XML 26 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (304,587) $ (1,516,334)
Adjustments to reconcile net loss to net cash used in operating activities:    
Fair value of options and warrants issued in exchange for services 51,597 335,828
Common stock issued for services 15,275
Accretion of discount on notes payable 64,529
Change in fair value of warrant liability 28,256 36,643
Change in fair value of embedded derivative liability 21,282 463,000
Amortization and depreciation (2,212) 7,644
Amortization of deferred compensation 202,691
(Increase) decrease in assets    
Inventory 1,535 (20,120)
Prepaid expenses 300
Decrease in liabilities    
Accounts payable and accrued expenses (5,122) (101,305)
Net cash used in operating activities (144,422) (576,678)
CASH FLOWS FROM INVESTING ACTIVITIES    
Employee advances (36,083)
Net cash used in investing activities (36,083)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of notes payable 145,000
Stock issuance costs   (17,500)
Net cash provided by financing activities 145,000 1,217,500
NET INCREASE IN CASH AND CASH EQUIVALENTS 578 604,739
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR 22,644 4,152
CASH AND CASH EQUIVALENTS - END OF YEAR 23,222 608,891
Cash paid during the year for: Interest
Cash paid during the year for: Income taxes
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Security deposit offset against accounts payable 37,197
Accretion of discount on preferred stock as deemed dividend distribution 1,235,000
Revaluation of restricted stock units between additional paid in capital and deferred compensation 82,125
Warrants issued as discount to notes payable 119,651
Series A Convertible Preferred Stock [Member]    
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Convertible Preferred Stock converted to common stock 660 294
Series B Convertible Preferred Stock [Member]    
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Convertible Preferred Stock converted to common stock 292
Series C Convertible Preferred Stock [Member]    
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from sale of Convertible Preferred Stock $ 1,235,000