XML 15 R6.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
OPERATING ACTIVITIES:    
Net loss $ (1,736,726) $ (942,799)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount 303,081 501,710
Change in fair value of derivative liability 24,875 (619,953)
Common stock issued for services 277,721  
Change in assets and liabilities:    
Deferred revenue 229,865 750
Accounts payable (12,986) (21,220)
Accrued expenses 599,401 287,559
Net cash used in operating activities (314,769) (793,953)
INVESTING ACTIVITIES:    
Payment of deposit for acquisition (5,000) (5,000)
Net cash used in investing activities (5,000) (5,000)
FINANCING ACTIVITIES:    
Proceeds from convertible promissory notes payable 392,500 826,000
Repayment of convertible promissory notes payable (62,500) (60,000)
Net cash used in financing activities 330,000 766,000
NET DECREASE IN CASH AND CASH EQUIVALENTS 10,231 (32,953)
CASH AND CASH EQUIVALENTS, BEGINNING BALANCE 17,502 43,574
CASH AND CASH EQUIVALENTS, ENDING BALANCE 27,733 10,621
CASH PAID FOR:    
Interest 10,100 12,250
Income taxes 0 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Allocated value of warrants and beneficial conversion features related to debt 263,634 314,068
Debt converted to common stock $ 483,280 $ 89,144