Cash Flow

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows From Operating Activities:    
Net loss $ (5,990,613) $ (4,130,847)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 195,622 115,426
Dividend and interest income 77,309
Change in fair value of derivative and other accrued liabilities (16,039) (90,236)
Provision for bad debt 33,894 72,180
Gain on settlement of debt (310,000)
(Benefit)/provision for slow moving and obsolete inventory 7,646 197,240
Gain on settlement of accounts payable, net 19,086 (160,423)
Non-cash compensation:    
Common stock (56,993) 267,997
Options 388,388 126,033
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (195,130) (156,659)
Inventory (1,393,376) (671,011)
Prepaid expenses and other current assets 177,427 163,775
Other assets 4,121
Accounts payable and accrued expenses 612,840 (536,034)
Lease liabilities (93,225) 2,376
Deferred revenue (287,800) (106,244)
Total Adjustments (530,351) (1,081,459)
Net Cash Used In Operating Activities (6,520,964) (5,212,306)
Cash Flows From Investing Activities:    
Proceeds from sale of marketable securities 2,600,516
Purchases of property and equipment (445,479) (203,357)
Net Cash Provided By (Used In) Investing Activities 2,155,037 (203,357)
Cash Flows From Financing Activities:    
Proceeds from issuance of notes payable 855,666
Proceeds from sale of common stock in public offering [1] [1] 3,195,968
Payment of financing liability in connection with internal use software (32,821)
Net Cash Provided By Financing Activities 4,018,813
Net Decrease In Cash (347,114) (5,415,663)
Cash - Beginning of Period 4,168,837 15,538,849
Cash - End of Period 3,821,723 10,123,186
Supplemental Disclosures of Cash Flow Information:    
Interest expense
Non-cash investing and financing activities:    
Common stock issued upon conversion of Series D convertible preferred stock 5 5
Return and retirement of common stock (8)
Reduction of additional paid-in capital for public offering issuance costs for public offering issuance costs that were previously paid (39,167)
Restricted stock issued in satisfaction of accrued issuable equity 240,043
Change in fair value of marketable securities (20,079) 141,007
Subscription receivable, net of issuance costs of $18,704 600,808
Transfer of inventory to property and equipment $ (1,011,637) $ (59,548)
[1] Includes gross proceeds of $3,379,106, less issuance costs of $183,138

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