Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (19,172,000) $ (7,521,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 2,000 1,000
Stock compensation expense for options and warrants issued to employees and non-employees 6,489,000 1,524,000
Amortization of debt discounts 6,855,000 1,376,000
Note Allonge 0 100,000
Non-cash interest expense 0 2,197,000
Amortization of loan costs 407,000 0
Changes in operating assets and liabilities:    
Other assets 0 0
Accounts payable and accrued expenses (581,000) 1,282,000
Net cash used in operating activities (6,000,000) (1,041,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of fixed assets (2,000) 0
Net cash used by investing activities (2,000) 0
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from notes payable 7,055,000 1,061,000
Loan costs (533,000) 0
Repayment of note payable 0 0
Net cash provided by financing activities 6,522,000 1,061,000
Minority Interest 0 0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 520,000 20,000
CASH AND CASH EQUIVALENTS - Beginning of period 576,000 19,000
CASH AND CASH EQUIVALENTS - End of period 1,096,000 39,000
Supplemental disclosures:    
Interest paid 0 0
Income taxes paid 0 0
Issuance of common stock upon conversion of convertible notes 0 2,025,000
Issuance of common stock upon conversion of accrued interest $ 0 $ 486,000