Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (17,120,306) $ (7,315,842)
Adjustments to reconcile net loss from operations to cash used by operations:    
Depreciation 269,028 190,026
Stock based compensation 654,525 341,210
Write down of inventory 78,917
Effects of changes in operating assets and liabilities:    
Accounts receivable 358,700 (476,100)
Inventory (7,001,453) (1,863,213)
Prepaid expenses and deposits (511,902) 179,303
Accounts payable 3,612,211 (3,343)
Accounts payable, related parties (375,587)
Net cash used by operations (19,739,197) (9,244,629)
Cash flows from investing activities:    
Capital expenditures (70,576) (90,665)
Proceeds from lease receivables 124,983
Net cash provided by (used in) investing activities 54,407 (90,665)
Cash flows from financing activities:    
Payments on long-term debt (62,042)
Conversion of note payable (2,722,500)
Shareholder advances, net of repayments 1,004,201 1,811,296
Issuance of common and preferred stock 23,060,074
Exercise of warrants and options 633,863 6,231,497
Net cash provided by financing activities 24,636,096 5,320,293
Change in cash and cash equivalents 4,951,306 (4,015,001)
Cash at the beginning of the period 469,570 7,677,163
Cash at the end of the period $ 5,420,876 $ 3,662,162