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 $ (3,650,740) $ (3,076,873)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 29,102 23,853
Amortization of debt discount 129,256  
Stock based compensation 534,774 443,249
Bad debt expense on note receivable and accrued interest 89,933
Loss on abandonment of patents 36,205
Change in fair value of derivative liability 3,139
Changes in assets and liabilities:    
Accounts receivable 32,333 (193,168)
Inventories 172,653 14,251
Deposits and other assets (118,168)
Prepaid expenses (21,013) (1,214)
Accrued payroll and payroll related expenses 43,801 55,230
Accounts payable and accrued expenses (350,650) 50,752
Accrued separation costs (6,750)
Net cash used in operating activities (3,047,889) (2,712,155)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Increase in intangible assets (58,394) (30,483)
Net cash used in investing activities (58,394) (30,483)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the issuances of related party notes payable 1,575,000
Proceeds from the issuance of a related party convertible note payable 750,000
Proceeds from the issuances of convertible notes payable 300,000
Proceeds from the issuance of common stock 245,000 704,375
Net cash provided by financing activities 2,870,000 704,375
NET DECREASE IN CASH (236,283) (2,038,263)
BEGINNING OF THE PERIOD 243,753 2,236,837
END OF THE PERIOD 7,470 198,574
SUPPLEMENTAL DISCLOSURES:    
Cash paid for interest 13,937 3,356
Cash paid for income taxes
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Discount recognized on notes payable at issuance 384,710
Settlement of receivables with payables 60,670 221,814
Right to use assets funded through leases $ 22,015 $ 539,662