Cash Flow

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows From Operating Activities:
Net loss $ (2,945,503) $ (1,409,867)
Adjustments to reconcile net loss to cash used in operations:
Depreciation 26,727 0
Derivative (gain) loss (106,486) 1,454,729
Stock-based compensation 637,292 2,005,861
Bad debt expense 18,592 0
Inventory reserve 553,440 0
Amortization of prepaid stock-based expenses 195,299 0
Amortization of discount and debt issuance costs for convertible notes 268,350 339,806
Amortization of intangible assets 246,250 52,688
Deferred rent 3,418 0
Loss (gain) on settlement of debt 6,500 (3,007,629)
(Increase) decrease in operating assets:
Accounts receivable (236,360) 0
Accounts receivable - related party (88,800) 0
Inventory 387,271 (422,819)
Advance to supplier - related party (1,017,225)
Prepaid expenses and other current assets - current 88,240 (46,250)
Prepaid expenses and other current assets - long term 15,959 0
Deposit 40,000 0
Increase (decrease) in operating liabilities:
Accounts payable 552,292 233,560
Accounts payable - related party 0 (21,561)
Accrued expenses 411,149 0
Unearned revenues (215,000) 0
Interest payable 9,005 4,952
Net Cash Used In Operating Activities (164,283) (1,833,755)
Cash Flows From Investing Activities:
Purchase of membership interest in subsidiary 0 (300,000)
Purchase of property and equipment 0 (28,500)
Net Cash Used In Investing Activities 0 (328,500)
Cash Flows From Financing Activities:
Advances from related party 85,000 0
Proceeds from sale of Common Stock 100,000 3,309,653
Payments of principal on notes payable 0 (11,129)
Proceeds from issuance of notes payable 20,419 14,229
Payments of principal on convertible notes (50,000) (186,443)
Proceeds from issuance of convertible notes, net of issuance cost 0 206,900
Net Cash Provided By Financing Activities 155,419 3,333,210
Net increase (decrease) in cash and cash equivalents (8,864) 1,170,955
Cash and cash equivalents at beginning of period 18,405 1,960
Cash and cash equivalents at end of period 9,541 1,172,915
Supplemental Cash Flow Information:
Cash paid for interest 11,111 22,166
Cash paid for taxes 0 0
Non-Cash transactions investing and financing activity:
Proceeds from sale of Series A preferred stock paid directly to settle debts 0 55,090
Convertible notes and interest payable settled by Series A preferred stock issued 0 849,360
Note payable, accrued expense and interest payable settled by common stock issued 0 40,616
Convertible notes settled by common stock issued 0 196,000
Common stock issued for purchase of membership interest in subsidiary 0 990,000
Increase in intangible assets for subscription payable 0 1,650,000
Initial beneficial conversion feature and debt discount on convertible notes 0 206,910
Preferred deemed dividend 0 904,450
Operating lease right-of-use assets and operating lease liabilities recorded upon adoption of ASC 842 0 310,093
Reduction of operating lease right-of-use asset and operating lease liabilities $ 116,887 $ 7,416