XML 72 R6.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (3,298,965) $ (9,060,658)
Adjustments to Reconcile Net Loss to Net Cash Used In Operating Activities:    
Depreciation and amortization expense 234,086 43,930
Amortization of right-of-use assets 160,542
Amortization of debt discounts 320,205 5,681,613
Lease expense 185,540
Loss on extinguishment of debt 1,464,698
Gain on forgiveness of debt (47,717)
Loss on debt modification 1,942,156
Gain on sale of subsidiary (146,647)
Stock-based compensation 242,002
Gain on exchange of equity instruments and gain on change in fair value $ (2,500,000)
Fair value of warrants issued for services 157,969
Loss on change in fair value of equity investments $ 1,220,085
Changes in Assets and Liabilities:    
Accounts receivable, net (2,595,654) 483,820
Accounts receivable - related party (1,729,283) (18,368)
Inventory (271,453) 1,431,012
Prepaid expenses and other current assets 76,773 864,925
Prepaid expenses and other current assets - related party (983,063) (2,232,089)
Other assets (77,047) 846,322
Accounts payable and accrued expenses 2,628,217 (332,749)
Accounts payable and accrued expenses - related party 100,746 (296,974)
Customer advances (819,882) (125,400)
Other current liabilities 54,059 31,116
Lease liabilities (142,846)
Taxes payable 175,939 64,885
Other liabilities (26,841) (49,152)
NET CASH USED IN OPERATING ACTIVITIES (4,788,842) (1,555,306)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (672,789) (503,362)
Proceeds from sale of investments 1,261,718
Cash received from acquisition 307,590
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 588,929 (195,772)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of convertible note payable (365,514) (3,557,381)
Proceeds from convertible note payable 1,380,000 1,845,000
Payment of related party note payable (382,055) (18,330)
Proceeds from related party note payable 1,718,400
Payment of note payable (221,418) (1,259,804)
Proceeds from note payable 2,500,000 403,957
Payment of related party loan (262,226) (631,166)
Proceeds from related party loan 585,915 2,408,965
Proceeds from issuance of share settled debt obligation 1,554,590
Payment of lines of credit (11,098,839) (437,576)
Proceeds from lines of credit 12,371,190 41,700
Payments of finance lease liability (74,476)
Purchase of treasury stock (845,247) (80,053)
NET CASH PROVIDED BY FINANCING ACTIVITIES 3,587,330 1,988,302
Effect of exchange rate changes on cash (213,223) (155,734)
NET CHANGE IN CASH (825,806) 81,490
CASH AT BEGINNING OF YEAR 864,343 782,853
CASH AT END OF YEAR $ 38,537 $ 864,343
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period:
Interest $ 447,731 $ 299,946
Income tax 11,605
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Cancellation of pre-delivery shares issued for conversion of convertible notes payable 574
Issuance of note payable related to the acquisition of Cosmofarm 227,912
Related party accrual for repurchase of shares of common stock 48,683
Proceeds due from sale of subsidiary $ 5,811
Pre-delivery shares issued for future conversion of convertible notes payable 1,054
Discounts related to warrants issued with convertible debentures 910,078
Discounts related to beneficial conversion features of convertible debentures $ 120,000 $ 934,922
Conversion of convertible notes payable to common stock $ 1,050,000 $ 1,719,395