Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (951,660) $ (410,259)
Change in net loss to net cash used in operating activities:    
Depreciation and amortization expense 341 299
Amortization of debt discount and non-cash interest expense 431,874 3,117
Change in fair value of derivative liabilities 47,219
Fair value of stock options vested 5,914 4,334
Common stock issued for services 10,002 561
Changes in operating assets and liabilities:    
Accounts receivable (1,151)
Inventory (371)
Other liabilities (1,782) (1,411)
Prepaid expenses and other current assets 11,308 (5,707)
Accounts payable and accrued expenses 196,513 17,163
Accounts payable - related party (526) (31,900)
NET CASH USED IN OPERATING ACTIVITIES (252,319) (423,803)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (1,005)
NET CASH USED IN INVESTING ACTIVITIES (1,005)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from convertible notes payable 230,000
Proceeds from note payable 20,000
Proceeds from related party loans 75,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 20,000 305,000
Effect of exchange rate changes on cash (1,170)
NET CHANGE IN CASH (233,489) (119,808)
CASH AT BEGINNING OF THE PERIOD 261,436 163,563
CASH AT END OF THE PERIOD 27,947 43,755
Supplemental Disclosure of Cash Flow Information    
Cash paid for interest
Cash paid for taxes
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Financing fees payable to a related party related to the issuance of convertible debentures 18,400
Debt discount and derivative liability associated with convertible notes payable $ 176,274