Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (5,823,366) $ (7,586,901)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 19,208 25,937
Bad debt expense (recovery) (915)
Amortization of debt discount to interest expense 49,042 40,691
Stock-based compensation 3,392,522 5,101,319
Stock-based professional fees 292,785 80,417
Settlement expense 200,000
(Gain) loss on debt extinguishment (31,009) 380,171
Interest expense related to put premium on convertible debt 57,423
Derivative expense 381,005
Change in operating assets and liabilities:    
Accounts receivable 45,096 35,777
Inventory (6,928) 1,470
Prepaid expenses and other assets 11,164 771
Accounts payable 161,330 207,693
Accrued expenses 51,097 1,389
Accrued compensation 490,696 37,321
NET CASH USED IN OPERATING ACTIVITIES (909,935) (1,474,860)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash acquired in recapitalization 187,401
NET CASH PROVIDED BY INVESTING ACTIVITIES 187,401
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of stock 630,000 1,267,500
Proceeds from exercise of stock options 19,185 110,000
Proceeds from note payable 25,000
Repayment of note payable (12,500)  
Repayment of convertible note payable (238,080) (260,000)
Proceeds from convertible notes payable 459,250 260,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 882,855 1,377,500
NET (DECREASE) INCREASE IN CASH (27,080) 90,041
CASH, beginning of period 128,567 46,448
CASH, end of period 101,487 136,489
Cash paid for:    
Interest 8,018 6,696
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 161,460 18,333
Common stock issued for accrued compensation 274,000 392,577
Exercise of stock options for accrued compensation 20,575
Common stock issued for debt and accrued interest 12,000 105,833
Common stock issued for accrued settlement 114,915
Increase in debt discount and derivative liability 222,720
Increase in debt discount and paid-n capital for warrants $ 44,530