Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.10.0.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,171,306) $ (442,838)
Adjustments to reconcile net loss to net cash used in operating activities:    
Equity-based compensation 1,600,342 60,818
Amortization of intangible assets 281 282
Amortization of debt discounts 60,993 12,257
Gain on debt extinguishment (12,241)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (21,044) (12,697)
Other assets 2,250
Accounts payable and accrued expenses 139,753 143,952
Net cash used in operating activities (403,222) (235,976)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from note receivable - related party 35,117
Net cash provided by investing activities 35,117
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from Senior Note 275,000
Proceeds from Bridge Note Payable 250,000
Proceeds from Senior Secured Notes Payable, including related party 410,000
Repayment of Senior Secured Bridge Note (150,000)
Net cash provided by financing activities 535,000 250,000
NET INCREASE IN CASH AND CASH EQUIVALENTS 131,778 49,141
CASH AND CASH EQUIVALENTS-BEGINNING OF PERIOD 18,248 87,993
CASH AND CASH EQUIVALENTS-END OF PERIOD 150,026 137,134
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest paid
Income taxes paid
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Issuance of warrants for financing costs classified as debt discount 222,950
Issuance of beneficial conversion discount on convertible notes payable 52,050
Exchange of Subordinated notes in the amount of $115,639 for Senior secured notes $ 100,000