XML 41 R5.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities    
Net loss $ (2,017,347) $ (631,453)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 7,832 89,211
Amortization of convertible debt discounts 60,268
Accretion and settlement of financing instruments and change in fair value of derivative liability (1,346,797)
Changes in assets and liabilities:    
Accounts receivable 82,359 290,966
Inventories 304,970 218,553
Prepaid expenses and other assets (198)
Accounts payable (22,995) (259,425)
Accrued expenses (346,095) 8,412
Deferred revenue (91,453) (219,820)
Net cash used in operating activities (3,369,258) (503,754)
Cash Flows from Investing Activities    
Acquisition of business, net of cash 2,967,918
Purchase of property and equipment (17,636)
Net cash provided by financing activities 2,950,282
Cash Flows from Financing Activities    
Proceeds from convertible notes payable 667,000
Principal payments on mortgage and capital lease obligations (1,649) (23,214)
Principal payments on short-term notes payable (17,500)
Payments on advances from shareholders, net (111,173)
Proceeds from issuance of common stock 637,000
Proceeds from notes payable - related parties 45,000
Net cash provided by financing activities 665,351 530,113
Net Increase in Cash and Cash Equivalents 246,375 26,359
Cash, Beginning of Period 169,430 184,255
Cash, End of Period 415,805 210,614
Supplemental and Non Cash Disclosures    
Cash paid for interest 129,536 48,813
Related party note payable issued for acquisition of business 900,000
Settlement of conversion feature 149,374
Acquisition of goodwill and intangibles 3,760,287
Common stock issued in exchange for debt reduction 1,027,765
Noncash additions related to convertible debt 119,986
Stock compensation and stock issued for services $ 1,327,811