Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net loss $ (2,681,839) $ (1,747,909)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 540,679 593,380
Loss on extinguishment of debt 362,822
Asset impairment charge 1,677,055
Common stock and warrants issued for services 102,791
Amortization of debt discount 289,787 122,694
Change in assets and liabilities:    
Accounts and other receivables 148,427 175,478
Prepaid and other assets 48,238 14,054
Inventory 12,556 19,526
Accounts payable and accrued liabilities 470,496 (231,283)
Deferred income taxes (336,196)
Deferred rent (49,205) 15,793
Net cash provided by (used in) operating activities 119,998 (572,654)
Cash flows from investing activities:    
Purchase of property and equipment (166,589) (450,641)
Cash paid for acquisitions (30,000)
Net cash used in investing activities (196,589) (450,641)
Cash flows from financing activities:    
Proceeds from sale of common stock and warrants 290,000
Proceeds from sale of preferred stock 591,651
Payments related to sale of preferred stock (258,153)
Loan proceeds 512,780
Loan repayments (134,229) (194,069)
Capital lease payments (4,779)
Contribution of non-controlling interest 375,000
Net cash provided by financing activities 155,771 1,022,430
Effect of exchange rate changes on cash (4,008) 10,110
Net increase in cash and restricted cash 75,172 9,245
Cash and restricted cash, beginning of period 272,976 268,575
Cash and restricted cash, end of period 411,081 277,820
Supplemental cash flow information:    
Interest 141,573 335,669
Income taxes 22,052
Non-cash investing and financing activities:    
Convertible debt settled through issuance of common stock 200,000 150,000
Accrued interest settled through issuance of convertible debt 97,503
Preferred stock dividends paid through issuance of common stock $ 19,523