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 ACTIVITES    
Net loss $ (3,138,119) $ (2,807,285)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation 25,142 24,648
Amortization of deferred financing costs 60,797 159,378
Amortization of intangible assets 12,750 640
Amortization of right of use asset 51,065 66,079
Loss on Intellectual Property 34,178
Stock-based compensation 1,348,462 25,599
Changes in operating assets and liabilities:    
Accounts receivable 28,419 14,446
Inventory (142) (132,891)
Other current assets (374,452) 51,299
Accounts payable (433,400) 547,420
Deferred revenue (108,851) (53,091)
Operating lease liability (56,168) (115,160)
Accrued expenses and other current liabilities (515,880) 245,164
Net cash flows used in operating activities (3,066,199) (1,973,754)
CASH FLOWS FROM INVESTING ACTIVITIES    
Patent costs (24,499)
Purchase of equipment (58,281)
Proceeds from sub-lease deposit 19,331
Security deposit (90,000) 2,775
Net cash flows used in investing activities (148,281) (2,393)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of warrants 1,279,892
Payments for deferred offering costs (99,958)
Net cash flows provided by financing activities 1,179,934
Decrease in cash and cash equivalents (2,034,546) (1,976,147)
Cash and cash equivalent, beginning of period 26,060,733 2,153,028
Cash and cash equivalents, end of period 24,026,187 176,881
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid for interest 11,705 3,187
Cash paid for income taxes
SUPPLEMENTAL SCHEDULE OF NON-CASH FINANCING ACTIVITIES:    
Forgiveness of accrued officers salary $ 135,103 $ 150,002