XML 38 R5.htm IDEA: XBRL DOCUMENT v3.2.0.727
STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities    
Net loss $ (1,012,396) $ (15,230)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities    
Depreciation and amortization 13,888  
Bad debt expense 88,760  
Stock based compensation 436,425  
Changes in operating assets and liabilities    
Accounts receivable (369,843) $ 8,152
Inventories 10,622  
Brand participation fee 150,000  
Other assets (137,345)  
Accounts payable and accrued liabilities 81,860 $ (1,214)
Accounts payable - related parties (71,024)  
Deferred revenue (234,917)  
Net cash used in operating activities (1,043,970) $ (8,292)
Cash flows from investing activities    
Deposits (13,216)  
Purchase of property and equipment (141,045)  
Net cash used in investing activities (154,261)  
Cash flows from financing activities    
Proceeds from issuance of common stock 340,000  
Net cash provided by financing activities 340,000  
Net change in cash (858,231) $ (8,292)
Cash, beginning of period 1,344,737 14,301
Cash, end of period $ 486,506 $ 6,009
Supplemental disclosure of cash flow information:    
Income taxes paid    
Interest paid    
Supplementary disclosure of noncash financing activities:    
Issuance of common stock for intellectual property $ 250,000  
Cancellation of common stock for intellectual property $ (100,000)