• Filing Date: 2018-01-12
  • Form Type: 10-Q
  • Description: Quarterly report
v3.8.0.1
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,194,818) $ (913,406)
Adjustments to reconcile net loss to net cash used in operating activities:    
Derivative liability - initial valuation 1,384,997  
(Gain) loss on derivative revaluation (806,434) 136,960
Derivative liability gain (expense) - insufficient shares (300,766)  
Gain on conversion of debt (59,616)  
Depreciation 2,518 2,307
Amortization   30,000
Common stock issued for services 126,000 117,000
Amortization of debt discount 59,939 33,371
Amortization of debt discount due to beneficial conversion feature 276,602  
Changes in operating assets and liabilities:    
Accounts receivable 7,834 (128,323)
Inventory 22,831 129,772
Prepaid expenses   33,387
Accounts payable and accrued expenses (28,150) 71,819
Accrued interest 100,412 22,691
NET CASH USED IN OPERATING ACTIVITIES (408,651) (464,422)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets   (14,534)
NET CASH USED IN INVESTING ACTIVITIES   (14,534)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the sale of Series B Preferred Stock   250,000
Proceeds from notes payable 574,750 202,223
Repayments on notes payable (166,114)  
NET CASH PROVIDED BY FINANCING ACTIVITIES 408,636 452,223
NET DECREASE IN CASH (15) (26,733)
CASH AT THE BEGINNING OF THE PERIOD 47 32,205
CASH AT THE END OF THE PERIOD 32 5,472
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest paid 19,603 $ 11,114
Taxes paid  
Noncash transactions:    
Issuance of shares upon debt conversion $ 736,184