Page 6 GDSI cash flow analysis fro their latest filing.
NOT A SINGLE EMPLOYEE other than officer Dilutive Delgado
THEY DONT EVEN LIST THEIR $3.00/day lease liability for their “office”
GLOBAL DIGITAL SOLUTIONS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW
(unaudited)
For the nine months ended
September 30,
2019
September 30,
2018
Cash flows from operating activities
Net Loss
$(1,848,568)
$(1,238,271)
Adjustments to reconcile net losss to net cash used in operating activities
Stock- based compenstion
269,924
289,500
Change in fair value of derivative liability
(311,575)
(133,411)
Amortization of debt discount
290,406
71,460
Finance costs
-
22,000
Impairment expense
62,000
-
Loss (Gain) on Settlement
72,336
(17,266)
Interest expense from Derivative liability
536,525
-
Changes in operating assets and liabilities:
Prepaid Expenses
(6,000)
20,000
Accounts payable
(103,415)
110,539
Accrued expenses
(211,353)
471,648
Due to Officer
-
(43,349)
Net cash used in operating activities
(1,249,720)
(447,150)
Cash flows from investing activities
Purchase of Equipment
(26,282)
-
Net cash (used in) investing activities
(26,282)
-
Cash flows from financing activities
Proceeds from notes payable
900,000
454,000
Payments on notes payable
(275,000)
(24,000)
Proceeds from convertible notes payable
696,975
-
Payments of convertible notes payable
(289,586)
(31,500)
Payments to factor
-
(60,000)
Proceeds from sale of common shares
286,138
16,650
Net cash provided by (used in ) financing activities
1,318,527
355,150
Net increase (decrease) in cash and cash equivalents
42,525
(92,000)
Cash and cash equivalents at beginning of period
8,100
93,000
Cash and cash equivalents at end of period
$50,625
$1,000
Supplementary disclosure of cash flow information
Cash paid during the year for:
Interest
$28,812
$120,274
Taxes
$-
$-
Supplementary disclosure of non-cash investing and financing activities
Accrued interest settled with convertible notes payable
$-
$43,633
Debt discount from warrants
$-
$50,378
Discount on convertible notes payable
$51,775
$162,000
Reduction in derivative liabilitry from payments on convertible notes
$459,400
$117,854
Discount from derivative on convertible notes payable
$213,475
Discount from warrants issued with convertible notes payable
$20,000
Shared issued for acquisition
$62,000
The accompanying footnotes are in integral part of these unaudited condensed consolidated financial statements.
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