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 ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (5,807,439) $ 4,012,866
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation 948 2,710
Amortization of patents and website 1,345,846 3,987,310
Deferred tax asset   3,547,856
Deferred tax liability   (275,490)
Impairment of intangible assets   993,890
Impairment of goodwill 0 83,000
Stock based compensation 183,356 1,062,200
Stock issued for services   136,000
Non-cash interest, discount, and financing costs 59,607 664,182
Change in fair value of Clouding earn out (13,879) (167,830)
Allowance for doubtful accounts   12,226
Non-controlling interest (155,286) (3,722)
Other non-cash adjustments (120,703) (104,899)
Changes in operating assets and liabilities    
Accounts receivable (21,267) (2,718)
Bonds posted with courts (375,603) (518,455)
Prepaid expenses and other assets (289,533) 165,301
Other non current assets 1,203  
Accounts payable and accrued expenses (1,922,462) (469,660)
Net cash provided by (used in) operating activities (7,115,212) 13,124,767
Cash flows from investing activities:    
Acquisition of patents   (1,150,000)
Purchase of property, equipment, and other intangible assets (4,194) (6,291)
Net cash used in investing activities (4,194) (1,156,291)
Cash flows from financing activities:    
Cash received upon issuance of equity (net of issuance costs) 3,753,063  
Issuance of Warrants 137,334  
Payments on note payable, net (103,000) (437,070)
Net cash provided by (used in) by financing activities 3,212,397 (7,364,703)
Effect of exchange rate changes on cash 4,416 (145)
Net increase (decrease in) cash (3,902,593) 4,603,628
Cash at beginning of period 4,998,314 2,555,151
Cash at end of period 1,095,721 7,158,779
Cash paid for:    
Interest expense 456,917 1,187,074
Taxes paid 17,242 27,682
Cash invested in 3DNano   115,000
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Revenue share liability incurred in conjunction with note payable 225,000  
Warrant issued in conjunction with common stock issuance 257,957  
Note payable in conjunction with the acquisition of Munitech patents   1,750,000
Convertible debt warrant repricing   6,425
Medtech And Orthophoenix    
Cash flows from financing activities:    
Payments on notes payable   (2,953,779)
Fortress    
Cash flows from financing activities:    
Payments on notes payable   $ (3,973,854)
3D Nano    
Cash flows from financing activities:    
Payments on notes payable (100,000)  
Convertible notes payable 50,000  
Medtech Note    
Cash flows from financing activities:    
Proceeds from notes payable 600,000  
Seimens    
Cash flows from financing activities:    
Payments on notes payable (1,000,000)  
Vendor    
Cash flows from financing activities:    
Payments on notes payable $ (125,000)