Cash Flow

v3.21.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities:    
Net loss $ (17,846,467) $ (9,648,500)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 679,911 417,061
Change in fair value of derivative and other accrued liabilities (173,132) (65,104)
Dividend and interest income 104,848
Provision for bad debt 270,365 102,940
Gain on settlement of debt (310,000)
Provision for slow moving and obsolete inventory (392,191) 437,068
Gain on settlement of accounts payable, net (22,266) (273,667)
Loss on disposal of fixed assets 278,698 65,488
Loss on impairment of intangible assets 83,135
Non-cash compensation:    
Common stock 233,382 547,782
Options 714,888 180,757
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (335,964) (141,541)
Inventory (1,246,837) (2,022,653)
Prepaid expenses and other current assets (580,803) 168,487
Other assets (225,995) (2,545)
Accounts payable and accrued expenses 842,552 (470,354)
Lease liabilities (184,057) (135,267)
Deferred revenue (82,038) 197,252
Total Adjustments (223,487) (1,116,313)
Net Cash Used in Operating Activities (18,069,954) (10,764,813)
Cash Flows From Investing Activities:    
Purchase consideration for BlueLA Carsharing, LLC acquisition (1)
Cash acquired in the purchase of BlueLA Carsharing, LLC 3,379
Cash acquired in the purchase of U-Go Stations, Inc. 30,266
Proceeds from sale of marketable securities 2,773,816
Purchases of property and equipment (2,547,220) (552,820)
Net Cash Provided By (Used In) Investing Activities 260,240 (552,820)
Cash Flows From Financing Activities:    
Proceeds from sale of common stock in public offering [1] 19,175,546
Payment of financing liability in connection with internal use software (72,190) (52,379)
Proceeds from exercise of warrants 16,264,687
Proceeds from issuance of notes payable 855,666
Repayment of notes payable (165,000)
Net Cash Provided By (Used in) Financing Activities 36,058,709 (52,379)
Net Increase (Decrease) In Cash 18,248,995 (11,370,012)
Cash and Restricted Cash - Beginning of Year 4,168,837 15,538,849
Cash and Restricted Cash - End of Year 22,417,832 4,168,837
Cash and restricted cash consisted of the following:    
Cash 22,341,433 4,168,837
Restricted cash 76,399
Cash and restricted cash 22,417,832 4,168,837
Cash paid during the years for:    
Interest expense
Non-cash investing and financing activities:    
Reduction of additional paid-in capital for public offering issuance costs that were previously paid (39,167)
Common stock issued upon conversion of Series D convertible preferred stock 5 5
Common stock issued in satisfaction of accrued issuable equity 200,920 381,131
Options issued in satisfaction of accrued issuable equity 16,004
Net assets (excluding cash) acquired in the acquisition of BlueLA Carsharing, LLC 84,482
Right of use assets obtained in exchange for lease liabilities 597,812
Accrued interest converted to notes payable 5,030
Common stock issued as purchase consideration for the acquisition of U-Go Stations,Inc. 1,218,766
Net assets (excluding cash) acquired in the acquisition of U-Go Stations, Inc. 1,215,767
Return and retirement of common stock (8)
Transfer of inventory to property and equipment (1,980,188) (663,624)
Change in fair value of marketable securities $ 183,173
[1] Includes gross proceeds of $19,999,984, less issuance costs of $824,438 deducted directly from the offering proceeds.

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