XML 17 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows from Operating Activities:    
Net loss $ (2,815,160) $ (1,803,970)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 127,771 5,900
Common stock issued for services to consultants 382,705 181,125
Common stock issued for services to employees 107,292
Amortization of debt discount 536,315 344,196
Fair value for beneficial conversion feature 51,480
Fair value of warrants and beneficial conversion features on debt conversion 256,411
Equity in earnings of OCHL (83,184)
Changes in operating assets and liabilities:    
(Increase)/Decrease in accounts receivable (6,298)
(Increase)/Decrease in prepaid expenses (86,821) (74,005)
(Increase)/Decrease in prepaid expenses - related party (90,000)
(Increase)/Decrease in other current assets (6,382)
(Decrease)/Increase in services payable- related party (239,080)
(Decrease)/Increase in accrued interest 98,634 (50,782)
(Decrease)/Increase in amount due to producers 205,096
(Decrease)/Increase in accounts payable and accrued liabilities 316,597 (41,127)
Net cash used in operating activities (1,462,949) (1,220,338)
Cash Flows from Investing Activities:    
Purchases of fixed assets (18,953)
Increase in other asset (15,000)
Net cash used in investing activities (15,000) (18,953)
Cash Flows from Financing Activities:    
Proceeds from notes payable, related party 445,100
Repayment of note payable, related party (350,000)
Proceeds from convertible notes 1,695,000
Proceeds from convertible notes, related party 50,000
Deferred offering costs (239,993)
Proceeds from warrant exercise 10,226 1,030
Proceeds from issuance of common stock 1,250,000
Repayment of loans, related party (67,124)
Net cash provided by financing activities 1,515,233 1,279,006
Net Increase/(Decrease) in cash 37,284 39,715
Cash, beginning of period 1,477,229 36,898
Cash, end of period 1,514,513 76,613
Supplemental disclosure of cash flow information:    
Cash paid for income taxes
Cash paid for interest
Supplemental disclosure of non-cash investing and financing activities:    
Fair value for warrants and beneficial conversion features issued as valuation discount 1,583,152
Fair value of warrants issued for note extension 1,661,114
Common stock issued upon conversion of note payable 205,918
Fixed assets 109,000
Intangible assets 1,909,700
Goodwill $ 1,321,300