|6 Months Ended|
Jun. 30, 2018
|Notes to Financial Statements|
|NOTE 11 - EQUITY||
During the six months ended June 30, 2018, senior secured convertible promissory notes and accrued interest in the amount of $29,926,761 were converted into 7,303,244 shares of common stock.
During the six months ended June 30, 2018, the Company sold 1,314,147 shares of common stock for the net amount of $3,650,000 pursuant to an equity financing facility with an accredited investor.
During the six months ended June 30, 2018, the Company cancelled 24,510 shares of common stock valued at $117,831, issued 44,282 shares of common stock for services performed in the amount of $123,727 and issued 173,394 shares of common stock for compensation in the amount of $552,992.
During the six months ended June 30, 2018, the Company issued 224,925 shares of common stock for cashless and cash exercises of warrants. The cash received from the cash exercise of warrants was $76,000.
During the six months ended June 30, 2018, the Company purchased an asset worth $300,000. $100,000 was paid in cash during March 2018, the remaining $200,000 was paid by issuing 53,332 shares of the Company’s common stock.
During the six months ended June 30, 2018, as part of the stock split in March 2018, the Company issued 46,687 shares of common stock to round up fractional shares to all shareholders of the Company.
During the six months ended June 30, 2018, as part of the acquisition of Tech Center Drive in September 2017, the Company issued shares held in escrow which were to be paid six months after the acquisition date subject to any amounts to be withheld related to working capital type adjustments. As a result of the working capital adjustments, in March 2018, approximately $351,000 on the six-month anniversary date, the Company withheld and cancelled 101,083 shares.
The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.
Reference 1: http://www.xbrl.org/2003/role/presentationRef