Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

v3.7.0.1
Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 7,878,096 $ 13,974,909
Adjustment to reconcile net income to net cash used in operating activities:    
Amortization of debt discounts 231,717 239,106
Shares issued for services 0 4,991,071
(Gain) loss on change in fair value of derivative liabilities (8,788,332) (21,974,032)
Loss on settlement of debt 0 1,442,308
Debt extension and modification expense 22,014 77,492
Changes in operating assets and liabilities:    
(Decrease) increase in accounts payable (166,072) 40,715
Increase (decrease) in accrued expenses 442,333 (281,638)
Net Cash Used in Operating Activities (380,244) (1,490,069)
CASH FLOWS FROM INVESTING ACTIVITIES: 0 0
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on convertible debt, net of original issue discounts 217,490 1,630,000
Borrowings on related party debt 130,010 0
Payments on related party debt (5,000) 0
Payments on convertible debt 0 (246,641)
Net Cash Provided by Financing Activities 342,500 1,383,359
NET CHANGE IN CASH AND CASH EQUIVALENTS (37,744) (106,710)
CASH AND CASH EQUIVALENTS - beginning of period 100,444 123,066
CASH AND CASH EQUIVALENTS - end of period 62,700 16,356
SUPPLEMENTAL DISCLOSURES:    
Cash paid for interest 0 37,499
Cash paid for income taxes 0 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Noncash Activity, Derivative Liabilities 721,178 1,177,721
Derivative liabilities recorded as debt discounts 150,471 0
Debt converted to common stock 763,390  
Common stock issued for conversion of debt 763,390 0
Accrued cash restructuring fees 10,875 33,000
Accrued Wages [Member]    
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Debt converted to common stock $ 0 $ 500,000