Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,745,284) $ (4,130,612)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 33,126 22,417
Amortization expense 21,500 21,500
Impairment charge (1,650)
Derivative liability movements (862,413) (2,271,913)
Amortization of debt discount 1,012,537 1,622,457
Loss on conversion of debt to equity 554,558 3,458,238
Profit on disposal of kiosks (1,652)
Convertible notes issued for services 4,423 100,724
Non-cash operating lease liability movements 68
Shares issued for services 162,254 34,739
Stock based compensation 49,200
Changes in Assets and Liabilities    
Accounts receivable 15,445 28,572
Inventory 1,912 7,794
Recoverable IVA taxes and credits (19,789) (34,667)
Other current assets (37,203) (75,965)
Other assets (2,014) (3,492)
Accounts payable and accrued expenses 180,006 44,435
IVA and other taxes payable 20,922 1,392
Advances from customers 21,120 10,169
Interest accruals 190,785 167,628
CASH USED IN OPERATING ACTIVITIES (451,349) (947,384)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (5,455) (1,753)
Proceeds on disposal of kiosks 4,183
NET CASH USED IN INVESTING ACTIVITIES (1,272) (1,753)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from loans payable 125,000 267,491
Repayment of convertible notes (93,000)
Proceeds from short term notes and convertible notes 267,000 846,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 392,000 1,020,491
Effect of exchange rate changes on cash and cash equivalents 1,054 9,614
NET (DECREASE) INCREASE IN CASH (59,566) 80,969
CASH AT BEGINNING OF PERIOD 71,294 19,028
CASH AT END OF PERIOD 11,727 99,997
CASH PAID FOR INTEREST AND TAXES:    
Cash paid for income taxes
Cash paid for interest $ 21,417