Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.19.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash Flows From Operating Activities    
Net loss $ (3,421,203) $ (75,363,496)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 360,765 412,594
Accretion of interest expense 532,323
Amortization of discount on convertible debt 528,929 2,285,173
Change in fair value of derivative and other accrued liabilities 5,093,024 (44,009,839)
Loss on inducement 7,570,581
Provision for bad debt 67,695 35,000
Loss on settlement reserve 127,941
Loss on settlement of liabilities for equity 2,136,860
Gain on settlement of liabilities to JMJ for equity (5,800,175)
Interest expense - related party share transfer (see Note 9) 785,200
Gain on settlement of accounts payable, net (972,637) (22,914)
Gain on extinguishment of derivative liabilities (24,240)
Loss on deconsolidation of 350 Green 97,152
Provision for slow moving and obsolete inventory 204,000
Loss on disposal of property and equipment 66,746 803
Non-compliance penalty for SEC registration requirement 73,498
Common stock 3,612,411 1,474,367
Options 85,386 320,443
Warrants 114,069 1,349,994
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (7,946) (134,603)
Inventory (1,143,262) 147,359
Prepaid expenses and other current assets (798,226) (23,721)
Other assets (3,889) 22,264
Accounts payable and accrued expenses (4,183,227) 14,930,824
Deferred revenue (63,128) (266,141)
Total Adjustments (9,999,752) 72,814,835
Net Cash Used in Operating Activities (13,420,955) (2,548,661)
Cash Flows From Investing Activities    
Purchases of property and equipment (37,711) (23,169)
Net Cash Used In Investing Activities (37,711) (23,169)
Cash Flows From Financing Activities    
Proceeds from sale of common stock in public offering [1] [1] 16,243,055
Payment of public offering costs (1,190,082)
Payments of deferred offering costs (172,158)
Payments of debt issuance costs (72,945)
Bank overdrafts, net (11,566)
Proceeds from issuance of convertible note payable 2,500,000
Proceeds from exercise of warrants 17,143,055
Proceeds from issuance of notes payable to non-related party 55,000 260,000
Proceeds from advance from a related party 250,000 257,645
Repayment of notes and convertible notes payable (810,000) (9,893)
Net Cash Provided by Financing Activities 31,691,028 2,751,083
Net Increase In Cash 18,232,362 179,253
Cash - Beginning of Period 185,151 5,898
Cash - End of Period 18,417,513 185,151
Supplemental Disclosures of Cash Flow Information:    
Interest expense 44,407 44
Non-cash investing and financing activities:    
Common stock issued in partial satisfaction of debt and other liabilities 4,353,988
Reduction of additional paid-in capital for public offering issuance costs that were previously paid (172,158)
Common stock issued upon conversion of Series A convertible preferred stock 11,000
Common stock issued in satisfaction of Series B convertible preferred stock 825,000
Common stock issued upon conversion of Series C convertible preferred stock 255
Common stock issued upon conversion of Series D convertible preferred stock 7
Issuance of common stock for services previously accrued 181,924
Warrants issued in satisfaction of accrued issuable equity 409,042
Return and retirement of common stock 2,942
Warrants reclassified from derivative liabilities 36,445
Accrual of contractual dividends on Series C Convertible Preferred Stock 607,800 4,267,100
Issuance of Series C Convertible Preferred Stock in satisfaction of contractual dividends 2,500,600 3,643,401
Issuance of Series C Convertible Preferred Stock in satisfaction of public information fee 3,023,500
Issuance of Series C Convertible Preferred Stock in satisfaction registration rights penalty 1,245,500
Accrual of warrant obligation in connection with issuance of notes payable 1,200,000
Transfer of inventory to property and equipment (48,606)
Accrual of deferred public offering costs 860,097
Issuance or accrual of common stock, warrants and embedded conversion options as debt discount in connection with the issuance of notes payable 1,382,224
Series D convertible preferred stock issued in satisfaction of liabilities 12,005,000
Issuance of common stock in exchange for warrants 46,385,962
Return and retirement of common stock previously held as collateral 67,058
Common stock issued in satisfaction of accrued issuable equity $ 899,072 $ 4,235,402
[1] Includes gross proceeds of $18,504,320, less issuance costs of $2,261,265 deducted directly from the offering proceeds.