XML 19 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows From Operating Activities:    
Net loss $ (3,602,104) $ (3,760,629)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 53,770 16,579
Loss on disposal of property and equipment 40,975
Amortization of debt issuance costs 68,305 116,750
Amortization of beneficial conversion feature 228,549
Issuance of common stock in exchange for services 413,936 218,970
Stock-based compensation 486,194 208,977
Changes in operating assets and liabilities:    
Trade receivables 158,374 (240,798)
Inventories (1,403,499) (197,828)
Prepaid expenses and other assets (243,829) 94,127
Accounts payable 61,669 (476,158)
Accrued liabilities (587,112) 657,650
Deferred revenue (1,306) 2,467
Net cash used in operating activities (4,554,627) (3,131,344)
Cash Flows From Investing Activities:    
Cash acquired in acquisition 4,541
Purchases of property and equipment (381,837) (6,952)
Net cash used in investing activities (377,296) (6,952)
Cash Flows From Financing Activities:    
Stock issuance cost related to acquisitions (19,980)
Stock issuance cost related to common shares issued for preferred conversion (15,000)
Proceeds from common stock, net of issuance costs of $1,120,323, with detachable warrants 6,707,487
Proceeds from warrant exercise 159,250
Payments on conversion of note payable (90,000) (500,923)
Payments of principal on notes payable (107,815)
Proceeds from convertible notes payable, net of issuance costs 1,400,000 185,000
Proceeds from notes payable, warrants issued 1,250,000
Proceeds from preferred stock, net of issuance costs of $35,920, with warrants 463,080
Proceeds from common stock with detachable warrants 2,000,000
Net cash provided by financing activities 8,033,942 3,397,157
Net increase in cash 3,102,019 258,861
Cash - beginning of period 1,088,066 141,317
Cash - end of period 4,190,085 400,178
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest 90,276 294,240
Supplemental Disclosure of Non-Cash Financing Activity    
Issuance of common stock for the acquisition of MotherLode Craft Distillery, LLC 377,000
Issuance of common stock for the acquisition of Big Bottom Distilling, LLC 134,858
Note payable issued in exchange of accounts payable 60,000
Common stock issued in exchange of notes payable 505,637
Issuance of common stock in exchange for services recorded as other assets 145,000
Stock issued for payment of trade debt 19,213
Dividends paid in common stock 17,759
Stock issued in lieu of accrued compensation 423,000
Stock issued to retire notes and accrued interest $ 246,330