v3.19.1
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:    
Net loss $ (2,490,705) $ (1,414,050)
Adjustments to reconcile net loss to net cash used in operations    
Non-cash interest expense 1,544,557
Amortization and depreciation 38,229 621
Loss on fair value change of derivatives 33,787
Gain on extinguishment of debt (661,854)
Stock based compensation 334,333  
Issuance of convertible notes for fees 25,500
Changes in operating assets and liabilities:    
Inventory 11,359
Accounts receivable (35,123)
Advances to vendor (86,149)  
Prepaid assets (6,620) 3,766
Accounts payable and accrued expenses 176,743 100,299
Accounts payable and accrued expenses, related parties 306,067 342,567
Net cash used in operating activities (835,376) (941,297)
Cash flows from investing activities:    
Cash acquired in acquisitions 21,580
Purchase of office and computer equipment (7,646) (1,944)
Payment of license fees (250,000)
Payments for extensions of patents
Net cash used in investing activities (236,066) (1,944)
Cash flows from financing activities:    
Redemption of common shares (350,000)
Proceeds from issuances of convertible notes payable 1,333,000
Proceeds from issuances of notes payable 200,000 250,000
Proceeds from sale of common stock 300,000 710,000
Payments of principal of convertible note payable and notes payable (471,812)
Net cash provided by financing activities 1,011,188 960,000
Effects of exchange rate on cash and cash equivalents 122 8,116
Net decrease in cash and cash equivalents (60,132) 24,875
Cash and cash equivalents, Beginning of period 111,035 86,160
Cash and cash equivalents, End of period 50,903 111,035
Supplemental disclosure of cash flow information:    
Cash paid for interest 24,947 28,250
Cash paid for income taxes
Schedule of non-cash Investing or Financing Activity:    
Original issue discount included in notes payable 224,425
Issuance of common stock upon convertible note and accrued interest conversion 774,893
Issuance of convertible notes payable for consulting fees $ 25,500
Acquisition of Spinus, LLC    
Acquisitions    
Issuance of Common stock as consideration 250,000  
Assumed liabilities 278,779  
Accounts receivable (19,054)  
Other Assets (250,000)  
Goodwill (239,151)  
Cash acquired 20,574  
Acquisition of Newmarkt    
Acquisitions    
Issuance of Common stock as consideration 2,798  
Assumed liabilities 62,464  
Paid in capital (53,990)  
Inventory (8,359)  
Prepaid expenses (1,907)  
Cash acquired $ 1,006  

Source