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 ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net loss $ (417,934) $ (1,773,871)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Stock-based compensation - amortization of prepaid services 26,032 114,640
Share-based compensation expense 5,878 0
Amortization of discount of notes payable 528,558 490,988
Amortization of debt issuance costs 30,072 30,406
Amortization of right to use assets 99,567 94,710
Amortization of patent rights 51,150 50,300
Depreciation expense 23,804 66,589
Gain on forgiveness of debt (299,300) 0
Loss on change in fair value of profit share 121,054 123,650
Changes in operating assets and liabilities    
Decrease in accounts receivable 268,302 723,314
Decrease in inventory 107,693 48,686
Increase in prepaid expenses and other assets 2,937 8,764
Increase (Decrease) in accounts payable and accrued liabilities 440,468 (1,093,709)
Decrease in operating lease liability (100,084) (95,222)
Net cash provided by (used in) operating activities 888,197 (1,210,755)
Cash flows from financing activities    
Payments of notes payable (34,661) (16,018)
Payments of equipment notes payable (8,584) (11,214)
Proceeds from exercise of warrants 246,808 0
Proceeds from the issuance of notes payable 299,380 200,000
Net cash provided by financing activities 502,943 172,768
Net increase (decrease) in cash and cash equivalents 1,391,140 (1,037,987)
Cash and cash equivalents - beginning of period 591,019 1,499,287
Cash and cash equivalents - end of period $ 1,982,159 $ 461,300
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid during the period for:
Interest $ 41,082 $ 228,458
Taxes 3,240 0
SUPPLEMENTAL DISCLOSURE OF NON-CASH TRANSACTIONS    
Stock issued for conversion of convertible notes 1,850,000 0
Stock issued for prepaid services 644,250 200,000
Stock issued for interest payable $ 247,200 $ 0