Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

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Consolidated Statements Of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash Flows From Operating Activities:    
Net income (loss) for the period $ (8,944,421) $ 2,190,658
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Loss on discontinued operations (2,344,524)
Depreciation and amortization $ 97,967 $ 72,048
Non-cash interest on notes payable, related parties 587,294
Common stock issued for employee compensation $ 796,168 $ 987,500
Common stock issued for professional fees 1,265,133
Vesting of shares of common stock issued for services 61,250
Unrealized (gain) loss on trading securities (1,181,085) $ 2,007,374
(Gain) loss on sale of marketable securities $ (1,460,576) 5,989,218
Deferred income tax expense $ 1,040,000
Increase in accounts receivables $ 3,430
Decrease in inventory (1,542) $ (2,001)
Decrease in prepaid expenses (5,286) $ 46,518
Increase in capitalized licensing rights 80,000
Increase in other assets 7,299
Increase in accounts payable and accrued liabilities 32,321 $ 33,172
Decrease in related party accounts payable (262,494) 270,000
Net Cash Used for Operating Activities from Continuing Operations (2,051,792) $ (2,860,437)
Net Cash Used for Operating Activities from Discontinued Operations (864,222)
Net Cash Used in Operating Activities $ (2,916,014) $ (2,860,437)
Cash Flows From Investing Activities:    
Purchases of trading securities 1,402,035
Purchases of available-for-sale securities 590,000
Prepayment on purchase of available-for-sale securities (43,750)
Proceeds from sale of trading securities $ 3,060,675 $ 8,579,373
Purchase of property and equipment 214,752
Purchase of intangible assets 20,202 $ 5,000
Net Cash Provided by Investing Activities $ 2,825,721 6,626,088
Cash Flows From Financing Activities:    
Proceeds from sale of common stock 1,600,000
Net Cash Provided by Financing Activities 1,600,000
Net Cash Provided by Continuing and Discontinued Operations $ (90,293) 5,365,651
Cash and cash equivalents at beginning of period 6,994,180 1,628,529
Cash and cash equivalents at end of period $ 6,903,887 $ 6,994,180
Supplemental Disclosure of Interest and Income Taxes Paid:    
Interest paid during the period
Income taxes paid during the period
Supplemental Disclosure of Non-cash Investing and Financing Activities:    
Preferred stock issued tosettle related party debt and accrued interest $ 10,763,611
Forgiveness of accrued interest to settle related party debt and accrued interest 268,686
Transfer of available-for-sale securities to trading securities 4,775,099
Unrealized gain on available-for-sale securities $ 1,285,009
Common stock issued for acquisition of Franklin Networks, Inc. $ 1,700,000