Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

v3.7.0.1
Consolidated Statements Of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash Flows From Operating Activities:    
Net loss $ (7,390,000) $ (8,944,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on discontinued operations (4,000) (2,344,000)
Depreciation and amortization 166,000 98,000
Fair value of vesting warrants and options 199,000
Common stock issued for employee compensation 413,000 796,000
Common stock issued for professional fees 1,951,000 1,265,000
Fair value of options granted for acquisition option 472,000
Vesting of shares of common stock issued for services 273,000 61,000
Unrealized loss on trading securities (57,000) (1,181,000)
Loss on sale of trading securities (95,000) (1,460,000)
Changes in operating assets and liabilities:    
Increase in accounts receivables 36,000 3,000
Increase in other receivables 200,000
Decrease in inventory (1,000) (2,000)
Decrease in prepaid expenses (6,000) (5,000)
Increase in other assets 7,000
Increase in accounts payable and accrued liabilities 71,000 32,000
Decrease in related party accounts payable (7,000) (262,000)
Net Cash Used in Operating Activities from Continuing Operations (3,925,000) (1,972,000)
Net Cash Used in Operating Activities from Discontinued Operations (4,000) (864,000)
Net Cash Used in Operating Activities (3,929,000) (2,836,000)
Cash Flows From Investing Activities:    
Purchase of licensing rights 10,000 80,000
Purchases of trading securities 510,000
Proceeds from sale of trading securities 783,000 3,061,000
Purchase of property and equipment 49,000 215,000
Purchase of intangible assets 20,000
Net Cash Provided by Investing Activities 214,000 2,746,000
Cash Flows From Financing Activities:    
Proceeds from sale of common stock 15,000
Net Cash Provided by Financing Activities 15,000
Net decrease in Cash (3,700,000) (90,000)
Cash and cash equivalents at beginning of period 6,904,000 6,994,000
Cash and cash equivalents at end of period 3,204,000 6,904,000
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:    
Contributed capital from sale of trading securities 160,000
Common stock issued for acquisition of Franklin Networks, Inc. 1,700,000
Cancellation of common stock due to rescission of Franklin Networks acquisition $ (500,000)