Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,217,114) $ (2,147,985)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 19,028 17,135
Amortization of debt discount 9,459
Stock based compensation 359,062 262,687
Bad debt expense on note receivable and accrued interest 89,933
Change in fair value of derivative liability (17,385)
Changes in assets and liabilities:    
Accounts receivable 170,225 83,201
Inventories 55,579 (58,637)
Deposits and other assets (118,168)
Prepaid expenses 1,315 (78,376)
Accrued payroll and payroll related expenses 9,072 15,982
Accounts payable and accrued expenses (452,689) 44,902
Accrued separation costs (4,500)
Net cash used in operating activities (2,067,948) (1,889,326)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Increase in intangible assets (14,354) (20,328)
Net cash used in investing activities (14,354) (20,328)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the issuance of common stock 245,000
Proceeds from the issuances of notes payable 1,550,000
Proceeds from the issuances of a shareholder note payable 75,000
Net cash provided by financing activities 1,870,000
NET DECREASE IN CASH (212,302) (1,909,654)
BEGINNING OF THE PERIOD 243,753 2,236,837
END OF THE PERIOD 31,451 327,183
SUPPLEMENTAL DISCLOSURES:    
Cash paid for interest 42,045 2,092
Cash paid for income taxes
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Discount recognized on notes payable at issuance 83,300
Settlement of receivables with payables 47,597 80,000
Right to use assets funded through leases $ 26,298