v3.4.0.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (884,228) $ (608,845)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 111,261 84,621
Bad debt expense 0 18,476
Amortization of debt discounts 119,115 0
Change in fair value of derivative liabilities (101,381) 0
Stock based compensation 328,948 56,154
Common stock issued for services rendered 51,990 59,879
Changes in operating assets and liabilities:    
Accounts receivable (105,665) 42,299
Inventory 38 0
Prepaid expenses and other current assets 1,694 12,536
Accounts payable 4,647 8,510
Accrued expenses (25,941) (54,213)
Deferred rent (418) 0
Net cash used in operating activities (499,940) (380,583)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of fixed assets 0 (5,144)
Software development costs (103,702) (77,231)
Net cash used in investing activities (103,702) (82,375)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from sale of common stock and warrants 385,310 0
Repayments of convertible notes payable (300,000) 0
Net cash provided by financing activities 85,310 0
Net decrease in cash (518,332) (462,958)
Cash at beginning of period 730,482 1,103,201
Cash at end of period 212,150 640,243
SUPPLEMENTAL INFORMATION    
Cash paid for interest $ 2,340 $ 27,976
Cash paid for income taxes
Non-cash investing and financing activities: $ 0 $ 0