Cash Flow

v3.7.0.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Net Cash Provided by (Used in) Operating Activities    
Net Loss $ (3,289,778) $ (3,687,047)
Adjustments to reconcile net loss to net cash used by operating activities:    
Stock and warrants issued for services rendered - related party 7,601 7,547
Stock and warrants issued for services rendered 203,586 1,095,064
Loss on Extinguishment of Debt 406,482 0
Warrants issued for Directors' Fees 0 10,588
Stock and warrants issued for financing costs 36,000 45,000
Amortization of deferred finance costs 56,233 0
Amortization of bond discount 306,008 949,118
Depreciation expense 12,500 12,500
Changes in assets and liabilities:    
(Increase) in prepaid expenses (19,760) (21,523)
Increase (Decrease) in accounts payable 93,778 (282,079)
Increase in due to related party 54,000 67,500
Increase in accrued liabilities and interest 480,572 520,160
Net Cash Provided by (Used in) Operating Activities (1,652,778) (1,283,172)
Cash Flows from Investing Activities: 0 0
Net Cash Provided by (Used in) Financing Activities    
Proceeds of Loan Payable, related party 170,000 42,316
Proceeds from issuance of 11% convertible debentures 1,000,000 1,250,000
Net Cash Provided by (Used in) Financing Activities 1,170,000 1,292,316
Increase (Decrease) in Cash (482,778) 9,144
Cash and Cash Equivalents, at Carrying Value, Beginning Balance 506,986 16,589
Cash and Cash Equivalents, at Carrying Value, Ending Balance 24,208 25,733
Supplemental Cash Flow Information    
Interest Paid 0 0
Income Taxes Paid $ 0 $ 0

Source