v3.5.0.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 2,568,991 $ (3,478,902)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Amortization of intangibles 194,793 238,136
Loss (gain) on extinguishment of debt (3,107,293) 956,278
Loss (gain) on foreign currency transaction 2,543 (13,921)
Stock issued for services 93,764 57,821
Change in fair value of derivatives (1,989,864) (2,783,501)
Recognition of intrinsic value of beneficial conversion feature 745,048
Amortization of debt discounts on convertible notes 1,498,581 28,677
Origination interest on convertible notes payable 493,026
Equity losses from investee 280,511 161,471
Bad debt expense 10,000
Expenses incurred by issuance of debentures 2,028 5,244
Changes in operating assets and liabilities:    
Accounts receivable (164,192) 177,936
Deposits 400,000
Prepaid expenses 2,079 216,423
Inventory 147,380 20,497
Billings in excess 9,107 (18,478)
Other receivables (40,000)
Deferred revenue 44,550
Accrued interest 162,888 450,543
Accrued interest - related party 41,127 42,708
Related party payables 2,624
Accounts payable and accrued expenses 45,648 2,388,321
Net cash provided by (used in) operating activities 158,091 (265,498)
CASH FLOW FROM INVESTING ACTIVITIES    
Cash acquired in acquisition 18,029
Loans to development partners - related parties (436,437) (46,708)
Net cash provided by (used in) investing activities (436,437) (28,679)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from notes payable (8,737)
Proceeds from convertible notes payable 120,000
Repayment of convertible debentures (658,235) (228,869)
Net cash provided by (used in) financing activities (658,235) (117,606)
Net increase (decrease) in cash (936,581) (411,782)
Cash at beginning of period 1,929,832 590,850
Cash at end of period $ 993,251 $ 179,068