v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net (Loss) from continuing operations $ (5,052,479) $ (4,871,847)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Depreciation 15,602 17,692
Amortization of loan discount 246,185 84,369
Change in value of derivative liability 4,467,534 3,923,226
Conversion cost penalty 4,000 10,520
Conversion cost reimbursement 0 532,496
(Increase) decrease in:    
Accounts receivable (5,233) 47,025
Deposits 0 12,699
Right of use - assets 13,152 0
Prepaids and other (14,239) 2,502
Due from related party 23,388 0
Increase(decrease) in:    
Accounts payable & Accrued expense 6,724 (146,921)
Accrued officers compensation 120,000 100,665
Accrued interest 24,843 99,259
Right of use - liabilities (13,152) 0
Deferred revenue 93,486 67,328
Net cash (used in) operating activities (70,189) (120,987)
Net cash from Discontinued Operations - Operating 24,363 0
INVESTING ACTIVITIES    
Net cash provided by (used in) investing activities 0 0
Net cash from Discontinued Operations - Investing 0 0
FINANCING ACTIVITIES    
Due to director and officer (4,500) 30,000
Proceeds from convertible notes payable 150,000 56,616
Proceeds from notes payable - related party 26,960 41,107
Repayments of interest payable 0 (52,020)
Repayments of convertible notes payable (10,632) (40,000)
Repayments of notes payable (4,534) (8,162)
Proceeds from line of credit 1,294 0
Distributions (84,957) 0
Net cash provided by financing activities 73,631 27,541
Net cash from Discontinued Operations - Financing 0 0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 3,442 (93,446)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 100,777 118,307
CASH AND CASH EQUIVALENTS, END OF PERIOD 104,219 24,861
SUPPLEMENTARY DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid during the period for Interest 20,580 52,020
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Common stock issued upon conversion of notes payable and accrued interest 129,522 825
Series I Preferred Stock issued for compensation 0 200,000
Derivative liability settled upon conversion 384,111 694,667
Debt discount from derivative liabilities $ 231,000 $ 0

Source