Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

v3.7.0.1
Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 2,382,271 $ 23,369,809
Adjustment to reconcile net income to net cash used in operating activities:    
Amortization of debt discounts 629,353 517,227
Shares issued for debt transfer fees 127,400 0
Shares issued for services 0 6,346,711
Gain on change in fair value of derivative liabilities (4,825,687) (34,124,945)
Loss on settlement of related debt 27,430 1,442,308
Gain on settlement of account payable (51,835) 0
Debt issued for default and standstill fees 98,849 77,492
Changes in operating assets and liabilities:    
(Decrease) increase in accounts payable (357,170) 575,216
Increase in accrued expenses 645,059 878
Net Cash Used in Operating Activities (1,324,330) (1,795,304)
CASH FLOWS FROM INVESTING ACTIVITIES: 0 0
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on convertible debt, net of original issue discounts 1,215,943 1,810,000
Borrowings on related party debt 130,010 26,000
Borrowings on debt, net of original issue discounts 0 100,000
Payments on related party debt (30,000) (1,000)
Payments on convertible debt (25,000) (246,641)
Net Cash Provided by Financing Activities 1,290,953 1,688,359
NET CHANGE IN CASH AND CASH EQUIVALENTS (33,377) (106,945)
CASH AND CASH EQUIVALENTS - beginning of period 100,444 123,066
CASH AND CASH EQUIVALENTS - end of period 67,067 16,121
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 1,105,486 1,348,721
Common stock issued for convertible debt and interest 1,936,687 0
Common stock issued for settlement of related party debt 99,970 0
Reclassification of derivatives to equity upon conversion 1,655,656 0
Reclassification of derivatives to equity upon release from tainting 12,652,754 0
Accrued cash restructuring fees 54,237 42,000
Accrued Wages [Member]    
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Debt converted to common stock $ 1,000,000 $ 500,000