Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.2
Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (8,210,920) $ (238,279)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 1,804 0
Stock-based compensation 5,850,373 0
Amortization of acquired intangibles 15,810 0
Gain on change in fair value of warrant assets (55,000) 0
Gain on change in fair value of convertible notes receivable (531,405) 0
Changes in operating assets and liabilities:    
Accounts receivable (640,541) (153,270)
Prepaid expenses and other assets (14,746) 0
Accounts payable and accrued liabilities (138,065) 760,828
Contract liabilities 95,482 265,852
Net cash (used in) provided by operating activities of continuing operations (3,627,208) 635,131
Net cash (used in) operating activities of discontinued operations (314,514) 0
Net cash (used in) provided by operating activities (3,941,722) 635,131
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash acquired in reverse acquisition 5,441,437 0
Advances to shareholder (199,549) (767,670)
Advances on convertible notes receivable - Alliance MMA (215,000) (554,375)
Purchases of fixed assets (114,807) 0
Net cash provided by (used in) investing activities 4,912,081 (1,322,045)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from notes payable - related party 120,000 855,600
Proceeds from preferred stock placement 100,000 0
Proceeds from exercise of warrants 67,548 0
Net cash provided by financing activities 287,548 855,600
NET INCREASE IN CASH 1,257,907 168,686
CASH - BEGINNING OF PERIOD 76,459 15,159
CASH - END OF PERIOD 1,334,366 183,845
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest 0 0
Cash paid for taxes 0 0
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Settlement of disputed contractual claim with issuance of common stock 118,002 0
Issuance of warrant in settlement of vendor liability - discontinued operations 66,275 0
Cashless exercise of warrant 4 0
Surrender of common shares in settlement of due from shareholder balance 1,608,833 0
Stock and warrant dividend 1,705,722 0
Warrants issued to company 19,000 0
Conversion of notes payable-related party and interest into Series A Convertible Preferred Shares 1,900,000 0
Issuance of preferred and common stock in connection with acquisition of Alliance MMA, net of cash $ 6,423,869 $ 0