v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
7 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Loss $ (1,270,000) $ (2,724,000)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 30,000 51,000
Fair value of shares issued for services 67,000
Fair value of shares issued for severance agreement 132,000
Impairment of property and equipment 470,000
Write off of lease deposit 236,000
Reverse merger expenses 97,000
Accrual of management fee due to related party 154,000 204,000
Changes in operating assets and liabilities:    
Prepaid expenses and deposits (208,000) (72,000)
Accounts payable and accrued expenses 23,000 97,000
NET CASH USED IN OPERATING ACTIVITIES (1,271,000) (1,442,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (298,000) (316,000)
NET CASH USED IN INVESTING ACTIVITIES: (298,000) (316,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common shares 87,000 249,000
Deposits from potential investors 1,653,000 270,000
Advances from shareholder 49,000
Advances from related party 1,064,000 963,000
Repayment of advances from related party (261,000)
NET CASH PROVIDED BY FINANCING ACTIVITIES 2,804,000 1,270,000
Effect of exchange rate changes in cash 4,000
NET CHANGE IN CASH 1,235,000 (484,000)
Cash at beginning of period 587,000
Cash at end of period 1,235,000 103,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:    
Interest paid
Income tax paid
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Common shares issued for settlement of advances from related party 800,000
Dividend payable on Series A Preferred Stock 700,000
Issuance of common shares previously reflected as deposits $ 2,075,000

Source