Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows From Operating Activities    
Net loss $ (3,899,460) $ (1,557,738)
Adjustments to reconcile net loss to net cash used in operating activities:    
Change in fair value of derivative liabilities (118,500) (390,400)
Warrant modification expense 283,500
Amortization of debt discount (10,095) 201,455
Loss on exchange of notes payable for preferred shares (262,470)
Loss on extinguishment of debt 1,504
Gain on forgiveness of accrued expenses (38,427)
Stock-based compensation:    
Common Stock 1,750
Options 825,100
Warrants 78,791
Changes in operating assets and liabilities:    
Prepaid expenses (1,389) 39,426
Other current assets (20,369) (12,385)
Accounts payable 170,737 87,208
Accrued expenses 455,602 40,173
Accrued expenses-related parties 33,333
Accrued interest 159,350 85,728
Accrued interest - related parties 2,244 13,244
Accrued compensation 69,797 80,362
Net Cash Used In Operating Activities (1,723,872) (1,412,927)
Cash Flows From Financing Activities:    
Proceeds from issuance of notes payable 120,000 500,000
Proceeds from issuance of convertible notes payable 165,000
Proceeds from advances payable 275,500 500,000
Repayment of notes payable (70,000)
Proceeds from issuance of preferred stock - Series A 1,223,269 50,000
Net Cash Provided By Financing Activities 1,713,769 1,050,000
Net Decrease In Cash (10,103) (362,927)
Cash - Beginning of Period 18,934 371,048
Cash - End of Period 8,831 8,121
Supplemental Disclosures of Cash Flow Information:    
Cash paid for: Interest 18,030
Cash paid for: Income taxes
Non-cash investing and financing activities:    
Preferred stock issued in exchange for notes and advances payable 1,090,254
Repayment of convertible note payable and accrued interest by third party 133,488
Accrual of earned preferred stock dividends (534,919) (327,626)
Common stock issued in connection with payment of Series A Convertible Preferred Stock dividends in-kind 301,379 323,484
Warrants and conversion options issued in connection with issuance and extension of notes payable 15,600 49,600
Original issue discount in connection with convertible note payable 6,000
Extinguishment of conversion option in connection with repayment of notes payable $ 1,000