Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income (loss) $ (3,708,968) $ (2,524,873)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 33,726 57,878
Common stock issued in exchange for services 473,800
Change in fair value of derivative liability (1,817,014) (160,088)
Change in fair value of warrant liability (1,091,663)
Interest expense related to debt issuance cost 999,920
Derivative expense 281,515
(Gain) / Loss on settlement of vendor liabilities 5,235,869 (154,255)
Stock based compensation 360,846 247,420
Gain on extinguishment of debt (4,581)
Interest expense related to amortization of debt issuance costs and debt discount 3,605 275,407
Changes in assets and liabilities:    
Inventory 31,786 (10,766)
Prepaid expenses and other assets 25,204 41,365
Tooling in process (173,854)
Accounts payable and accrued liabilities 554,344 399,378
Customer deposits 20,756
Long term obligations 16,265
Current portion leases payable (742)
Net cash used in operating activities (248,429) (339,291)
Cash flows from financing activities    
Proceeds from the issuance of common stock 245,500
Proceeds from note payable - related party 105,000 165,000
Repayment of related party loans (90,000)
Proceeds from note payable, net of debt discount and issuance cost 263,500
Proceeds from the issuance of convertible notes payable, net of issuance costs 55,000
Repayments on asset based loans (120,461)
Net cash provided by financing activities 160,000 463,539
Net change in cash (88,429) 124,248
Cash, beginning of period 119,028 38,203
Cash, end of period 30,599 162,451
Supplemental cash flow information:    
Interest paid 13,755
Taxes paid
Supplemental disclosure of non-cash investing and financing activities:    
Settlement of debt with convertible note 60,000 655,955
Stock issued for settlement of vendor liabilities 640,875
Conversion of convertible preferred stock to common stock 3,604,300
Derivative cease to exist upon conversion of notes $ 1,783,475