Flitways Technology Inc (FTWS)

[THall]

Nothing true about that statement. They can get an APP created for a couple hundred bucks. Might want to look at the last Q

Cash Flows from Operating Activities


We have not generated positive cash flows from operating activities. For the three months ended March 31, 2018, net cash used in operating activities was $201,000, compared to $159,000 for the three months ended March 31, 2017.


Cash Flows from Investing Activities


For the three months ended March 31, 2018, we purchased property and equipment for approximately $1,000.


Cash Flows from Financing Activities


We have financed our operations primarily from related party advancements, issuance of notes payable and issuance of convertible notes payable. For the three months ended March 31, 2018, net cash provided by financing activities was $161,000 compared to the three months ended March 31, 2017, which was $181,000.




Liquidity and Capital Resources


As at March 31, 2018 our current liabilities exceed our current assets by approximately $7,546,000, which was comprised of accounts payable and accrued liabilities of approximately $1,045,000, deferred compensation of approximately $166,000, line of credit – related party of approximately $27,000, notes payable of approximately $134,000, convertible notes payable of approximately $987,000 and derivative liabilities of approximately $5,307,000.