Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
2 Months Ended 12 Months Ended
Dec. 31, 2014
Dec. 31, 2015
Operating activities    
Net loss $ (6,923) $ (1,336,103)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization and depreciation 8,371 $ 501,091
Gain on bargain purchase (54,080)
Common stock of Ksix Media, Inc. issued for services $ 40,000 $ 62,880
Bad debt expense 97,406
Amortization of debt discount 6,365
Changes in operating assets and liabilities:    
Accounts receivable $ (3,486) (86,040)
Prepaid expenses $ 253 3,000
Deferred revenue 229,520
Accounts payable and accrued expenses $ (7,977) 176,322
Credit card liability 121,038
Net cash used in operating activities $ (23,842) (224,521)
Investing activities    
Purchase of property and equipment (9,732)
Cash paid in acquisition of DigitizeIQ, LLC (250,000)
Refund from seller of DigitizeIQ, LLC 150,000
Cash received in acquisition of DigitizeIQ, LLC $ 128,063
Cash paid in acquisition of KSIX and BMG $ (50,000)
Cash received in acquisition of KSIX and BMG 31,334
Net cash provide by (used in) investing activities $ (18,666) $ 18,331
Financing activities    
Sale of common stock for cash 300,065
Advances from related party, net of repayment $ 80,325 237,677
Loan repayment (299,880)
Net cash provided by financing activities $ 80,325 237,862
Net increase in cash and cash equivalents $ 37,817 31,672
Cash and cash equivalents, beginning of period 37,817
Cash and cash equivalents, end of period $ 37,817 69,489
Supplemental cash flow information    
Interest $ 7,158
Income taxes
Non-cash investing and financing activities:    
Common stock issued for public relation services contract $ 14,880
Note payable issued in acquisition of KSIX and BMG $ 950,000
Notes payable issued in acquisition of DigitizeIQ, LLC $ 750,000
Common stock issued in acquisition of DigitizeIQ, LLC $ 475,000