Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows From Operating Activities    
Net loss $ (3,097,732) $ (4,400,792)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 123,131 218,041
Accretion of interest expense 75,872
Amortization of discount on convertible debt 614,901
Change in fair value of warrant liabilities 464,289 2,014,408
Provision for bad debt 19,848 33,754
Loss on disposal of fixed assets 2,831
Gain on settlemment of accounts payable (23,928)
Non-compliance penalty for delinquent regular SEC filings 220,864
Non-compliance penalty for SEC registration requirement 36,016 137,500
Convertible preferred stock 131,967
Common stock 60,000 107,853
Options 107,248 315,599
Warrants 5,827
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (61,719) (70,574)
Inventory 82,311 148,706
Prepaid expenses and other current assets (10,262) 155,573
Other assets 30,440 37,965
Accounts payable and accrued expenses 905,806 376,284
Deferred revenue (109,356) (258,843)
Total Adjustments 2,314,597 3,577,755
Net Cash Used in Operating Activities (783,135) (823,037)
Cash Flows From Investing Activities    
Purchase of fixed assets (206) (5,836)
Net Cash Used In Investing Activities (206) (5,836)
Cash Flows From Financing Activities    
Proceeds from sale of shares of Series C Convertible Preferred stock and warrants 900,000
Payments of future public offering costs (24,720) (45,000)
Payments of debt issuance costs (39,000)
Bank overdrafts, net (4,912)
Proceeds from issuance of convertible note payable 805,100
Proceeds from issuance of notes payable to a related party 47,567
Repayment of notes and convertible notes payable (3,604) (23,434)
Net Cash Provided by Financing Activities 780,431 831,566
Net (Decrease) Increase In Cash (2,910) 2,693
Cash - Beginning of Period 5,898 189,231
Cash - Ending of Period 2,988 191,924
Supplemental Disclosures of Cash Flow Information:    
Interest expense 44 131
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 20,991
Accrual of contractual dividends on Series C Convertible Preferred Stock 754,900 318,400
Issuance of Series C Convertible Preferred Stock in satisfaction of contractual dividends (611,600)
Transfer of inventory to fixed assets 1,875
Warrants issued as debt discount in connection with issuances of notes payable 4,479
Accrual of deferred public offering costs $ 257,242