XML 26 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Dec. 31, 2016
Dec. 31, 2015
Cash Flows From Operating Activities:        
Net loss $ (901,818) $ (1,014,679) $ (5,199,619) $ (3,601,066)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 9,006 5,574 21,991 19,277
Loss on disposal of property and equipment 35,534    
Amortization of debt issuance costs 37,009 11,167 116,750 16,750
Amortization of beneficial conversion feature 148,077 228,550
Issuance of common stock in exchange for services 86,317 89,100 265,065 671,920
Issuance of common stock for payoff of trade debt     19,212 142,987
Stock-based compensation 158,658 105,839 374,687 140,370
Cumulative dividend on preferred stock     39,200
Gain on spin-off of subsidiary     (52,890)
Changes in operating assets and liabilities:        
Trade receivables (15,171) (40,974) (202,749) (4,265)
Inventories (112,208) 61,356 (96,213) (306,804)
Prepaid expenses and other assets 29,512 64,751 (23,208) 155,391
Accounts payable 13,961 (7,808) (843,498) 1,133,166
Accrued liabilities (466,335) 304,739 343,762 502,074
Deferred revenue (668) 1,381 1,399 (4,688)
Net cash used in operating activities (1,126,203) (271,477) (4,954,671) (1,187,778)
Cash Flows From Investing Activities:        
Cash acquired in acquisition 7,062    
Purchases of property and equipment (39,631) (6,954) (9,202) (50,076)
Net cash used in investing activities (32,569) (6,954) (9,202) (50,076)
Cash Flows From Financing Activities:        
Preferred stock deposit 151,200    
Stock issuance cost related to acquisition (5,580)    
Payments of principal on notes payable (1,716) (1,286)    
Proceeds from preferred stock, net of issuance costs of $69,528, with detachable warrants     429,572
Proceeds from common stock, with detachable warrants - related party     565,000
Proceeds from common stock, net of issuance costs of $6,033 and $23,762 with detachable warrants at March 31, 2017 and December 31, 2016. 802,467 2,451,238
Payments on convertible notes payable     (141,904) (4,892)
Proceeds from notes payable with warrants issued - related party     295,000
Proceeds from notes payable with warrants issued     1,405,000
Proceeds from convertible notes payable, net of issuance costs     185,000 289,273
Proceeds from (repayment of) related party note payable     (12,500) 12,500
Proceeds from warrant exercise - related party     50,000
Proceeds from warrant exercise 159,250 684,216
Net cash provided by financing activities 954,421 149,914 5,910,622 296,881
Net (decrease) increase in cash (204,351) (128,517) 946,749 (940,973)
Cash - beginning of period 1,088,066 141,317 141,317 1,082,290
Cash - end of period 883,715 12,800 1,088,066 141,317
Supplemental Disclosure of Cash Flow Information:        
Cash paid during the period for interest 10,800 1,380 91,237 4,593
Income taxes    
Supplemental Disclosure of Non-Cash Financing Activity:        
Issuance of common stock for the acquisition of MotherLode Craft Distillery, LLC 377,000    
Common stock issued in exchange of notes payable $ 87,500 196,330
Stock issued for payment of trade debt     19,212
Series A preferred issued in exchange for compensation - related party     423,000
Series A preferred issued in exchange of debt     50,000
Common stock issued in exchange for dividend     17,759
Stock-based compensation recorded as prepaid expenses and other long-term assets     65,625
Conversion of accounts payable to common stock     142,987
Exchange of warrant exercise used to repay notes payable - related party     169,999
Exchange of warrant exercise used to repay notes payable     $ 401,148