XML 26 R7.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash Flows From Operating Activities:    
Net loss $ (9,047,669) $ (5,277,917)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 364,813 92,016
Loss on disposal of property and equipment 40,975
Amortization of debt issuance costs 392,230 92,156
Impairment of goodwill and intangible assets 218,374
Issuance of common stock in exchange for services for related parties 712,469
Issuance of common stock in exchange for services for 3rd parties 412,831 642,309
Stock-based compensation 657,546 563,356
Changes in operating assets and liabilities:    
Trade receivables (748,757) 35,858
Inventories (6,966,177) (3,037,835)
Prepaid expenses and other assets (625,750) (612,977)
Accounts payable 721,209 804,976
Accrued liabilities 208,677 (572,485)
Deferred revenue 149 (547)
Net cash used in operating activities (13,918,429) (7,011,741)
Cash Flows From Investing Activities:    
Cash acquired in acquisition 4,541
Purchases of property and equipment (1,296,410) (657,477)
Net cash used in investing activities (1,296,410) (652,936)
Cash Flows From Financing Activities:    
Stock issuance cost related to acquisitions (19,980)
Stock issuance cost related to common shares issued for preferred conversion (9,361)
Proceeds from common stock, net of issuance costs of $1,120,323 and $23,762, respectively, with detachable warrants 6,728,079
Proceeds from common stock, net of issuance costs 8,679,123
Proceeds from option exercise 105,944
Proceeds from warrant exercise 8,004,181 159,250
Payments on conversion of note payable (90,000)
Payments of principal on notes payable (514,867) (106,902)
Proceeds from notes payable, net of issuance costs 3,630,000 2,501,840
Proceeds from notes payable, warrants issued 447,020
Proceeds from secured credit facility, net of issuance costs of $80,000 2,920,000
Net cash provided by financing activities 23,271,401 9,162,926
Net increase in cash 8,056,562 1,498,249
Cash - beginning of year 2,586,315 1,088,066
Cash - end of year 10,642,877 2,586,315
Supplemental Disclosure of Cash Flow Information    
Cash paid during the year for interest 293,342 103,293
Supplemental Disclosure of Non-Cash Financing Activity    
Issuance of common stock for the acquisition of MotherLode Craft Distillery, LLC 377,000
Acquisition of remaining non-controlling interest in Big Bottom Distilling, LLC 15,585 134,858
Common stock issued in exchange of notes payable 3,722,888 558,137
Issuance of debt discount $ 351,548