v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITES    
Net loss $ (10,874,157) $ (9,353,706)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation 77,825 74,079
Amortization of deferred financing costs 120,712 481,916
PPP Loan forgiveness (666,091)
Amortization of intangible assets 682,239 13,152
Change in fair value of derivative liability 136,323
Amortization of right of use asset 166,580 206,161
Loss on Intellectual Property 33,334
Stock-based compensation 1,955,073 3,047,970
Changes in operating assets and liabilities:    
Accounts receivable (1,165,219) (523,573)
Inventory (132,231) (120,799)
Other current assets 101,148 (205,992)
Accounts payable (577,269) 701,825
Deferred revenue 173,377 (69,632)
Operating lease liability (155,963) (357,860)
Accrued expenses and other current liabilities (1,329,680) 1,061,665
Net cash flows used in operating activities (11,623,656) (4,875,137)
CASH FLOWS FROM INVESTING ACTIVITIES    
Patent costs (14,111) (27,915)
Purchase of equipment (80,358) (8,598)
Purchase of American Robotics, Inc., net of cash acquired (8,528,844)
Proceeds from sub-lease deposit 19,332
Security deposit (61,423) 3,575
Net cash flows used in investing activities (8,684,736) (13,606)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from paycheck protection program loan 666,091
Proceeds from sale of preferred stock, net of costs 4,217,969
Proceeds from exercise of warrants 1,344,895
Proceeds from 2021 Public Offering, net of costs 47,523,569
Payments on loan payable (7,124,278)
Net cash flows provided by financing activities 41,744,186 4,884,060
Increase (decrease) in cash and cash equivalents 21,435,794 (4,683)
Cash and cash equivalent, beginning of period 26,060,733 2,153,028
Cash and cash equivalents, end of period 47,496,527 2,148,345
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid for interest 1,038,532 11,939
Cash paid for income taxes
SUPPLEMENTAL SCHEDULE OF NON-CASH FINANCING ACTIVITIES:    
Forgiveness of accrued officers salary 135,103 150,002
Debt exchanged for preferred stock 265,779
Accrued interest converted to debt 1,254,236
Shares issue for extension of debt $ 390,000

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