Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows used in operating activities:    
Net loss from continuing operations $ (30,118,632) $ (19,287,511)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation and amortization 1,508,042 2,037,910
Non-cash gain on derivative instruments (6,653,774)
Stock issued for services 161,003 9,310
Stock-based compensation 34,081 884,165
Bad debt expense 1,051,590 3,667,992
Non-cash interest expense 8,441,043
Amortization of debt discount 6,228,352 2,474,497
Non-cash settlement of debt (50,000)
Loss (gain) on extinguishment of debt (42,702,815)
Change in fair value of derivative instrument 42,702,815 (6,553,772)
Loss from discontinued operations (1,053,471) (2,828,030)
Changes in operating assets and liabilities:    
Accounts receivable (252,717) 1,878,086
Inventory (73,732)
Prepaid expenses and other current assets 2,672 236,612
Security deposits (16,059) 3,040
Accounts payable 1,367,689 (1,679,960)
Accrued expenses 2,081,876 331,797
Income tax assets and liabilities (451,997) 2,202,206
Net cash used in operating activities of continuing operations (11,140,260) (16,823,660)
Net cash used in discontinued operations (643,181) (216,614)
Net cash used in operating activities (11,783,441) (17,040,274)
Cash flows provided by (used in) investing activities:    
Purchase of property and equipment (1,554,499) (15,998)
Net cash used in investing activities of continuing operations (1,554,499) (15,998)
Net cash provided by investing activites of discontinued operations 1,936 79,271
Net cash provided by (used in) investing activities (1,552,563) 63,273
Cash flows provided by financing activities:    
Proceeds from the issuance of common stock and warrants, net of offering cost 7,521,036
Proceeds from issuance of related party notes payable and advances 3,805,000 8,285,000
Proceeds from issuance of notes payable and debentures 15,742,500 5,394,500
Payments on related party notes payable and advances (3,860,000) (6,000,000)
Payments on notes payable (1,042,524) (5,715,000)
Payments on capital lease obligations (1,342,970) (791,365)
Net cash provided by financing activities of continuing operations 13,302,006 8,694,171
Net cash used in financing activities of discontinued operations (36,056)
Net cash provided by financing activities 13,302,006 8,658,115
Net (decrease) in cash (33,998) (8,318,886)
Cash at beginning of period 75,017 8,833,230
Cash at end of period $ 41,019 $ 514,344