Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Statement of Cash Flows [Abstract]    
Net loss $ (4,899,453) $ (8,210,920)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 19,516 1,804
Amortization of intangibles 18,971 15,810
Stock-based compensation 2,356,547 5,850,373
Loss on settlement of accounts payable 885,773
Gain (loss) on change in fair value of warrant assets (55,000)
Gain (loss) on change in fair value of convertible notes receivable (531,405)
Changes in operating assets and liabilities:    
Accounts receivable 63,554 (640,541)
Inventory (109,244)  
Prepaid expenses (655,346) (14,746)
Other assets 17,561
Accounts payable and accrued liabilities 530,501 (452,579)
Contract liabilities 770,625 95,482
Net cash used in operating activities (1,000,995) (3,941,722)
Cash flows from investing activities:    
Cash acquired in reverse acquisition 5,441,437
Advances to shareholder (199,549)
Purchase of convertible notes receivable - Alliance MMA (215,000)
Purchase of fixed assets (114,807)
Net cash provided by investing activities 4,912,081
Cash flows from financing activities:    
Proceeds from loans payable 293,972
Proceeds from equity financing 515,000
Proceeds from notes payable - related party 120,000
Proceeds from exercise of warrants 38,570 67,548
Proceeds from preferred stock placement 100,000
Net cash provided by financing activities 847,542 287,548
Net (decrease) increase in cash (153,453) 1,257,907
Cash, beginning of period 487,953 76,459
Cash, end of period 334,500 1,334,366
Supplemental disclosures of cash flow information:    
Cash paid for interest
Cash paid for income taxes
Non-cash investing and financing activities:    
Shares issued to current and former employees 2,356,547
Cashless exercise of warrant 347 4
Cashless exercise of options 57
Settlement of accounts payable with issuance of common stock 1,758,190
Shareholder advances for purchase of inventory 475,000  
Issuance of warrant in settlement of vendor liability 66,275
Surrender of common stock in settlement of due from shareholder balance 1,608,833
Stock and warrant dividend 1,705,722
Warrants issued to company 19,000
Conversion of notes payable-related party and interest into Series A Convertible Preferred Stock 1,900,000
Issuance of preferred and common stock in connection with acquisition of Alliance MMA, net of cash 6,424,054
Settlement of disputed contractual claim with issuance of common stock $ 118,002