XML 18 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash Flows From Operating Activities:    
Net loss $ (8,448,886) $ (4,234,461)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation 159,101 119,213
Write-off of obsolete inventory 164,903
Loss on disposal of equipment 36,876
Change in fair value of derivative liabilities 1,829,709
Derivative expense 5,110,879
Accretion of debt discount 1,456
Loss on CONtv joint venture 262,500 1,324,727
Loss on investment 24,997
Share-based compensation 777,536 1,315,869
Changes in operating assets and liabilities:    
Accounts receivable 219,323 (407,142)
Inventory (125,351) (39,552)
Prepaid convention expenses 285,689 588,641
Prepaid rent- related party (181,796)
Prepaid insurance (58,422) 63,801
Prepaid taxes 280,000
Other prepaid expenses (6,455) (4,331)
Security deposit 1,154 (1,000)
Accounts payable and accrued expenses (639,666) (16,902)
Unearned revenue (2,156,560) 1,709,263
Net Cash (Used in) Provided by Operating Activities (2,488,009) 443,123
Cash Flows from Investing Activities:    
Purchase of property and equipment (169,802) (105,257)
Proceeds received on disposal of equipment 4,850
Investment in CONtv joint venture - net (150,000) (1,408,891)
Net Cash Used In Investing Activities (311,140) (1,514,148)
Cash Flows from Financing Activities:    
Proceeds from issuance of convertible promissory note and warrants 2,500,000
Payment of debt issuance costs (25,000)
Proceeds from the exercise of warrants 1,667
Proceeds from the exercise of options 4,000
Net Cash Provided By Financing Activities 2,476,667 4,000
Net change in cash and cash equivalents (322,482) (1,067,025)
Cash and cash equivalents at beginning of reporting period 4,723,699 5,790,724
Cash and cash equivalents at end of reporting period 4,401,217 4,723,699
Supplemental disclosures of cash flow information:    
Interest paid 200 2,909
Income tax paid
Supplemental disclosure of non-cash investing and financing activities:    
Acquisition of controlling interest of ConBox 96,781
Derivative liability recorded on convertible debt and warrant issuances 7,500,879
Common stock issued for debt discount recorded on convertible note 85,000
Extinguishment of derivative liability from exercise of warrants $ 2,831,851