Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS

v3.7.0.1
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net loss $ (3,606,646) $ (3,893,413)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation 471 1,652
Amortization of patents and website 705,958 2,025,899
Deferred tax asset   (1,934,419)
Deferred tax liability   (76,463)
Impairment of intangible assets   373,195
Stock based compensation 41,424 550,436
Non-cash interest, discount, and financing costs 52,733 605,690
Change in fair value of Clouding earnout (13,879) 1,342
Non-controlling interest (70,636)  
Other non-cash adjustments 67,164 (33,607)
Changes in operating assets and liabilities:    
Accounts receivable (8,328) (15,275)
Bonds posted with courts (351,647) 359,960
Prepaid expenses and other assets (386,903) 192,352
Other non current assets 1,203 2,069
Accounts payable and accrued expenses (1,099,415) 1,953,751
Net cash provided by (used in) operating activities (4,668,501) 113,169
Cash flows from investing activities:    
Purchase of property, equipment, and other intangible assets (2,097) (2,097)
Net cash provided by (used in) investing activities (2,097) (2,097)
Cash flows from financing activities:    
Cash received upon issuance of common stock 1,262,865  
Issuance of Warrants 132,427  
Proceeds from Fortress note payable 4,500,000  
Payments on note payable, net (103,000)  
Net cash provided (used in) by financing activities 167,292 (1,248,440)
Effect of exchange rate changes on cash (1,556) 2,607
Net decrease in cash (4,504,862) (1,134,761)
Cash at beginning of period 4,998,314 2,555,151
Cash at end of period 493,452 1,420,390
Cash paid for:    
Interest expense 333,608 401,159
Taxes paid   7,999
Fortress    
Cash flows from financing activities:    
Payments on notes payable (4,500,000) (1,184,600)
Seimens    
Cash flows from financing activities:    
Payments on notes payable (1,000,000)  
3D Nano    
Cash flows from financing activities:    
Payments on notes payable (100,000)  
Vendor    
Cash flows from financing activities:    
Payments on notes payable $ (25,000) $ (63,840)