Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows(Unaudited)

v3.5.0.2
Condensed Consolidated Statements of Cash Flows(Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (478,184) $ (342,088)
Adjustments to reconcile net income (loss) to net cash provided by (used by) operating activities:    
Depreciation and amortization 13,280 15,431
Amortization of discount on investment in account receivable (56,212) (18,555)
Bad debt expense 24,058 0
Loss on disposal of Investor Webcast, LLC assets and liabilities 345 0
Change in accrued investment interest income 633 (2,130)
Investment loss 21,944 2,698
Gain on conversion of investment in MicroCannaBiz to note receivable 0 (35,360)
Decrease (increase) in operating assets    
Accounts receivable - trade 20,974 921
Prepaid expenses and other current assets 6,110 34,080
Employee advances (1,435) (850)
Increase (decrease) in operating liabilities    
Accounts payable 145,130 (19,081)
Accrued expenses (48,475) (144,890)
Deferred revenue 350 78,964
Accrued salary, retirement and benefits - related party 210,745 86,374
Net cash provided by (used by) operating activities (140,737) (344,486)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (26,538) (10,603)
Securities purchased 0 (1,061)
Proceeds from securities sold 28,669 1,053
Cash paid at Investor Webcast disposition (550) 0
Receipt of investment in receivable 26,000 117,000
Effect of deconsolidating MicroCannaBiz, LLC on April 27, 2015 and converting investment to note receivable 0 (9,832)
Net cash provided by (used by) investing activities 27,581 96,557
CASH FLOWS FROM FINANCING ACTIVITIES:    
Warrants converted to common stock, net of costs 135,152 277,672
Common stock repurchased and retired 0 (9,213)
Short term loan from related parties 25,000 0
Repayment on short term loan from related parties (25,000) 0
Payments on long-term debt (8,770) (10,423)
Payment on line of credit (10,000) 0
Sale of convertible security 43,143 0
Non-controlling interest distribution (21,000) (25,060)
Net cash provided by (used by) financing activities 138,525 232,976
Net change in cash 25,369 (14,953)
Beginning cash 73,679 326,228
Ending cash 99,048 311,275
SUPPLEMENTARY INFORMATION:    
Cash paid for interest 22,362 7,778
Cash paid for income taxes 3,000 0
NON-CASH INVESTING AND FINANCING TRANSACTION:    
Shareholder assumption of warrant liability resulting in increased liability to shareholder (194,550) (75,706)
Investment in account receivable, net of discount, via issuance of shares $ 0 $ 547,353