Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net loss $ (2,147,617) $ (2,678,088)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Stock-based compensation - amortization of prepaid services 249,963 249,749
Stock-based compensation 5,945 0
Amortization of discount of notes payable 1,314,760 981,462
Amortization of debt issuance costs 60,478 60,812
Amortization of right to use assets 200,398 192,686
Amortization of patent rights 102,300 111,366
Depreciation expense 44,379 122,604
Gain on sale of equipment 0 (5,919)
Gain on forgiveness of debt (299,300) 0
(Gain) Loss on change in fair value of profit share 249,825 (252,390)
Changes in operating assets and liabilities    
Decrease in accounts receivable 3,898 288,826
Decrease in inventory 16,383 52,100
Decrease in prepaid expenses and other assets 1,775 13,862
Decrease in security deposits 2,080 0
(Decrease) Increase in accounts payable and accrued liabilities 897,922 (267,820)
Decrease in operating lease liability (201,434) (194,749)
Net cash provided by (used in) operating activities 501,755 (1,325,499)
Cash flows from investing activities    
Cash received from sale of equipment 0 9,500
Net cash provided by investing activities 0 9,500
Cash flows from financing activities    
Payments of notes payable (34,661) (64,691)
Payments of equipment notes payable (16,199) (22,559)
Proceeds from exercise of warrants 246,808 0
Proceeds from exercise of stock options 101,250 0
Proceeds from the issuance of notes payable 299,380 499,300
Net cash provided by financing activities 596,578 412,050
Net increase (decrease) in cash and cash equivalents 1,098,333 (903,949)
Cash and cash equivalents - beginning of period 591,019 1,499,287
Cash and cash equivalents - end of period 1,689,352 595,338
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest 41,082 228,458
Taxes 4,518 0
SUPPLEMENTAL DISCLOSURE OF NON-CASH TRANSACTIONS    
Stock issued for prepaid services 644,250 200,000
Stock issued for conversion of convertible notes 4,430,000 0
Stock issued for interest payable $ 615,339 $ 0