v3.19.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss attributable to controlling interests $ (2,487,374) $ (1,453,604)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense 24,242
Amortization of right of use asset 97,630
Depreciation 4,409 19,879
Loss on extinguishment of debt 90,061
Impairment of fixed assets 1,478
Deemed dividend 292,150
Stock-based compensation 1,119,336 486,092
Amortization of license agreement 25,205
Changes in operating assets and liabilities:    
(Increase) decrease in prepaid expense 28,574 (54,040)
(Increase) decrease in inventory (111,859) 80,891
(Increase) decrease in deposit (200,000)
(Increase) decrease in accounts receivable (2,015) (82,790)
(Increase) in other current assets (167,971)
Increase in accounts payable and accrued expenses (6,734) 140,342
Net cash used in operating activities (1,232,376) (923,722)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment (406,294) (2,935)
Deposits on machinery and equipment (22,500)
Net cash used in investing activities (428,794) (2,935)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from related party, net 303,300
Repayment of convertible notes payable (20,000)
Proceeds from notes payable and notes payable related 274,070
Repayment of note payable (50,000) (30,000)
Proceeds from sale of common stock 2,262,749 475,741
Net cash provided by financing activities 2,466,819 749,041
NET INCREASE (DECREASE) IN CASH 805,649 (177,616)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 121,831 188,738
CASH AND CASH EQUIVALENTS AT END OF PERIOD 927,480 11,122
Supplemental cash flow information:    
Cash paid for interest expense 10,180
Supplemental disclosure of non cash investing and financing activities:    
Related party forgiveness recorded as additional paid-in capital 215,300
Conversion of notes payable into common stock 509,178
Commons shares issued to acquire interest in joint venture $ 502,500

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