Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash Flows From Operating Activities    
Net loss $ (7,699,127) $ (8,244,924)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 861,831 935,355
Accretion of interest expense 63,773
Amortization of discount on convertible debt 962,412 63,473
Change in fair value of warrant liabilities (727,239) (3,262,637)
Release from obligation to U.S. Department of Energy (1,833,896)
Provision for bad debt 98,650 19,421
Loss on disposal of fixed assets 17,557
Gain on sale of fixed assets, net (81,567)
Gain on settlement or forgiveness of accounts payable and accrued expenses (840,625) (60,597)
Gain on settlement of other trade liabilities (209,086)
Non-compliance penalty for delinquent regular SEC filings 571,543 1,722,217
Non-compliance penalty for SEC registration requirement 239,178 228,750
Convertible preferred stock 131,967 1,158,033
Common stock 248,545 1,294,132
Options 396,124 1,324,803
Warrants 7,821 288,862
Changes in operating assets and liabilities:    
Accounts receivable and other receivables 324,249 (285,926)
Inventory 289,616 288,518
Prepaid expenses and other current assets 397,667 (338,821)
Other assets 42,470 472,980
Accounts payable and accrued expenses 2,181,363 798,118
Deferred rent (6,564)
Deferred revenue (316,798) (207,881)
Total Adjustments 4,950,104 2,307,687
Net Cash Used in Operating Activities (2,749,023) (5,937,237)
Cash Flows From Investing Activities    
Purchase of fixed assets (80,463)
Proceeds from sale of fixed assets 108,701
Investment in estate of Ecotality net of amount owed to Ecotality Estate Creditor's Committee (210,965)
Net Cash Used In Investing Activities (80,463) (102,264)
Cash Flows From Financing Activities    
Proceeds from sale of shares of Series C Convertible Preferred stock and warrants 1,367,120 4,930,000
Payment of Series C Convertible Preferred Stock issuance costs (52,500)
Payments of future public offering costs (53,640)
Payment of debt issuance costs (87,405)
Bank overdrafts, net 11,566
Proceeds from issuance of a convertible note payable 1,000,000
Proceeds from issuance of convertible notes payable to a related party 600,000
Repayment of notes and convertible notes payable (138,988) (328,330)
Net Cash Provided by Financing Activities 2,646,153 4,601,670
Net Decrease in Cash (183,333) (1,437,831)
Cash - Beginning of Year 189,231 1,627,062
Cash - Ending of Year 5,898 189,231
Supplemental Disclosures of Cash Flow Information:    
Interest expense 2,414 34,414
Non-cash investing and financing activities:    
Return and retirement of common stock in connection with settlement 45,000
Issuance of common stock for services previously accrued 26,982 94,999
Issuance of Series C Convertible Preferred Stock in settlement of accrued registration rights penalty and related interest 2,069,700
Accrual of contractual dividends on Series C Convertible Preferred Stock 1,468,500 950,100
Issuance of Series C Convertible Preferred Stock in satisfaction of contractual dividends (611,600) (677,700)
Warrants issued in connection with extension of convertible note payable 42,242
Warrants reclassified to derivative liabilities 281,403
Issuance of Series B Convertible Preferred Stock to the Creditors of ECOtality 825,000
Accrual of issuance costs on Series C Convertible Preferred Stock 159,335
Transfer of inventory to fixed assets 59,709
Warrants issued as debt discount in connection with issuances of notes payable - related party 204,465
Warrants issued in connection with sale of Series C convertible preferred stock 178,414
Warrants issued as debt discount in connection with issuances of notes payable 285,468
Accrual of deferred public offering costs $ 281,835