v3.10.0.1
Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (11,631,378) $ (1,139,456)
Adjustments to reconcile net loss to net cash used in operating activities:    
Equity-based compensation 5,368,354 205,396
Non-cash interest expense 776,214
Amortization of intangible assets 563 565
Amortization of debt discounts 352,673 102,263
Loss on debt extinguishments 3,484,502
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (814,507) 9,670
Note receivable – related party (367)
Other assets 2,250
Accounts payable and accrued expenses (34,808) 324,817
Net cash used in operating activities (2,498,387) (494,862)
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:    
Net proceeds from private sale of equity 40,000
Net proceeds from sale of equity in IPO 6,267,932
Proceeds from Senior Secured Bridge Note 250,000
Proceeds from Subordinated Notes Payable 100,000
Proceeds from Senior Note 275,000
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 (100,000)
Proceeds of warrant exercise 156,250
Net cash provided by financing activities 6,349,182 390,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 3,850,795 (69,745)
CASH AND CASH EQUIVALENTS-BEGINNING OF YEAR 18,248 87,993
CASH AND CASH EQUIVALENTS-END OF YEAR 3,869,043 18,248
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 convertible notes 545,307
Stock issued on conversion of June 2018 note $ 325,000

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