DS HEALTHCARE GROUP, INC.

CIK:0001463959|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Net Revenue	$ 2,230,214	$ 4,844,917	$ 4,324,607	$ 7,169,952
Cost of Goods Sold	915,244	3,332,052	1,978,481	4,766,118
Gross Profit	1,314,970	1,512,865	2,346,126	2,403,834
Selling and marketing
Commissions and consulting	184,507	387,648	399,414	576,291
Marketing and promotion	362,629	448,247	778,243	927,572
Other selling and marketing expenses	478,969	423,278	865,912	913,369
Total selling and marketing	1,026,105	1,259,173	2,043,569	2,417,232
General and administrative
Salary and personnel costs	855,162	612,944	1,468,483	1,254,758
Professional fees and consulting costs	1,291,561	982,913	1,644,678	2,191,589
Other general and administrative expenses	725,199	284,198	974,213	538,451
Total general and administrative	2,871,922	1,880,055	4,087,374	3,984,798
Total operating costs and expenses	3,898,027	3,139,228	6,130,943	6,402,030
Operating Income (Loss)	(2,583,057)	(1,626,363)	(3,784,817)	(3,998,196)
Other Income (Expense)
Interest expense	(45,726)	(62,530)	(95,784)	(72,761)
Other	291,224	67,981	393,341	(63,514)
Total other income (expense)	245,498	5,451	297,557	(136,275)
Loss Before Income Taxes	(2,337,559)	(1,620,913)	(3,487,260)	(4,134,470)
Income Tax Expense
Net Loss	$ (2,337,559)	$ (1,620,913)	$ (3,487,260)	$ (4,134,470)
Basic and Diluted Earnings per Share:
Weighted average shares outstanding	23,537,330	22,556,765	23,537,330	22,556,765
Loss per share	$ (0.10)	$ (0.07)	$ (0.15)	$ (0.18)
Other Comprehensive Income:
Foreign currency translation adjustment	$ 110,566	$ 54,943	$ 138,202	$ 278,115
Comprehensive (loss) income	$ (2,226,993)	$ (1,565,970)	$ (3,349,058)	$ (3,856,355)

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash Flows from Operating Activities:
Net Loss	$ (3,487,260)	$ (4,134,470)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	58,314	197,572
Stock issued for services		24,000
Changes in operating assets and liabilities:
Accounts receivable	1,014,082	(54,710)
Inventories	116,484	801,253
Prepaid expenses and other current assets	(77,855)	115,966
Accounts payable	842,253	470,502
Accrued expenses	567,780	(342,967)
Other current liabilities	13,554	46,861
Net cash used in operating activities	(952,648)	(2,875,993)
Cash Flows from Investing Activities:
Purchases of property & equipment	(7,155)
Other assets	(18,245)	(64,462)
Net cash used in investing activities	(25,400)	(64,462)
Cash Flows from Financing Activities:
Proceeds of loans and notes	720,582	30,006
Repayment of loans and notes	(152,183)	(68,807)
Proceeds from sale of stock subscription	250,000
Net cash provided (used) by financing activities	818,399	(38,801)
Effect of exchange rate changes on cash	110,388	139,795
Decrease in Cash	(49,261)	(2,839,461)
Cash, Beginning of Period	322,319	4,517,604
Cash, End of Period	273,058	1,678,143
Supplemental Information:
Cash paid for interest

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Current Assets
Cash	$ 273,058	$ 322,319
Accounts receivable, net	1,502,332	2,516,414
Inventories, net	2,134,521	2,251,005
Prepaid expenses and other current assets	192,467	114,612
Total Current Assets	4,102,378	5,204,350
Furniture and Equipment, net	92,453	106,531
Intangible Assets, net	352,431	340,295
Other Assets	85,353	67,108
TOTAL ASSETS	4,632,615	5,718,284
Current Liabilities
Accounts payable	3,255,253	2,413,000
Accrued expenses	1,803,694	1,235,914
Note payable	37,896	75,932
Other current liabilities	725,786	712,232
Total Current Liabilities	5,822,629	4,437,078
Long Term Debt, net of current portion	654,021	47,587
TOTAL LIABILITIES	6,476,650	4,484,665
COMMITMENTS AND CONTINGENCIES
Shareholders' Equity
Preferred stock, $0.001 par value, 30 million shares authorized: 0 shares issued and outstanding at June 30, 2017 and December 31, 2016.
Common stock, $0.001 par value, 300 million shares authorized: 26,037,330 and 23,537,330 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively	26,038	23,538
Additional paid-in-capital	29,308,054	29,060,555
Accumulated deficit	(31,405,369)	(27,918,109)
Accumulated comprehensive income	227,242	67,635
Total Shareholders' Equity	(1,844,035)	1,233,619
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 4,632,615	$ 5,718,284