General form of registration statement for all companies including face-amount certificate companies

Consolidated Statements of Cash Flows

v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended 12 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:        
Net loss $ (905,488) $ (1,700,420) $ (4,257,875) $ (16,994,625)
Adjustments to reconcile net loss to net cash used inoperating activities:        
Depreciation and amortization 15,436 15,000 23,758 38,972
Stock based compensation 87,500 514,399 708,059 11,667,361
Amortization of debt discount 4,592
Gain on sale of assets (95,000) (95,000) (2,426)
Inventory impairment 958,575
Changes in assets and liabilities:        
Deposits and other assets (19,137) 5,695 5,114 1,391
Prepaid expenses (20,854) 2,108 17,329 (5,482)
Inventory 28,099
Accrued payroll and payroll related expenses 245,214 697,412 1,122,773 (218,619)
Accounts payable and accrued expenses 137,361 (8,651) 10,808 (50,328)
Accrued interest 222 222 (101,553)
Fees payable to directors (50,000)
Other current liabilities (12,613)
Net cash used in operating activities (459,968) (569,235) (1,506,237) (5,695,231)
Cash flows from investing activities:        
Purchases of property and equipment (1,633)
Proceeds from sale of property and equipment 10,000 10,000 87,430
Increase in patents (19,972) (15,785) (22,049) (26,670)
Net cash used in investing activities (19,972) (5,785) (12,049) 59,127
Cash flows from financing activities:        
Proceeds from the issuance of common stock 563,000 1,095,000 1,776,000 3,923,798
Proceeds from the issuances of notes payable 30,000 30,000 2,076,000
Repayment of principal on notes payable (550,408)
Net cash provided by financing activities 563,000 1,125,000 1,806,000 5,449,390
NET INCREASE IN CASH 83,060 549,980 287,714 (186,714)
Cash at the beginning of the period 323,410 35,696 35,696 222,410
Cash at the end of the period 406,470 585,676 323,410 35,696
NON-CASH INVESTING AND FINANCING ACTIVITIES:        
Conversion of notes payable and accrued interest into common stock 30,222 30,222 11,125,167
Conversion of accrued payroll into stock options 227,784 530,545 1,210,124
Conversion of accounts payable into stock options 66,445 232,565
Effect of merger with Cardax Pharmaceuticals, Inc. 1,402
SUPPLEMENTAL DISCLOSURES:        
Cash paid for interest 538 2,112 188,382
Cash paid for income taxes