v3.19.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net (loss) from continuing operations $ (9,133,106) $ (5,712,049)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Depreciation 53,549 59,730
Loss (gain) from disposal of fixed assets 0 (874)
Loss (gain) from impairment of goodwill 0 1,459,725
Amortization of loan discount 825,206 765,901
Change in value of derivative liability 6,635,549 1,317,018
Stock based compensation 0 87,472
Convertible note issued for conversion cost reimbursement 13,520 18,880
Conversion cost penalty 668,897 0
Other Income 0 16,338
(Increase) decrease in:    
Accounts receivable (161,694) 61,898
Inventory 0 43,849
Deposits 5,000 0
Prepaids and other 203 (35,288)
Other assets (22,704) 345,274
Intangible assets 0 15,561
Increase (decrease) in:    
Accounts payable (344,156) (74,993)
Accrued expenses 390,000 135,910
Interest payable 146,917 169,896
Taxes payable 0 (4,500)
Accrued payroll taxes 0 39,149
Accrued officers' salaries 37,450 290,000
Other liabilities - deferred revenue (882,813) 112,893
Net cash provided by (used in) operating activities - Continuing (309,130) (888,210)
Net cash from discontinued operations - Operating 0 0
INVESTING ACTIVITIES    
Purchase of fixed assets 0 (852,000)
Disposal (Purchase) of fixed assets 0 91,847
Net cash provided by (used in) investing activities - Continuing 0 (760,153)
Net cash from discontinued operations - Investing 0 0
FINANCING ACTIVITIES    
Due to related party 37,450 100,806
Proceeds from convertible notes payable 193,500 890,605
Proceeds from notes payable - related party 0 27,393
Proceeds from notes payable 410,000 0
Repayments of convertible notes payable (235,763) 0
Repayments of convertible notes payables interest (67,394) 607,329
Repayments to line of credit (1,999) (9,343)
Net cash provided by financing activities - Continuing 335,794 1,616,790
Net cash from Discontinued Operations - Financing 0 0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 26,664 (31,573)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 118,307 230,407
CASH AND CASH EQUIVALENTS, END OF PERIOD 144,971 198,834
SUPPLEMENTARY DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid during the period for Interest 67,394 73,858
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Common stock issued upon conversion of notes payable 950,237 575,672
Common stock issued for settlement of accrued expense 0 240,000
Issuance of Preferred I and Common shares for acquisition 1,300,000 0
Conversion of preferred stock to common stock 0 5,097
Derivative resolution upon conversion 2,721,606 1,295,485
Goodwill 1,407,915 2,092,048
Debt discount from derivative liabilities $ 258,000 $ 675,792

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