v3.3.0.814
Consolidated Statements Of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:    
Net loss for the year $ (4,249,951) $ (1,636,259)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation and amortization $ 22,051 $ 13,602
Impairment of note and interest receivable
Stock-based compensation $ 1,081,991 $ 482,038
Derivative expense 401,664 91,357
Loss on extinguishment of debt (141,070) $ (235,937)
Stock issued for loan fees 265,100
Change in fair value of derivative liability (4,680) $ 44,769
Amortization of debt discount 1,255,620 $ 201,643
Loss on disposal of fixed assets (15,729)
Change in assets and liabilities:    
(Increase) decrease in accounts receivable 128,928 $ 483
(Increase) in other receivables and prepaid assets 8,567
(Increase) decrease in other receivable, related party 100,186 $ (275)
Increase in accounts payable and accruals 580,363 567,293
Net cash used in operating activities (719,364) (89,366)
Cash flows from investing activities:    
Purchase of property and equipment $ 1,961 12,998
Repayment of note receivable, related party (6,060)
Net cash used in investing activities $ (1,961) $ (19,058)
Cash flows from financing activities:    
Cash overdraft 279
Proceeds from notes payable, net 719,610 $ 39,200
Payments on notes payable $ 14,760
Contributed capital, related party $ 8,000
Proceeds from the sale of common stock $ 62,000
Proceeds from notes payable, related party $ 58,232
Payments on notes payable, related party 43,828
Net cash provided by financing activities 719,533 $ 109,200
Net increase (decrease) in cash (1,792) 776
Cash at beginning of period $ 1,792 1,016
Cash at end of period $ 1,792
Supplemental Cash Flow Information:    
Cash paid for interest
Cash paid for income taxes
Non-Cash Investing and Financing Information:    
Convertible note issued to extinguish a note payable totaling $491,945, account payable of $223,530 and accrued expenses of $183,999 $ 812,249
Forgiveness of related party accrued liabilities
Notes payable, preferred stock and common stock warrants issued for cancellation of common stock in connection with the merger $ 56,588
Common stock issued for conversion of debt $ 366,601 $ 29,850
Preferred stock issued for conversion of debt 325,000
Issuance of common stock warrants in connection with debt 36,127 $ 14,034
Beneficial conversion feature recorded in connection with convertible debt $ 1,378,684 $ 72,388