Followers | 432 |
Posts | 51694 |
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Alias Born | 05/03/2000 |
Tuesday, May 24, 2016 8:19:16 AM
Our total assets were $2,308,823 as of March 31, 2016, which primarily consisted of fixed assets of 703,337, intangible assets of 1,565,570, and cash and cash equivalents of $30,625.
We had negative working capital of $7,098,307 as of March 31, 2016.
Our total liabilities were $8,723,806 which was mainly comprised of derivative liabilities of $3,618,509, capital lease of 223,135, convertible debt of $1,392,973 and contingent consideration liabilities of $713,581.
Our total stockholder’s deficit as of March 31, 2016 was $6,414,984 and we had a retained deficit of $16,240,716 through the same period.
We used $413,264 in net cash for operating activities for the three months ended March 31, 2016, which included a net loss of $4,342,042.
We had $427,070 net cash provided by financing activities in the three month period ended March 31, 2016 due primarily to borrowings on convertible notes.
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