v3.10.0.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (10,362,230) $ (735,464)
Adjustments to reconcile net loss to net cash used in operating activities:    
Equity-based compensation 5,068,514 134,700
Non-cash interest expense 745,659
Amortization of intangible assets 423 423
Amortization of debt discounts 166,275 57,343
Loss (gain) on debt extinguishment 3,484,502
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (419,594) (12,697)
Other assets 2,250
Accounts payable and accrued expenses (78,024) 180,685
Net cash used in operating activities (1,394,475) (372,760)
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 sale of Common Stock and Warrants in IPO 6,267,932
Proceeds from sale of class B units 40,000
Proceeds from Senior Note 275,000
Proceeds from Senior Secured Bridge Note 250,000
Proceeds from Senior Secured Notes, including related party 410,000
Repayment of Senior Secured Bridge Note (150,000)
Repayment of Senior Secured Notes, including related party (510,000)
Repayment of Senior Secured Bridge Note Contingent Payable (100,000)
Net cash provided by financing activities 6,192,932 290,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 4,798,457 (47,643)
CASH AND CASH EQUIVALENTS-BEGINNING OF PERIOD 18,248 87,993
CASH AND CASH EQUIVALENTS-END OF PERIOD 4,816,705 40,350
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest paid 38,160
Income taxes paid
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Issuance of warrants for financing costs classified as debt discount 222,950
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
Stock and warrants issued per terms of June 2018 notes and Firstfire note 3,747,207
Stock and warrants issued for MVA agreement 385,191
Stock and warrants issued for conversion of $235,000 note $ 545,307

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