Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows used in operating activities:    
Net loss from continuing operations $ (47,256,310) $ (13,587,512)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation and amortization 795,201 1,263,844
Loss on receivables sold to factors 1,361,053
Stock issued for services 477,933
Stock-based compensation (51,899) 285,992
Penalty for non-payment of debentures 6,893,940
Amortization of debt discount, including modification of warrants 16,223,475 17,558,008
Change in fair value of derivative instruments 105,076 (13,696,214)
Gain on purchase of hospitals and medical center (250,000) (7,566,670)
Asset impairment 173,799
Gain on disposal of property and equipment (551,155)
Loss from discontinued operations (777,511) (434,843)
Changes in operating assets and liabilities:    
Accounts receivable (959,855) (2,840,437)
Prepaid expenses and other current assets 78,333 237,561
Inventory 156,485 234,194
Security deposits (58,289) (94,143)
Accounts payable and checks issued in excess of bank balance 5,870,198 4,076,972
Accrued expenses 4,214,923 6,416,726
Income tax assets and liabilities (38,408) 738,827
Net cash used in operating activities of continuing operations (13,693,588) (7,307,118)
Net cash provided by (used in) operating activities of discontinued operations 132,055 (371,613)
Net cash used in operating activities (13,561,533) (7,678,731)
Cash flows (used in) provided by investing activities:    
Purchase of property and equipment (127) (213,105)
Purchase of hospitals and medical center (658,537) (634,721)
Proceeds from the sale of property and equipment 710,403
Net cash used in investing activities of continuing operations (658,664) (137,423)
Net cash provided by investing activities of discontinued operations 800,000
Net cash (used in) provided by investing activities (658,664) 662,577
Cash flows provided by (used in) financing activities:    
Proceeds from receivables sold to factors 2,650,000
Receivables paid to factors (2,804,896)
Proceeds from issuance of related party notes payable and advances 16,669,455 3,312,348
Proceeds from issuance of debentures 3,845,000 9,000,000
Payments on related party notes payable and advances (2,310,000) (3,972,348)
Proceeds from notes payable 1,600,000
Payments on notes payable (5,005,795)
Redemption of Series G Preferred Stock (100)
Payments on capital lease obligations (143,931) (1,316,929)
Payments of financing fees on notes payable (100,000)
Payments on ROU Liability (169,473)
Cash paid for fractional shares in connection with reverse stock split (47)
Net cash provided by financing activities of continuing operations 14,230,260 7,023,024
Net cash provided by financing activities of discontinued operations
Net cash provided by financing activities 14,230,260 7,023,024
Net increase in cash 10,063 6,870
Cash at beginning of period 6,870
Cash at end of period $ 16,933 $ 6,870