Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

v3.19.1
Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (1,141,901) $ (1,381,201)
Adjustment to reconcile net loss to net cash used in operating activities:    
Amortization of debt discounts 306,448 487,044
Gain on sale of assets 0 (18,300)
Amortization of lease asset 3,000 0
Debt extension expense 55,000 0
Increase in accounts payable (85,302) (696,646)
Increase in accrued expenses 304,898 404,094
Net Cash Used in Operating Activities (557,857) (1,205,009)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from the sale of fixed assets 0 18,300
Net Cash Provided by Operating Activities 0 18,300
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on convertible debt, net of original issue discounts – related party 125,000 1,242,500
Borrowings on related party debt 292,000 0
Borrowings on debt, net of original issue discounts 300,000 0
Payments on notes payable (160,000) 0
Net Cash Provided by Financing Activities 557,000 1,242,500
NET CHANGE IN CASH AND CASH EQUIVALENTS (857) 55,791
CASH AND CASH EQUIVALENTS - beginning of period 25,745 11,773
CASH AND CASH EQUIVALENTS - end of period 24,888 67,564
SUPPLEMENTAL DISCLOSURES:    
Cash paid for interest 0 0
Cash paid for income taxes 0 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Beneficial conversion feature on convertible debt – related party $ 50,992 $ 1,175,584