Resonate Blends Inc (KOAN)

[stock king 1]

yes over a million dollars ,,,they go through money like water in a strainer

Net Loss



We had a net loss of $1,229,923 for the three months ended March 31, 2016, as compared with net loss of $40,472 for the three months ended March 31, 2015.



Liquidity and Capital Resources



As of March 31, 2016, we had total current assets of $41,431. Our total current liabilities as of March 31, 2016 were $1,419,565. We had a working capital deficit of $1,378,134 as of March 31, 2016.



Cash Flows from Operating Activities



Operating activities used $103,357 in cash the three months ended March 31, 2016, compared with $47,059 for the three months ended March 31, 2015. Our net loss of $1,229,923 was the main component of our negative operating cash flow, offset mainly by the loss on derivative liabilities of $918,770 and amortization of debt discount of $127,348.