General form of registration statement for all companies including face-amount certificate companies

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
May 31, 2016
May 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (2,610,299) $ (1,515,587)
Adjustments to reconcile net loss to net cash used in operating activities:    
Imputed interest 1,078 716
Change in fair value of derivative (61,757) 0
Interest expense - excess of discount over principal 11,330 0
Issuance of stock for services 118,050 0
Note issued as commitment 200,000 0
Impairment of note receivable 0 500,000
Stock-based compensation 327,500 37,500
Amortization of debt discounts 286,317 5,556
Depreciation and amortization expense 1,288 0
Changes in assets and liabilities:    
Deposits 0 (50,000)
Prepaid expenses 25,058 (38,955)
Accounts payable and accrued expenses 285,993 136,327
Accrued compensation 161,243 106,250
Due to related parties (525) 18,455
Accrued interest, related party 64,811 3,337
Accrued interest 38,486 2,630
Net cash used in operating activities (1,151,427) (793,771)
CASH FLOWS FROM INVESTING ACTIVITIES    
Payment of cash for note receivable 0 (500,000)
Payments to acquire equipment (2,674) 0
Payment for construction in progress (106,726) 0
Payments to acquire intangible assets 0 (2,158)
Payments for investment in shell company 0 (295,250)
Net cash used in investing activities (109,400) (797,408)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from sale of common stock 0 1,000,000
Proceeds from related party convertible notes payable 767,500 0
Proceeds from related party notes payable 72,750 600,000
Proceeds from issuance of convertible note 300,000 200,000
Net cash provided by financing activities 1,140,250 1,800,000
Net increase in cash and cash equivalents (120,577) 208,821
Cash and cash equivalents at beginning of period 208,821 0
Cash and cash equivalents at end of period 88,244 208,821
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest paid 0 0
Income taxes paid 0 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Stock issued to founder for intellectual property 0 500
Related party notes payable reclassified as related party convertible notes payable 1,367,500 0
Effect of reverse merger 0 16,352
Non-Related Party Debt [Member]    
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Discount on notes from beneficial conversion feature and warrants 502,296 200,000
Related Party Debt [Member]    
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Discount on notes from beneficial conversion feature and warrants $ 1,321,176 $ 0