Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows(Unaudited)

v3.4.0.3
Condensed Consolidated Statements of Cash Flows(Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (192,144) $ (183,589)
Adjustments to reconcile net income (loss) to net cash provided by (used by) operating activities:    
Depreciation and amortization 5,938 7,494
Amortization of discount on investment in account receivable (24,458) (2,250)
Loss on disposal of Investor Webcast assets and liabilities. 345 0
Accrued investment interest income (95) (326)
Investment loss 21,944 0
Decrease (increase) in operating assets    
Accounts receivable - trade 50,499 (838)
Prepaid expenses and other current assets 3,328 14,655
Employee advances (1,344) 1,200
Increase (decrease) in operating liabilities    
Accounts payable 32,926 (11,303)
Accrued expenses (11,736) (18,750)
Deferred revenue 350 0
Borrowing on line of credit (10,000) 0
Accrued salary, retirement and benefits - related party 113,498 32,172
Net cash provided by (used by) operating activities (10,949) (161,535)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (6,297) (1,221)
Securities purchased 0 (2,339)
Cash paid at Investor Webcast disposition (550) 0
Proceeds from securities sold 28,669 1,053
Receipt of investment in receivable 26,000 117,000
Net cash provided by (used by) investing activities 47,822 114,493
CASH FLOWS FROM FINANCING ACTIVITIES:    
Warrants converted to common stock, net of costs 43,450 99,855
Short term loan from related parties 25,000 0
Payments on long-term debt (3,492) (5,187)
Proceeds from debt 28,500 0
Non-controlling interest distribution 0 (25,060)
Net cash provided by (used by) financing activities 93,458 69,608
Net change in cash 130,331 22,566
Beginning cash 73,679 326,228
Ending cash 204,010 348,794
SUPPLEMENTARY INFORMATION:    
Cash paid for interest 10,700 1,852
Cash paid for income taxes 600 0
NON-CASH INVESTING AND FINANCING TRANSACTION:    
Shareholder assumption of warrant liability resulting in increased liability to shareholder $ (105,400) $ (24,074)