Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows From Operating Activities    
Net loss $ (9,154,924) $ (6,776,772)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 744,354 704,601
Amortization of discount on convertible debt 168,443 55,514
Change in fair value of warrant liabilities 2,450,045 (2,161,845)
Provision for bad debt 95,715 (6,132)
Loss on disposal of fixed assets 17,348
Gain on sale of fixed assets (70,088)
Gain on settlement of accounts payable (176,831)
Gain on settlement of other trade liabilities (209,086)
Release from U.S. Department of Energy accrued liability (1,833,896)
Non-compliance penalty for delinquent regular SEC filings 571,543 1,276,050
Non-compliance penalty for SEC registration requirement 188,125 228,750
Convertible preferred stock 131,967 1,013,497
Common stock 192,881 932,937
Options 815,353 1,469,773
Warrants 7,295 288,862
Changes in operating assets and liabilities:    
Accounts receivable and other receivables 522,076 (27,421)
Inventory 251,236 325,342
Prepaid expenses and other current assets 138,569 (117,215)
Deposits 39,456 (68,942)
Other assets (105,223) 643,925
Accounts payable and accrued expenses 1,548,913 233,164
Deferred rent (6,564)
Deferred revenue (536,635) (693,146)
Total Adjustments 7,241,461 1,801,249
Net Cash Used in Operating Activities (1,913,463) (4,975,523)
Cash Flows From Investing Activities    
Purchase of fixed assets (80,463) (38,368)
Proceeds from sale of fixed assets 78,100
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) (171,233)
Cash Flows From Financing Activities    
Preferred Stock and warrants 1,367,120 3,830,000
Payment of Series C Convertible Preferred Stock issuance costs (52,500)
Payments of future offering costs (60,209)
Payment of debt issuance costs (45,000)
Bank overdrafts 139,844
Proceeds from issuance of convertible notes payable to a related party 600,000
Repayment of notes and convertible notes payable (135,428) (189,937)
Net Cash Provided by Financing Activities 1,813,827 3,640,063
Net Decrease in Cash (180,099) (1,506,693)
Cash - Beginning of Period 189,231 1,627,062
Cash - Ending of Period 9,132 120,369
Supplemental Disclosures of Cash Flow Information:    
Interest expense 2,245 10,727
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
Issuance of Series B Convertible Preferred Stock to the Creditors of ECOtality 825,000
Accrual of contractual dividends on Series C Convertible Preferred Stock 1,070,400 656,900
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 37,157
Warrants reclassified to derivative liabilities 281,403
Accrual of issuance costs on Series C Convertible Preferred Stock 159,335
Transfer of inventory to fixed assets 55,207 112,687
Warrants issued as debt discount in connection with issuances of notes payable 204,465
Warrants issued in connection with sale of Series C convertible preferred stock $ 178,414 $ 88,905