• Filing Date: 2019-04-16
  • Form Type: 10-K
  • Description: Annual report
v3.19.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash flow from operating activities:    
Net loss $ (834,846) $ (256,825)
Adjustments to reconcile net loss to net cash used in operating activities    
Amortization 150 975
Stock based compensation 47,927 56,479
Amortization of deferred compensation 195,956 900
Director and officer compensation accruals 324,000 154,600
Financing related costs - convertible debt 97,178
Change in derivative liability (35,051)
Changes in operating assets and liabilities:    
Other current assets 345
Accounts payable 140,911 (6,088)
Net cash used in operations (63,775) (49,614)
Cash flow from financing activities:    
Proceeds from notes payable 15,000 20,000
Repayment of note payable (2,000)
Proceeds from convertible debt 32,000
Proceeds from sale of common stock 55,000  
Proceeds from related party notes and advances 3,599 32,160
Repayments of related party advances (2,850)
Net cash provided by financing activities 103,599 49,310
Net increase (decrease) in cash 39,824 (304)
Cash at beginning of period 1,084 1,388
Cash at end of period 40,908 1,084
Supplemental disclosure of cash flow information:    
Cash paid for interest
Cash paid for income taxes
Non-cash financing activities:    
Non-cash exercise of stock options 49,467
Forgiveness of shareholder loans 526,888
Conversion of notes payable to common stock 17,958
Conversion of shareholder loans to common stock $ 94,135