Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

v3.20.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (943,824) $ (513,580)
Adjustments to reconcile net loss to net cash used in operations activities:    
Warrants issued for services 65,711
Stock issued for services 49,397
Stock issued for interest 26,598
Amortization of debt discount 322,739 382,267
Deferred financing fees and financing cost 45,577
Change in derivative liability (207,524) (190,062)
Loss on extinguishment of debt upon notes conversion 188,397
Amortization of intangible assets 166,667
Change in operating assets and liabilities    
Change in accounts receivable (4,040) (135,967)
Change in inventory 62,221 (30,583)
Change in other current assets 126,053 (520,000)
Change in accounts payable (81,725) 804,181
Change in accrued expenses 58,256 (12,001)
Net cash used in operating activities (368,159) 26,916
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid for purchase of intangible assets (1,000,000)
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the issuance of debt-net 180,000 1,050,000
Borrowings on line of credit (1,103)
Net cash provided by financing activities 178,897 1,050,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (189,262) 76,916
Cash and cash equivalents, beginning of period 197,622 30,142
Cash and cash equivalents, end of period 8,360 107,058
Cash Paid For:    
Interest 337
Income taxes
Summary of Non-Cash Investing and Financing Information:    
Initial derivative liability and debt discount accounted 126,029 845,903
Derivative liability reclassed to loss on extinguishment of debt upon notes conversion 189,257
Stock issued for conversion of debt 347,000 337,000
Stock Issued for Interest 36,478 26,597
True-up adjustment in debt discount and derivative liability $ 37,360