Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating Activites:    
Net income/(loss) $ 1,887,552 $ (176,277)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6,303 5,995
Common stock issued for services 242,500
Options issued for services 338,334
Change in derivative liability (4,015,061)
Restricted stock units issued for services 128,693
Interest expense from amortization of debt discount 24,456
Unearned revenue - related party (156,000)
Changes in operating assets and liabilities:    
Accounts receivable (341)
Prepaid expenses and other current assets (64,205) 1,000
Deferred contracted software development costs - related party 55,938
Escrow fund 71,546
Deposits 78,000 (3,000)
Accrued interest 119,603 5,439
Accounts payable and accrued expenses 254,904 8,022
Net Cash Used in Operating Activities (927,716) (258,883)
Investing Activities:    
Purchases of property and equipment (8,736)
Net Cash Used in Investing Activities (8,736)
Financing Activities:    
Capital contributions 325,000
Net proceeds from convertible notes payable 617,500
Net proceeds from convertible notes payable - related party 95,000
Net Cash Provided by Financing Activities 712,500 325,000
Net Increase in Cash (215,216) 57,381
Cash - Beginning of Period 225,379 3,165
Cash - End of Period 10,163 60,546
Supplemental disclosure of non-cash investing and financing activities:    
Conversion of Series C Preferred stock to common stock 1,130
Conversion of Series A-1 Preferred stock to common stock 545
Supplemental disclosure of cash flow information:    
Interest paid in cash 135 674
Income taxes paid in cash