Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (612,545) $ (478,184)
Adjustments to reconcile net income (loss) to net cash provided by (used by) operating activities:    
Depreciation and amortization 8,054 13,280
Bad debt expense 6,125 24,058
Amortization of discount on investment in account receivable (46,192) (56,212)
Loss on disposal of Investor Webcast assets and liabilities 0 345
Accrued investment interest income (2,351) 633
Investment loss 0 21,944
Decrease (increase) in operating assets    
Accounts receivable - trade 12,541 20,974
Prepaid expenses and other current assets 19,236 6,110
Employee advances (4,100) (1,435)
Increase (decrease) in operating liabilities    
Accounts payable 12,289 145,130
Accrued expenses (11,035) (48,475)
Deferred revenue 0 350
Accrued salary, retirement and benefits - related party 94,249 210,745
Net cash provided by (used by) operating activities (523,729) (140,737)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (3,134) (26,538)
Purchase of available-for-sale investment securities (1,049,086) 0
Cash advanced on notes receivable (700,000) 0
Payments received on notes receivable 5,200 0
Cash advanced on convertible note receivable (100,000) 0
Cash paid at Investor Webcast disposition 0 (550)
Proceeds from securities sold 0 28,669
Receipt of investment in receivable 0 26,000
Net cash provided by (used by) investing activities (1,847,020) 27,581
CASH FLOWS FROM FINANCING ACTIVITIES:    
Warrants converted to common stock, net of costs 2,203,105 135,152
Short term loan from related parties 0 25,000
Repayment on short term loan from related parties 0 (25,000)
Proceeds from long-term debt 0 43,143
Payments on long-term debt (19,996) (8,770)
Payment on line of credit 0 (10,000)
Non-controlling interest distribution (982) (21,000)
Net cash provided by (used by) financing activities 2,182,127 138,525
Net change in cash (188,622) 25,369
Beginning cash 1,311,338 73,679
Ending cash 1,122,716 99,048
SUPPLEMENTARY INFORMATION:    
Cash paid for interest 4,113 22,362
Cash paid for income taxes 8,800 3,000
NON-CASH INVESTING AND FINANCING TRANSACTION:    
Shareholder assumption of warrant liability resulting in increased liability to shareholder (80,054) (194,550)
Contractual interest in legal recovery purchased through issuance of 288,890 shares of restricted common stock in private offerings 600,002 0
Conversion of Electrum convertible note receivable to equity interest in Electrum, 4.71% as of the conversion date $ 107,771 $ 0