XML 66 R6.htm IDEA: XBRL DOCUMENT v3.19.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Mar. 31, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
CASH FLOW FROM OPERTING ACTIVIITES                
Net income (loss) $ (267,246) $ (107,002) $ (64,994) $ (114,528) $ (146,718) $ (211,342) $ (332,867)  
Adjustments to reconcile net income (loss) to net cash used in operating activities                
Amortization of debt discount           20,127  
Bargain purchase gain         (304,160)  
Bad debt expense           14,221  
Forgiveness of debt (55,450)         (55,450)  
Depreciation and amortization 36,427         47,122  
Lease cost, net of repayment           6,575  
Foreign currency (gain) loss           898  
Deferred tax provision           9,104  
Changes in assets and liabilities                
Accounts receivable           (57,728) (24,380)  
Prepaid expenses and other current assets           16,886 (7,134)  
Other assets            
Accounts payable and accrued expenses           210,133 138,778  
Accrued payroll and payroll taxes           (53,434)  
Accrued duties and taxes           (25,110)  
Deferred revenue           (1,562)  
Total adjustments           (192,505) 127,391  
Net cash used in operating activities           (403,847) (205,476)  
CASH FLOWS FROM INVESTING ACTIVITES                
Cash received in acquisition of Mann           234  
Restricted cash received in acquisition of Mann           185,399  
Acquisition of fixed assets           (3,417)  
Net cash provided by investing activities           182,216  
CASH FLOWS FROM FINANCING ACTIVITES                
Decrease in cash overdraft           (41,677)  
Proceeds from long-term debt - related parties           485,670 155,849  
Repayment of long-term debt - related parties           (6,500) (11,903)  
Proceeds from long-term debt           30,000 66,900  
Repayments of long-term debt           (62,156) (56,380)  
Proceeds from convertible notes - related and unrelated parties           50,000  
Net cash provided by financing activities           405,337 204,466  
NET INCREASE (DECREASE) IN CASH AND RESTRICTED CASH           183,706 (1,010)  
CASH AND RESTRICTED CASH - BEGINNING OF PERIOD   $ 2,347 708   $ 1,718 2,347 1,718 $ 1,718
CASH AND RESTRICTED CASH - END OF PERIOD $ 186,053   $ 2,347 $ 708   186,053 708 $ 2,347
CASH PAID DURING THE PERIOD FOR:                
Interest expense           13,177 7,225  
Income taxes            
Acquisition of Mann:                
Accounts receivable           506,951  
Prepaid and other current assets           215,191  
Right-of-use asset           576,566  
Fixed assets           68,260  
Other assets           37,950  
Investment           42,248  
Intangible assets           1,019,580  
Accounts payable and accrued expenses           (173,498)  
Accrued payroll and related taxes           (325,629)  
Accrued duties and taxes           (66,765)  
Lease liability           (585,207)  
Deferred revenue           (3,618)  
Deferred tax liability           (140,143)  
Long-term debt           (90,314)  
Cash overdraft           (471,017)  
Accumulated other comprehensive income (loss)           (5,116)  
Cash           234  
Restricted cash           185,399  
Total net assets acquired           791,072  
Consideration per Share Exchange Agremeent           486,912  
Goodwill/(Bargain Purchase Gain)           $ (304,160)