v3.19.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (3,208,345) $ (1,351,665)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 29,703 30,561
Share-based compensation 512,045 145,553
Amortization of debt discount 664,953
Deferred rent (1,006) 125
Changes in operating assets - (Increase)/Decrease:    
Prepaid expenses and other current assets (220,349) (1,954)
Changes in operating liabilities - Increase/(Decrease):    
Accounts payable (1,941,769) 477,328
Accrued liabilities (68,853) (345,802)
Non-convertible accrued interest - non-related and related party 10,617
Convertible accrued interest - related party 145,667 166,857
NET CASH USED IN OPERATING ACTIVITIES: (4,077,337) (878,997)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Payments for the purchase of property and equipment (3,430)
Payments for acquisition of intangibles (1,138) (3,880)
NET CASH USED IN INVESTING ACTIVITIES: (4,568) (3,880)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of non-convertible notes payable - related party and non-related party (985,000)
Payment of non-convertible notes payable accrued interest - related party and non-related party (20,038)
Proceeds from the issuance of non-convertible notes payable - non-related party 300,000
Proceeds from initial public offering 9,714,198
Proceeds from convertible notes payable - related party 875,000
NET CASH PROVIDED BY FINANCING ACTIVITIES: 9,009,160 875,000
Net increase (decrease) in cash and cash equivalents 4,927,255 (7,877)
Cash and cash equivalents, beginning of period 133,435 18,412
Cash and cash equivalents, end of period 5,060,690 10,535
Supplemental cash flow disclosures:    
Cash paid for interest 20,038
Accrued preferred dividends 160,219 320,000
Capital contributions - extinguishment of deferred compensation 434,065
Issuance of common stock for extinguishment of convertible note payable - related party and non-related party 10,352,219
Issuance of common stock for extinguishment of convertible note payable accrued interest - related party and non-related party 1,432,768
Issuance of common stock for extinguishment of dividends payable 4,773,480
Issuance of common stock for extinguishment of preferred stock A and preferred stock B 2,535
Deferred direct issuance costs - APIC $ 145,974

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