4 Operating Activites: Net Income $8,565,288 A
Post# of 75392
Posted On: 02/22/2016 6:17:09 PM
4
Operating Activites:
Net Income
$8,565,288
Adjustments to reconcile net loss to net cash used in operating activities:
Non-cash interest expense
111,976
Stock based compensation
206,870
Gain on change in fair value of derivative liablitiy
(8,896,472)
Gain on extinguishment of debt
(622,342)
Changes in operating assets and liabilities:
Accounts Receivable
(239,356)
Inventory
(199,210)
Prepaid expenses
(9,607)
Accounts Payable
131,236
Deferred Revenue
470,048
Accrued interest
(30,433)
NET CASH USED IN OPERTATING ACTIVITIES
(512,002)
Investing Activites:
Acquisition of property and equipment
(40,512)
NET CASH USED IN INVESTING ACTIVITIES
(40,512)
Financing Activities:
Repayment of convertible notes
(165,000)
Proceeds from issuance of notes payable
500,000
Repayment of loan from shareholder
(11,000)
Proceeds from issuance of Common Stock
233,500
NET CASH PROVIDED BY FINANCING ACTIVITIES
557,500
INCREASE IN CASH
4,986
CASH - BEGINNING OF PERIOD
95,726
CASH - END OF PERIOD
$100,712
Supplemental disclosure of non-cash financing and investing activities:
Series C preferred stock issued for conversion of debt
2,495,666
$
Debt and accrued interest converted for Series C preferred stock
1,107,606
$
Conversion of debt to Common Stock
79,220
$
Derivative liability relieved upon conversion of related debt
2,048,519
$
Rocky Mountain High Brands, Inc.
Statements of Cash Flow
Six months ended December 31, 2015
Operating Activites:
Net Income
$8,565,288
Adjustments to reconcile net loss to net cash used in operating activities:
Non-cash interest expense
111,976
Stock based compensation
206,870
Gain on change in fair value of derivative liablitiy
(8,896,472)
Gain on extinguishment of debt
(622,342)
Changes in operating assets and liabilities:
Accounts Receivable
(239,356)
Inventory
(199,210)
Prepaid expenses
(9,607)
Accounts Payable
131,236
Deferred Revenue
470,048
Accrued interest
(30,433)
NET CASH USED IN OPERTATING ACTIVITIES
(512,002)
Investing Activites:
Acquisition of property and equipment
(40,512)
NET CASH USED IN INVESTING ACTIVITIES
(40,512)
Financing Activities:
Repayment of convertible notes
(165,000)
Proceeds from issuance of notes payable
500,000
Repayment of loan from shareholder
(11,000)
Proceeds from issuance of Common Stock
233,500
NET CASH PROVIDED BY FINANCING ACTIVITIES
557,500
INCREASE IN CASH
4,986
CASH - BEGINNING OF PERIOD
95,726
CASH - END OF PERIOD
$100,712
Supplemental disclosure of non-cash financing and investing activities:
Series C preferred stock issued for conversion of debt
2,495,666
$
Debt and accrued interest converted for Series C preferred stock
1,107,606
$
Conversion of debt to Common Stock
79,220
$
Derivative liability relieved upon conversion of related debt
2,048,519
$
Rocky Mountain High Brands, Inc.
Statements of Cash Flow
Six months ended December 31, 2015
(0)
(0)