Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,360,423) $ (2,286,848)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 6,494 8,866
Bad debt expense (recovery) (400)
Amortization of debt discount to interest expense 2,883 31,302
Stock-based compensation 1,467,276 1,730,811
Stock-based professional fees 49,646 18,333
Interest expense related to put premium on convertible debt 30,400
Change in operating assets and liabilities:    
Accounts receivable 37,033 876
Inventory (13,475) (1,410)
Prepaid expenses and other assets 2,867 771
Accounts payable 124,527 85,778
Accrued expenses 9,592 55,389
Accrued compensation 300,154 59,000
NET CASH USED IN OPERATING ACTIVITIES (343,026) (297,532)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of stock options 19,185 10,000
Proceeds from subscription payable 100,000
Proceeds from convertible notes payable 102,000 260,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 221,185 270,000
NET DECREASE IN CASH (121,841) (27,532)
CASH, beginning of period 128,567 46,448
CASH, end of period 6,726 18,916
Cash paid for:    
Interest 234
Income taxes
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Beneficial conversion feature reflected in debt discount 260,000
Common stock issued as prepaid for services 114,460 68,750
Common stock issued for accrued compensation 392,577
Common stock issued for debt and accrued interest $ 105,833