Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Cash Flows (Unaudited)

v3.10.0.1
Consolidated Statement of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net loss $ (1,883,389) $ (623,685)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 126,993 40,047
Amortization of debt discount 622,096
Stock-based compensation expense 553,348 402,408
(Increase) decrease in:    
Accounts receivable (300,741) (150,993)
Inventory (3,503,677) (1,861,698)
Prepaid expenses and other assets 16,507 (267,022)
Increase (decrease) in:    
Accounts payable 622,286 831,929
Payroll and payroll tax liabilities 23,832 37,165
Customer deposits 57,258 (22,812)
Sales tax payable 144,660 44,077
Net cash used in operating activities (3,520,827) (1,570,584)
Cash flows from investing activities:    
Purchase of furniture and equipment (222,367) (359,543)
Purchase of intangibles (859,887) (299,371)
Net cash used in investing activities (1,082,254) (658,914)
Cash flows from financing activities:    
Principal payments on long term debt (134,432) (16,718)
Proceeds from issuance of convertible debt, net of expenses 8,912,765
Proceeds from the sale of common stock and exercise of warrants, net of expenses 12,042,822 3,794,664
Net cash provided by financing activities 20,821,155 3,777,946
Net increase in cash 16,218,074 1,548,448
Cash at the beginning of period 1,215,265 606,644
Cash at the end of period 17,433,339 2,155,092
Supplemental disclosures of non-cash financing activities:    
Cash paid for interest 19,330 3,761
Common stock issued for accrued payroll 108,420
Common stock issued for prepaid services 45,000 251,890
Debt converted to equity 779,320
Warrants issued for debt discount 4,239,000
Insurance premium financing 30,366
Acquisition of vehicles with debt financing 56,174 84,968
Assets acquired by issuance of common stock 1,390,550
Acquisition of assets with seller financing $ 564,000