loan proceeds 200,000 500,000
Loan repayment (265,263) (442,680)
Common stock sold for cash 240,000 190,000
Advances from related party, net of repayment 33,000 40,000
Net cash provided by financing activities 207,737 287,320
Net increase (decrease) in cash and cash equivalents 2,472 (6,288)
Cash and cash equivalents, beginning of period 63,709 69,489
Cash and cash equivalents, end of period 66,181 63,201
Supplemental cash flow information    
Interest 118,542 23,665
Income taxes
Non-cash investing and financing activities:    
Common stock issued for loan costs 300,000
Common stock issued for debt conversions 804,545
Common stock issued for settlement of accrued expenses 248,605
Common stock issued for services in prepaid expenses 29,856
Common stock issued for deposit on acquisition $ 1,200,000