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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flow from Operating Activities    
Net (loss) income $ (3,983,272) $ 1,428,381
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 120,004 157,765
Amortization of financing costs 266,944 0
Stock-based compensation 2,666,576 0
Change in fair value of put option contract 732,600 0
Changes in assets and liabilities:    
Accounts receivable (1,402,277) (97,251)
Inventory 39,974 629
Prepaid expenses and other current assets (1,011,586) (59,508)
Accounts payable 55,194 331,745
Accrued expenses and other current liabilities 780,564 35,645
Due from related party (472,351) (710,805)
Net cash (used in) provided by operating activities (2,207,630) 1,086,601
Cash Flows from Investing Activities    
Purchases of property and equipment (121,186) (47,792)
Acquisition of Edison Nation Holdings, LLC and Subsidiaries, net of cash received (881,318)
Purchase of loan held for investment (500,000) 0
Net cash used in investing activities (1,502,504) (47,792)
Cash Flows from Financing Activities    
Borrowings under notes payable 718,559 0
Repayments under notes payable – related parties (645,000) 0
Repayments under notes payable (118,779) 0
Net proceeds from sale of common stock 5,358,570 0
Fees paid for financing costs (99,444) 0
Dividends paid 0 (2,813,607)
Net cash provided by (used in) financing activities 5,213,906 (2,813,607)
Net increase in cash and cash equivalents 1,503,771 (1,774,798)
Cash and cash equivalents - beginning of period 557,268 2,534,753
Cash and cash equivalents - end of period 2,061,039 759,955
Supplemental Disclosures of Cash Flow Information    
Cash paid during the period for: Interest 93,044 0
Cash paid during the period for: Income taxes 0 52,386
Shares issued to note holders 167,500 0
Shares issued for the acquisition of Edison Nation Holdings, LLC 3,760,317 0
Shares reserved in exchange for the cancellation of certain non-voting membership interests related to acquisition of Edison Nation Holdings, LLC 6,682,500 0
Borrowings under note payable for the purchase of property and equipment 73,559 0
Issuance of 4%, 5 year senior convertible notes for the acquisition of Edison Nation Holdings, LLC $ 1,428,161 $ 0

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