Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.3.1.900
Consolidated Statement of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Operating Activities:    
Net loss $ (420,543) $ (1,646,269)
Adjustments to reconcile net loss to net cash used in operating activities:    
Common shares issued for services 227,740
Impairment of goodwill and intangible assets 240,000
Stock based compensation $ 22,910 $ 227,740
Interest expense - note payable 5,305
Interest expense - amortization of convertible note discount 61,775 $ 18,834
Changes in fair value of convertible note 20,856
Changes in assets and liabilities:    
Accounts payable and accrued liabilities 143,724 $ 14,123
Net cash used in operating activities $ (165,973) (1,145,572)
Investing Activities:    
Purchase of interest in Gazania (150,000)
Net cash used in investing activities (150,000)
Financing Activities:    
Proceeds from issuance of convertible note $ 49,000 100,000
Advance subscriptions $ (40,400)
Payments from retirement of convertible note $ (28,000)
Proceeds from issuance of common stock $ 1,251,400
Proceed from issuance of note $ 76,167
Proceed from issuance of note to related party 6,000
Proceed from deferred license income 60,491
Net cash provided by financing activities 163,658 $ 1,311,000
Net (decrease) increase in cash (2,315) 15,428
Cash, beginning of Year 17,878 2,450
Cash, end of Year $ 15,563 $ 17,878
Supplemental disclosures of cash flow information Cash paid for:    
Interest
Income taxes