Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.19.3
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Income Statement [Abstract]    
Net revenues $ 14,548,690 $ 3,088,216
Operating expenses:    
Direct costs of revenue 11,509,507 948,838
General and administrative 14,821,606 15,757,527
Sales and marketing expenses 4,554 742,637
Asset impairment 173,799
Depreciation and amortization 1,263,844 1,715,321
Total operating expenses 27,773,310 19,164,323
Loss from continuing operations before other income (expense) and income taxes (13,224,620) (16,076,107)
Other income (expense):    
Other income 672,972 38,342
Gain on bargain purchase 7,566,670
Change in fair value of derivative instruments 13,696,214 (42,702,815)
Gain on extinguishment of debt 42,702,815
Value of convertible liabilities (12,435,250)
Interest expense (21,532,678) (21,432,285)
Total other income (expense), net 403,178 (33,829,193)
Net loss from continuing operations before income taxes (12,821,442) (49,905,300)
Provision for income taxes 766,070 1,015,724
Net loss from continuing operations (13,587,512) (50,921,024)
Net loss from discontinued operations (434,843) (4,276,918)
Net loss (14,022,355) (55,197,942)
Deemed dividend from trigger of down round provision feature (231,843,826) (53,341,619)
Net loss to common shareholders $ (245,866,181) $ (108,539,561)
Net loss per common share:    
Basic and diluted: continuing operations $ (24.49) $ (22,587.23)
Basic and diluted: discontinued operations (0.04) (926.54)
Total Basic and diluted $ (24.53) $ (23,513.77)
Weighted average number of common shares outstanding during the period:    
Basic and diluted 10,022,180 4,616