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 ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows From Operating Activities    
Net loss $ (7,513,899) $ (6,746,768)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 229,510 465,747
Accretion of interest expense 215,957
Amortization of discount on convertible debt 1,712,678
Change in fair value of warrant liabilities 780,793 2,194,257
Provision for bad debt 19,848 (1,066)
Loss on disposal of fixed assets 8,597
Loss on deconsolidation of 350 Green 97,152
Gain on settlement of accounts payable, net (23,928)
Non-compliance penalty for delinquent regular SEC filings 476,713
Non-compliance penalty for SEC registration requirement 51,982 137,500
Convertible preferred stock 131,967
Common stock 446,013 104,776
Options 110,201 599,011
Warrants 532,717 6,284
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (103,691) 405,371
Inventory 163,766 190,277
Prepaid expenses and other current assets (16,173) 181,680
Other assets 25,421 39,965
Accounts payable and accrued expenses 1,886,908 781,744
Deferred revenue (171,273) (410,560)
Total Adjustments 5,957,881 5,312,263
Net Cash Used in Operating Activities (1,556,018) (1,434,505)
Cash Flows From Investing Activities    
Purchase of fixed assets (206) (58,669)
Net Cash Used In Investing Activities (206) (58,669)
Cash Flows From Financing Activities    
Proceeds from sale of shares of Series C Convertible Preferred stock and warrants 1,367,120
Payments of deferred public offering costs (38,263) (52,500)
Payments of debt issuance costs (87,823)
Bank overdrafts, net 84,144
Proceeds from issuance of convertible note payable 1,500,100
Proceeds from issuance of notes payable to a related party 97,567 200,000
Repayment of notes and convertible notes payable (4,815) (26,910)
Net Cash Provided by Financing Activities 1,550,910 1,487,710
Net Decrease In Cash (5,314) (5,464)
Cash - Beginning of Period 5,898 189,231
Cash - Ending of Period 584 183,767
Supplemental Disclosures of Cash Flow Information:    
Interest expense 44 303
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 181,925 26,982
Accrual of contractual dividends on Series C Convertible Preferred Stock 1,545,800 683,700
Issuance of Series C Convertible Preferred Stock in satisfaction of contractual dividends 1,905,000 611,600
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 of registration rights penalty 1,245,500
Transfer of inventory to fixed assets 25,707
Accrual of warrant obligation in connection with issuance of notes payable 5,016
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
Accrual of deferred public offering costs 354,533
Accrual of issuance costs on Series C Convertible Preferred Stock $ 159,335