Annual report pursuant to Section 13 and 15(d)

STATEMENT OF CASH FLOWS

v3.21.1
STATEMENT OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities    
Net loss $ (5,825,622) $ (6,097,286)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 1,710,226 1,810,267
Amortization of discount on notes payable 1,974,080 1,752,639
Amortization of debt issuance costs 122,291 101,852
Amortization of right to use assets 310,706 378,261
Amortization of customer acquisition costs 0 34,467
Amortization of patent rights 213,666 201,200
Depreciation expense 188,675 314,908
(Gain) Loss on change in fair value of profit share (23,537) 374,462
Gain on sale of equipment (35,859) (29,560)
Changes in operating assets and liabilities    
Decrease in accounts receivable 106,792 419,252
Increase in inventory (46,629) (4,082)
(Increase) Decrease in prepaid expenses and other assets (5,730) 34,915
Decrease in accounts payable and accrued liabilities (64,802) (426,638)
Increase (Decrease) in accrued salaries 491,610 (198,782)
Increase in accrued interest 33,164 129,163
Decrease in operating lease liability (388,116) (371,986)
Net cash used in operating activities (1,239,085) (1,576,948)
Cash flows from investing activities    
Cash received from sale of equipment 42,500 30,000
Net cash provided by investing activities 42,500 30,000
Cash flows from financing activities    
Payments of notes payable (165,339) 0
Proceeds from the issuance of notes payable 499,300 0
Payments on secured promissory note 0 (46,682)
Payments of equipment notes payable (45,646) (91,960)
Proceeds from the issuance of convertible promissory notes and related warrants 0 2,600,000
Net cash provided by financing activities 288,315 2,461,358
Net increase (decrease) in cash and cash equivalents (908,268) 914,410
Cash and cash equivalents - beginning of year 1,499,287 584,877
Cash and cash equivalents - end of year 591,019 1,499,287
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid during the period for: Interest 534,960 0
Cash paid during the period for: Income taxes 0 14,000
SUPPLEMENTAL DISCLOSURE OF NON-CASH TRANSACTIONS    
Cumulative effect on accumulated deficit of lease accounting change 0 77,866
Discount on convertible promissory notes payable 0 485,640
Net adjustment for extension of lease 0 145,267
Stock Issued for consulting services 102,000 0
Stock issued for prepaid services 200,000 0
Stock warrants issued for prepaid services 0 243,294
Stock options issued for prepaid services 0 18,723
Capital contribution $ 0 $ (3,412,204)