Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net loss from continuing operations $ (12,932,795) $ (146,786,377)
Adjustments to reconcile net loss to net cash (used in) provided by operations:    
Depreciation and amortization 223,586 333,515
Stock-based compensation 8,650 665,307
Amortization of debt discount 3,458,021 4,522,329
Modification of warrants 4,056,424
Penalty for non-payment of debenture 595,440
Change in fair value of derivative instruments 105,076 139,779,232
Loss on sale of receivables to factor 305,400
Non-cash gain on assets (1,398)
Bargain purchase gain for Jellico Community Hospital and CarePlus Center (250,000)
(Loss) income from discontinued operations (508,609) 421,793
Changes in operating assets and liabilities:    
Accounts receivable (1,059,478) (130,449)
Inventory 92,970 (14,115)
Prepaid expenses and other current assets 59,074 (25,508)
Security deposits 69,784 (12,128)
Accounts payable and checks issued in excess of bank balance 3,007,052 416,445
Accrued expenses 1,723,743 (835,638)
Income tax assets and liabilities (30,000) 22,660
Net cash used in operating activities of continuing operations (1,077,060) (1,642,934)
Net cash provided by (used in) operating activities of discontinued operations 185,942 (698,259)
Net cash used in operating activities (891,118) (2,341,193)
Cash flows from investing activities:    
Purchase of Jellico Community Hospital and CarePlus Center (658,537)
Purchase of property and equipment (42,317) (301)
Net cash used in investing activities of continuing operations (700,854) (301)
Net cash provided by investing activities of discontinued operations 800,000
Net cash (used in) provided by investing activities (700,854) 799,699
Cash flows from financing activities:    
Proceeds from issuance of related party note payable and advances 1,373,788 1,050,000
Payments on related party note payable and advances (660,000) (1,110,000)
Proceeds from issuance of debentures 500,000 2,000,000
Payments on notes payable (5,513)
Proceeds from receivables sold to factor 570,000
Receivables paid to factor (109,425)
Payments on capital lease obligations (73,741) (363,410)
Net cash provided by financing activities of continuing operations 1,595,109 1,576,590
Net cash used in financing activities of discontinued operations
Net cash provided by financing activities 1,595,109 1,576,590
Net increase in cash 3,137 35,096
Cash at beginning of period 6,870
Cash at end of period $ 10,007 $ 35,096