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 $ (1,047,864) $ (450,836)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 9,605 7,401
Stock based compensation 129,625 39,250
Bad debt expense on note receivable and accrued interest 89,036
Changes in assets and liabilities:    
Accounts receivable (86,043) (17,378)
Inventories 112,191 (30,907)
Deposits and other assets (117,271) 32,219
Prepaid expenses 990 2,318
Accrued payroll and payroll related expenses 32,926 18,410
Accounts payable and accrued expenses (61,491) 56,234
Net cash used in operating activities (938,296) (343,289)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Increase in intangible assets (5,238) (6,463)
Net cash used in investing activities (5,238) (6,463)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the issuance of common stock 289,000
Net cash provided by financing activities 289,000
NET DECREASE IN CASH (943,534) (60,752)
CASH AT THE BEGINNING OF THE PERIOD 2,236,837 158,433
CASH AT THE END OF THE PERIOD 1,293,303 97,681
SUPPLEMENTAL DISCLOSURES:    
Cash paid for interest 881 707
Cash paid for income taxes