Cash Flow

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows From Operating Activities:    
Net loss $ (9,904,962) $ (6,753,836)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 436,546 210,042
Dividend and interest income (45,566)
Change in fair value of derivative and other accrued liabilities (68,271) (91,603)
Provision for bad debt 98,417 91,507
Loss on disposal of fixed assets 98,478 72,985
Accrued interest converted to notes payable 2,887
Gain on settlement of debt (310,000)
(Benefit) provision for slow moving and obsolete inventory (275,520) 189,243
Gain on settlement of accounts payable, net (22,578) (253,607)
Non-cash compensation:    
Common stock 182,004 380,399
Options 298,355 210,763
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (57,380) (236,227)
Inventory (1,713,432) (595,291)
Prepaid expenses and other current assets 124,533 (167,512)
Other assets (53,849) 4,121
Accounts payable and accrued expenses 1,041,742 84,794
Lease liabilities (141,463) (49,440)
Deferred revenue (202,518) (115,184)
Total Adjustments (252,049) (620,576)
Net Cash Used In Operating Activities (10,157,011) (7,374,412)
Cash Flows From Investing Activities:    
Purchase consideration for BlueLA Carsharing, LLC acquisition (1)
Cash acquired in the purchase of BlueLA Carsharing, LLC 3,379
Proceeds from sale of marketable securities 2,773,816
Purchases of property and equipment (680,673) (177,418)
Net Cash Provided By (Used In) Investing Activities 2,096,521 (177,418)
Cash Flows From Financing Activities:    
Proceeds from issuance of notes payable 855,666
Proceeds from warrant exercise 144,313
Proceeds from sale of common stock in public offering [1] 17,835,886
Payment of financing liability in connection with internal use software (52,958)
Net Cash Provided By Financing Activities 18,782,907
Net Increase (Decrease) In Cash 10,722,417 (7,551,830)
Cash and Restricted Cash - Beginning of Period 4,168,837 15,538,849
Cash and Restricted Cash - End of Period 14,891,254 7,987,019
Cash and restricted cash consisted of the following:    
Cash 14,863,434 7,987,019
Restricted cash 27,820
Cash and restricted cash 14,891,254 7,987,019
Cash paid during the periods for:    
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 that were previously paid (39,167)
Restricted stock issued in satisfaction of accrued issuable equity 252,358
Options issued in satisfaction of accrued issuable equity 16,004
Change in fair value of marketable securities 108,169
Subscription receivable, net of issuance costs of $13,093 419,494
Right of use assets obtained in exchange for lease liabilities 597,812
Net assets (excluding cash) acquired in the acquisition of BlueLA Carsharing, LLC 84,481
Transfer of inventory to property and equipment $ (1,323,915) $ (344,217)
[1] Includes gross proceeds of $18,520,736, less issuance costs of $684,850.

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