Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF CASH FLOWS

v3.19.1
STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Operating Activites:    
Net income (loss) from continuing operations $ (3,313,561) $ 2,756,806
Net income (loss) from discontinued operations 670,248 (1,627,979)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 154,712 12,607
Common stock issued for services 228,233 242,500
Warrants and options issued for services 697,329 483,884
Change in derivative liabilities 9,928 (4,193,081)
Net cryptocurrencies received in lieu of cash (103,721)
Cryptocurrencies paid in lieu of cash 107,943
Loss recognized on disposition of cryptocurrencies 55,597
Impairment of cryptocurrencies 7,025
Restricted stock units issued for services 128,693
Interest expense from amortization of debt discount 64,915 53,564
Deferred rent 904
Loss on sale of equipment 522,917
Provision for loss on note receivable 100,000
Gain on sale of subsidiary (670,428)
Changes in operating assets and liabilities:    
Accounts receivable (938) (38)
Interest receivable 431,447 321,824
Prepaid expenses and other current assets 110,619 (11,705)
Escrow fund 79,855
Accrued interest 431,447 321,824
Accounts payable and accrued expenses (5,475) 314,115
Net Cash Used in Operating Activities (943,640) (1,438,051)
Investing Activities:    
Purchases of property and equipment (974,305)
Reserve for impairment of cryptocurrency mining equipment 55,000
Proceeds from sale of equipment 50,000
Proceeds from note receivable 20,000
Proceeds from sale of subsidiary net of subsidiary cash 99,495
Deposits 86,376
Purchases of cryptocurrency (100,000)
Net Cash Used in Investing Activities (849,810) 86,376
Financing Activities:    
Proceeds from notes payable 151,000
Repayment of note payable (76,000)
Proceeds from notes payable - related party 15,000
Demand obligation payable - related party 116,883
Short-term advance - related party 57,400
Net proceeds from convertible notes payable 1,150,000 1,511,250
Net Cash Provided by Financing Activities 1,240,000 1,685,533
Net Increase (Decrease) in Cash (553,450) 333,858
Cash - Beginning of Year 559,237 225,379
Cash - End of Year 5,787 559,237
Supplemental disclosure of non-cash investing and financing activities:    
Issuance of Series E Preferred for Series A, A-1 and C Preferred and warrants 1,629,838
Issuance of Series E Preferred for convertible debt and accrued interest 939,966
Conversion of Series E Preferred stock to common stock 181,524
Conversion of Series C Preferred stock to common stock 1,130
Conversion of Series A-1 Preferred stock to common stock 545
Note receivable from sale of subsidiary 120,000
Supplemental disclosure of cash flow information:    
Interest paid in cash 697
Income taxes paid in cash