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, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (855,141) $ (764,795)
Adjustments to reconcile net income (loss) to net cash provided by (used by) operating activities:    
Depreciation and amortization 25,761 35,355
Amortization of discount on investment in account receivable (103,414) (67,470)
Bad debt expense 37,986 16,610
Loss on disposal of Investor Webcast, LLC assets & liabilities 345 0
Gain on equipment disposal (11,568) 0
Change in accrued investment interest income (24,283) (2,830)
Investment loss., 21,944 156,372
Gain on conversion of investment in MicroCannaBiz to note receivable 0 (35,360)
Impairment of MicroCannaBiz note receivable 0 74,000
Goodwill impairment 0 466,765
Gain on convertible security valuation 0 (589,611)
Decrease (increase) in operating assets    
Accounts receivable - trade (39,280) (69,470)
Prepaid expenses and other current assets (24,628) 37,035
Employee advances 1,965 (1,177)
Other assets 0 1,000
Increase (decrease) in operating liabilities    
Accounts payable 75,399 53,337
Accrued expenses (29,618) (78,802)
Deferred revenue (20,650) 866
Accrued salary, retirement and benefits - related party 554,006 135,683
Net cash provided by (used by) operating activities (370,176) (632,492)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (30,239) (18,021)
Proceeds from sale of property and equipment 22,913 0
Securities purchased 0 (1,060)
Proceeds from securities sold 28,669 8,014
Cash paid at Investor Webcast disposition (550) 0
Receipt of investment in receivable 26,000 117,000
Proceeds from note receivable 44,678 0
Other receivable advance 0 (116,859)
Investment in MicroCannaBiz 0 (2,000)
Net cash provided by (used by) investing activities 91,471 12,926
CASH FLOWS FROM FINANCING ACTIVITIES:    
Warrants converted to common stock, net of costs 1,442,962 332,250
Common stock repurchased and retired 0 (15,705)
Proceeds from private placement of unregistered common stock 100,000 0
Short term loan from related parties 25,000 0
Repayment on short term loan from related parties (25,000) 0
Borrowing (payment) on line of credit (70,000) 10,000
Proceeds from long-term debt 139,143 0
Payments on long-term debt (72,104) (19,707)
Proceeds from convertible security 0 120,000
Non-controlling interest distribution (23,637) (33,969)
Net cash provided by (used by) financing activities 1,516,364 392,869
Net change in cash 1,237,659 (252,549)
Beginning cash 73,679 326,228
Ending cash 1,311,338 73,679
SUPPLEMENTARY INFORMATION:    
Cash paid for interest 41,134 15,505
Cash paid for income taxes 3,000 800
NON-CASH INVESTING AND FINANCING TRANSACTION:    
Shareholder assumption of warrant liability resulting in increased liability to shareholder (194,550) (105,197)
Investment in account receivable, net of discount, via issuance of shares 0 471,647
Other non-cash settlement of account payable    
Assignment of current portion of investment in accounts receivable 117,000 0
Assignment of note receivable 46,322 0
Net Other non-cash settlement of account payable $ 163,322 $ 0