XML 17 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (6,209,768) $ (601,002)
Adjustments to Reconcile Net Loss to Net Cash Used In Operating Activities:    
Depreciation and amortization expense 25,903 9,448
Amortization of debt discounts 518,481 16,063
Stock-based compensation 338,792 16,636
Issuance of common stock for services 401,800
Fair value of warrants issued for services 368,003
Loss on goodwill impairment 1,949,884
Changes in Assets and Liabilities:    
Accounts receivable (534,909) (565,306)
Accounts receivable - related party (171,392)
Inventory (2,623,788) (272,345)
Prepaid expenses (669,713) (585,821)
Prepaid expenses - related party (2,709,449) (15,523)
Other assets (531,324) (369,287)
Accounts payable and accrued expenses 496,450 381,512
Accounts payable and accrued expenses - related party 312,666 (126,754)
Taxes payable 278,223 48,508
Deferred revenue (62,210)
NET CASH USED IN OPERATING ACTIVITIES (8,760,141) (2,126,081)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (55,337) (12,816)
Payment of financing arrangement fee (131,900)
Cash received from acquisition 40,858
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (14,479) (144,716)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of convertible note payable (239,286)
Proceeds from convertible note payable 2,686,000
Payment of related party note payable (84,755) (63,312)
Payment of note payable (487,476) (176,218)
Proceeds from note payable 7,541,413 2,871,993
Payment of related party loan (978,730) (15,300)
Proceeds from related party loan 817,040 148,250
Payment of loans payable (20,437) (45,374)
Sale of common stock and warrants 91,780
Proceeds from the exercise of stock options 24,000
Purchase of treasury stock (34,460)
Capital contribution 140
NET CASH PROVIDED BY FINANCING ACTIVITIES 9,291,089 2,744,179
Effect of exchange rate changes on cash (450,206) 45,159
NET INCREASE IN CASH 66,263 518,541
CASH AT BEGINNING OF YEAR 716,590 198,049
CASH AT END OF YEAR 782,853 716,590
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period: Interest 130,531 30,396
Cash paid during the period: Income Tax
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Acquisition of Decahedron 1,479,000
Reversal of proceeds due from noteholder due to repayment of note 24,044
Discounts related to warrants issued with convertible debentures 1,545,288
Discounts related to beneficial conversion features of convertible debentures 1,140,711
Related party accrual for repurchase of shares of common stock $ 61,422