Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ (715,165) $ (855,141)
cash provided by (used by) operating activities:    
Depreciation and amortization 15,706 25,761
Bad debt expense 38,284 37,986
Amortization of discount on investment in account receivable (91,375) (103,414)
Loss on disposal of Investor Webcast, LLC assets & liabilities 0 345
Gain on equipment disposal 0 (11,568)
Investment interest income (2,281) (181)
Investment loss 163,445 21,944
Decrease (increase) in operating assets    
Cash in attorney trust account (314,536) 0
Accounts receivable - trade (101,678) (39,280)
Receivable - Bhang Corporation (487,099) 0
Prepaid expenses and other current assets (1,249) (24,628)
Employee advances (12,983) 1,965
Increase (decrease) in operating liabilities    
Accounts payable 34,688 75,399
Accrued expenses 59,947 (29,618)
Deferred revenue 0 350
Accrued salary, retirement and benefits - related party (68,897) 554,006
Net cash provided by (used by) operating activities (1,483,193) (346,074)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Securities purchased (1,071,901) 0
Proceeds from securities sold 754,643 28,669
Cash paid at Investor Webcast disposition 0 (550)
Advances on notes receivable (900,000) 0
Payments received on note receivable 18,979 44,678
Advances on convertible notes receivable (125,000) (25,000)
Payments received on convertible notes receivable 9,269 898
Purchases of property and equipment (20,437) (30,239)
Proceeds from sale of property and equipment 0 22,913
Receipt of investment in receivable 0 26,000
Net cash provided by (used by) investing activities (1,334,447) 67,369
CASH FLOWS FROM FINANCING ACTIVITIES:    
Warrants converted to common stock, net of costs 2,395,105 1,442,962
Proceeds from private placement of unregistered common stock 0 100,000
Short term loan from related parties 0 25,000
Repayment on short term loan from related parties 0 (25,000)
Borrowing (payment) on line of credit 0 (70,000)
Proceeds from long-term debt 0 139,143
Payments on long-term debt (34,833) (72,104)
Non-controlling interest distribution (19,780) (23,637)
Net cash provided by (used by) financing activities 2,340,492 1,516,364
Net change in cash (477,148) 1,237,659
Beginning cash 1,311,338 73,679
Ending cash 834,190 1,311,338
SUPPLEMENTARY INFORMATION:    
Cash paid for interest 3,251 41,134
Cash paid for income taxes 11,530 3,000
NON-CASH INVESTING AND FINANCING TRANSACTION:    
increased liability to shareholder (92,054) (194,550)
Contractual interest in legal recovery purchased through issuance of 288,890 shares of restricted common stock in private offerings 600,002 0
Other non-cash settlement of account payable    
Assignment of current portion of investment in accounts receivable 0 117,000
Assignment of note receivable 0 46,322
Non-cash settlement of accounts payable $ 0 $ 163,322