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 $ (6,753,836) $ (1,164,630)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 210,042 290,181
Amortization of discount on convertible debt 528,929
Change in fair value of derivative and other accrued liabilities (91,603) (4,997,721)
Dividend and interest income (45,566)
Provision for bad debt 91,507 80,845
Gain on settlement of debt (310,000)
Loss on settlement reserve 127,941
Loss on settlement of liabilities for equity 2,136,860
Gain on settlement of liabilities to JMJ for equity (5,800,175)
Interest expense - related party share transfer 785,200
Provision for slow moving and obsolete inventory 189,243
Loss on disposal of property and equipment 72,985 12,698
Gain on settlement of accounts payable, net (253,607) (920,352)
Common stock 380,399 3,512,558
Options 210,763 58,664
Warrants 114,069
Changes in operating assets and liabilities:    
Accounts receivable and other receivables (236,227) (60,049)
Inventory (595,291) (482,496)
Prepaid expenses and other current assets (167,512) (824,925)
Other assets 4,121 2,636
Accounts payable and accrued expenses 35,354 (3,970,155)
Deferred revenue (115,184) (14,140)
Total Adjustments (620,576) (9,419,432)
Net Cash Used in Operating Activities (7,374,412) (10,584,062)
Cash Flows From Investing Activities:    
Purchases of property and equipment (177,418) (37,711)
Net Cash Used In Investing Activities (177,418) (37,711)
Cash Flows From Financing Activities:    
Proceeds from sale of common stock in public offering [1] 16,243,055
Payment of public offering costs (1,190,082)
Proceeds from issuance of notes payable to non-related party 55,000
Proceeds from exercise of warrants 17,143,056
Proceeds from advance from a related party 250,000
Repayment of notes and convertible notes payable (760,000)
Net Cash Provided by Financing Activities 31,741,029
Net (Decrease) Increase In Cash (7,551,830) 21,119,256
Cash - Beginning of Period 15,538,849 185,151
Cash - End of Period 7,987,019 21,304,407
Supplemental Disclosures of Cash Flow Information:    
Interest expense 36,132
Non-cash investing and financing activities:    
Common stock issued in partial satisfaction of debt and other liabilities 4,353,988
Reduction of additional paid-in capital for public offering issuance costs that were previously paid (172,158)
Common stock issued upon conversion of Series A convertible preferred stock 11,000
Common stock issued in satisfaction of Series B convertible preferred stock 825,000
Common stock issued upon conversion of Series C convertible preferred stock 255
Common stock issued upon conversion of Series D convertible preferred stock 5 7
Restricted stock issued in satisfaction of accrued issuable equity 252,358
Warrants issued in satisfaction of accrued issuable equity 409,042
Return and retirement of common stock (8) 2,942
Warrants reclassified from derivative liabilities 36,445
Accrual of contractual dividends on Series C Convertible Preferred Stock 607,800
Issuance of Series C Convertible Preferred Stock in satisfaction of contractual dividends 2,500,600
Issuance of Series C Convertible Preferred Stock in satisfaction
Transfer of inventory to property and equipment (344,217) (35,908)
Change in fair value of marketable securities 108,169
Series D convertible preferred stock issued in satisfaction of liabilities 12,005,000
Issuance of common stock in exchange for warrants
Return and retirement of common stock previously held as collateral $ 67,058
[1] Includes gross proceeds of $18,504,320, less issuance costs of $2,261,265 deducted directly from the offering proceeds.