General form of registration statement for all companies including face-amount certificate companies

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 6 Months Ended 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES        
Net loss $ (6,027,826) $ (10,924,353) $ (19,390,132) $ (12,096,864)
Allowance for doubtful accounts       (7,914)
Depreciation 49,473 67,682 143,459 54,946
Amortization of right of use assets     (81,659)  
Amortization of debt discount and deferred financing costs 295,159 134,993 119,105 835,849
Accreted interest     224,582  
Amortization of intangible assets 6,464 429 1,055 194
Loss on disposal of fixed assets     183,431  
Non-cash lease expense 134,768 110,161    
Loss on conversion of debt       31,943
Impairment of operating lease   259,926 292,095  
Change in fair value of derivative liability       975,902
Impairment of deferred offering and financing costs   270,632 82,332  
Changes in operating assets and liabilities:        
Stock-based compensation 1,906,679 72,035 938,052  
Restricted cash 19,332      
Accounts receivable (312,769) (9,070) 10,228 9,329
Inventory (102,821) (59,224) (79,591) (174,624)
Other current assets (145,608) (383,874) (167,192) (477,937)
Accounts payable 1,041,105 603,891 1,210,269 (44,359)
Operating lease liability (234,400) (152,510)    
Accrued expenses and other current liabilities 604,579 1,498,146 1,849,581 2,376,272
Adjustments to reconcile net loss to net cash flows used in operating activities:        
Net cash flows used in operating activities (2,765,865) (8,511,136) (14,664,385) (8,517,263)
CASH FLOWS FROM INVESTING ACTIVITIES        
Patent costs (24,499) (43,474) (74,111) (53,482)
Deposits     (2,775) (31,965)
Purchase of equipment (6,898) (69,268) (77,936) (544,236)
Proceeds from sub-lease deposit 19,332      
Security deposit 2,775 (8,475)    
Purchase of licenses   (200,000) (200,000)  
Net cash flows used in investing activities (9,290) (321,217) (354,822) (629,683)
CASH FLOWS FROM FINANCING ACTIVITIES        
Proceeds from secured promissory note   8,350,000 10,000,000 9,875,000
Proceeds from paycheck protection program loan 666,091      
Payment of deferred offering costs   (67,350) (67,350)  
Proceeds from convertible notes payable       100,000
Proceeds from sale of common stock, net of costs     6,109,722 4,696
Repayment of advances from related party       (155,645)
Purchase and retirement of common stock       (3,260)
Net cash flows provided by financing activities 666,091 8,282,650 16,042,372 9,820,791
Decrease in cash and cash equivalents (2,109,064) (549,703) 1,023,165 673,845
Effect of foreign currency translation of cash   10,742    
Cash and cash equivalent, beginning of year 2,153,028 1,129,863 1,129,863 456,018
Cash and cash equivalents, end of year 43,964 590,902 2,153,028 1,129,863
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:        
Cash paid for interest 4,928 690,675 1,038,246 979,167
Cash paid for income taxes
SUPPLEMENTAL SCHEDULE OF NON-CASH FINANCING ACTIVITIES:        
Debt exchanged for common stock     14,496,871  
Accrued interest converted to debt     $ 230,565 17,310
Increase in debt for non cash interest       135,246
Derivative liability       $ 1,141,995
Forgiveness of accrued officers’ salary $ 150,002      
Interest converted to debt   $ 196,570