NEXEON MEDSYSTEMS INC

CIK:0001416172|SEC Filings

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss	$ (3,067,224)	$ (3,590,801)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,095,076	924,786
Stock-based compensation	475,043	217,605
Loss on exchange for stock		37,788
Gain on sale of patent	(160,000)
Bad debt		171,946
Gain on bargain purchase		(624,211)
Provision for income taxes		(13,203)
Non-cash interest	102,850	11,428
Change in operating assets and liabilities:
Accounts receivable	111,726	(436,504)
Grants receivable	20,023	(734,790)
Inventory	(291,940)	(153,562)
Other current asset	49,460	103,858
Accounts payable	328,254	495,987
Accrued liabilities	1,122,339	(103,443)
Advance grant payments	(369,221)	(440,739)
Accrued interest payable	8,039	(2,556)
Deferred liabilities	184,679	340
Net cash (used in) operating activities	(390,896)	(4,136,071)
CASH FLOWS FROM INVESTING ACTIVITIES:
Issuance of notes receivable - related party		(59,027)
Cash paid for acquisitions net of cash acquired		(957,182)
Additions to property plant and equipment	(63,083)	(13,920)
Net cash used in investing activities	(63,083)	(1,030,129)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock		1,773,288
Proceeds from debt	358,906	1,839,387
Proceeds from related party		34,438
Proceeds from grant advance	(656,256)	235,349
Repayment of debt		(57,541)
Net cash (used in) financing activities	(297,350)	3,824,921
Effects of exchange rate changes on cash	(7,060)	(18,717)
Net (decrease) in cash and cash equivalents	(758,389)	(1,359,996)
Cash and cash equivalents at beginning of period	883,962	2,124,795
Cash and cash equivalents at end of period	125,573	764,799
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during period for interest	122,803	17,708
Cash paid during period for taxes	3,452
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:
Redemption of stock for patent sale	160,000
Original purchase discount on notes		$ 274,266

Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Current Assets
Cash and cash equivalents	$ 125,573	$ 883,962
Accounts receivable	1,709,915	1,877,743
Grants receivable	819,615	804,152
Inventory	2,420,988	2,206,570
Other current assets	106,614	157,621
Total Current Assets	5,182,705	5,930,048
Property, plant and equipment, net	3,449,467	3,569,832
Investments	112,072	112,072
Intangible assets, net	9,833,647	10,739,492
Total Assets	18,577,891	20,351,444
Current Liabilities
Accounts payable	2,822,693	2,575,399
Accrued liabilities	1,558,501	503,751
Current portion of long-term debt, net of original discount	1,673,667	866,479
Advance grant payments	568,844	935,817
Deferred liabilities	401,478	174,230
Accrued interest	86,088	78,049
Total Current Liabilities	7,111,271	5,133,725
Long-term debt, net of original discount	2,327,666	3,348,730
Total Liabilities	9,438,937	8,482,455
Stockholders' Equity
Common stock - 75,000,000 shares authorized, $.001 par value; 1,965,646 and 1,970,915 issued and outstanding at September 30, 2018 and December 31, 2017, respectively	1,966	1,971
Additional paid-in capital	15,838,654	15,523,606
Equity instruments to be issued	65,839	65,839
Accumulated deficit	(6,810,662)	(3,743,438)
Accumulated other comprehensive income	43,157	21,011
Total Stockholders' Equity	9,138,954	11,868,989
Total Liabilities and Stockholders' Equity	$ 18,577,891	$ 20,351,444