Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating Activites:    
Net income/(loss) $ 1,559,319 $ (773,101)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 9,455 9,147
Common stock issued for services 242,500
Options issued for services 411,109
Change in derivative liability (4,129,252)
Restricted stock units issued for services 128,693 78,472
Interest expense from amortization of debt discount 40,658
Deferred rent 3,553
Changes in operating assets and liabilities:    
Accounts receivable (86)
Prepaid expenses and other current assets (37,955) (7,971)
Deferred contracted software development costs - related party 55,938
Escrow fund 79,855 (214,750)
Deposits 78,000 (44,876)
Accrued interest 211,965 8,040
Accounts payable and accrued expenses 258,928 2,112
Unearned revenue - related party (156,000)
Net Cash Used in Operating Activities (1,143,258) (1,042,989)
Investing Activities:    
Purchases of property and equipment (8,737)
Cash acquired in merger 420
Net Cash Used in Investing Activities (8,317)
Financing Activities:    
Capital contributions 325,000
Proceeds from sale of Series A Preferred stock 1,500,004
Proceeds from notes payable 25,000
Payments on notes payable (27,500)
Demand obligation payable - related party 90,000
Short-term advance - related party 57,400
Net proceeds from convertible notes payable 677,500
Net proceeds from convertible notes payable - related party 95,000
Net Cash Provided by Financing Activities 919,900 1,822,504
Net Increase in Cash (223,358) 771,198
Cash - Beginning of Period 225,379 3,165
Cash - End of Period 2,021 774,363
Supplemental disclosure of non-cash investing and financing activities:    
Conversion of Series C Preferred stock to common stock 1,130 1,000
Conversion of Series A-1 Preferred stock to common stock 545
Supplemental disclosure of cash flow information:    
Interest paid in cash 346 1,268
Income taxes paid in cash