v3.19.3
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended 9 Months Ended
Sep. 30, 2019
Mar. 31, 2019
Sep. 30, 2018
Sep. 30, 2018
Sep. 30, 2019
Dec. 31, 2018
Cash flows from operating activities            
Net loss $ (1,796,982) $ (1,323,516) $ (387,401) $ (671,019) $ (4,445,726) $ (1,960,083)
Adjustments to reconcile net loss to net cash used in operating activities:            
Depreciation and amortization expense       850 9,432  
Loss on disposal of fixed assets   4,087  
Debt discounts       332,332 75,000
Stock-based compensation       175,000  
Amortization of options issued for services       1,079,525  
Decrease (increase) in assets:            
Other current assets       (149,123) (235,096)  
Inventory       (22,097)  
Right-of-use assets       (248,541)  
Security deposits       (61,301)  
Increase (decrease) in liabilities:            
Accounts payable       43,882 23,123  
Accrued expenses       26,854 21,986  
Lease liability       251,789  
Net cash used in operating activities       (748,556) (3,115,487)  
Cash flows from investing activities            
Cash acquired in merger       4,739  
Investment in note receivable       (50,000)  
Purchase of fixed assets       (254,248) (224,597)  
Net cash used in investing activities       (299,509) (224,597)  
Cash flows from financing activities            
Proceeds from convertible note payable       500,000  
Proceeds from shareholders       208,156  
Proceeds from contributed capital       136,440  
Repayment of advances from shareholders       (314,141)  
Proceeds from subscriptions receivable       602  
Proceeds from sale of common stock       800,010 4,004,500  
Net cash provided by financing activities       1,144,606 4,190,961  
Effect of exchange rate changes on cash       18,553 (21,121)  
Net increase in cash       115,094 829,756  
Cash - beginning   $ 125,846   125,846
Cash - ending $ 955,602   $ 115,094 115,094 955,602 $ 125,846
Supplemental disclosures:            
Interest paid       244 35,402  
Income taxes paid        
Non-cash investing and financing transactions:            
Fair value of net assets acquired in merger       9,306  
Value of shares issued for conversion of debt       701,397  
Beneficial conversion feature       $ 332,332  

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