Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net loss $ (683,247) $ (648,957)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation 5,489 3,334
Amortization of debt discount 28,887 7,777
Amortization 75,806 62,843
Stock option compensation expense 38,259 17,573
Common stock issued for services 3,060 44,480
Changes in operating assets and liabilities:    
Accounts receivable 88,667 9,938
Inventory (82,021) 36,318
Prepaid expenses and other current assets 63,077 18,455
Accounts payable 7,040 (67,170)
Accrued interest 31,250
Accrued interest - related party 3,815
Deferred rents 11,192  
Other assets (36,332)  
Net cash used in operating activities (445,058) (515,409)
Cash flows from investing activities:    
Purchase of fixed assets (8,035) (5,622)
Purchase of websites (119,500)
Net cash used in investing activities (8,035) (125,122)
Cash flows from financing activities:    
Sale of common stock 350,000
Repayments on insurance premium notes payable (25,242) (27,034)
Long-term debt - Loan from related parties 350,000 100,000
Net cash provided by financing activities 324,758 422,966
Net decrease in cash (128,335) (217,565)
Cash at beginning of period 162,795 416,187
Cash at end of period 34,460 198,622
Supplemental disclosure of cash flow information    
Cash paid for Interest 20,216 8,350
Cash paid for Income taxes
Non-cash investing and financing activities    
Premium finance loan payable recorded as prepaid 28,401 63,061
Payable for purchase of website 150,000
Debt discount on convertible notes payable $ 245,000