XML 16 R5.htm IDEA: XBRL DOCUMENT 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) $ (832,162) $ (715,716)
Adjustments to reconcile net income (loss) to net cash used in operating activities    
Depreciation and amortization 30,319 29,790
Forgivenss of debt 22,944 0
Bad debt expense 4,627 3,437
Common stock issued for services 10,965 69,810
Stock based compensation 758,665 0
(Gain) loss on change in fair value of derivative liabilities (87) 482
(Gain) loss on issuance of debt for warrants 0 (198,307)
Changes in assets and liabilities:    
(Increase) decrease in accounts receivable (247,876) 66,591
(Increase) decrease in royalities receivable 150,750 (100,500)
(Increase) decrease in inventory (85,798) (122,383)
(Increase) decrease in prepaids and other assets 14,289 300
Increase (decrease) in accrued royalties and dividends (161,232) (136,786)
Increase (decrease) in accounts payable 14,827 91,189
Increase (decrease) in accrued interest payable 37,188 14,167
Net cash flows used in operating activities (282,581) (601,312)
Cash flows from investing activities:    
Purchase of property and equipment (703) (707)
Net cash flows used in investing activities (703) (707)
Cash flows from financing activities:    
Payments on capital lease obligation (2,364) (1,125)
Borrowings on debt 0 96,000
Payments on debt (121,800) (1,800)
Borrowings on convertible debt, to related parties 0 1,200,000
Payments on convertible debt 0 (1,100,000)
Cash proceeds from sale of series C preferred stock 450,000 250,000
Net cash flows provided by (used in) financing activities 325,836 443,075
Net increase (decrease) in cash 42,552 (158,944)
Cash and cash equivalents, beginning of period 182,337 523,441
Cash and cash equivalents, end of period 224,889 364,497
Cash paid during the period for:    
Interest 7,180 64,000
Income Taxes 0 0
Supplemental non-cash investing and financing activities:    
Common stock issued for Series C dividends 99 60
Common stock issued for conversion of Series C Preferred Stock 10,000 9,570
Issuance of vested stock 167 333
Issuance of convertible debt for warrants 0 200,000
Forgiveness of related party convertible debt $ 0 $ 100,000