v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITES    
Net loss $ (2,807,285) $ (5,823,725)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation 24,648 32,701
Amortization of debt discount and deferred financing costs 144,636 66,711
Amortization of intangible assets 640 116
Amortization of right of use assets 66,079 102,789
Impairment of operating lease 259,926
Write-off of prepaid financing costs 150,000
Stock-based compensation 25,599 47,023
Changes in operating assets and liabilities:    
Accounts receivable 14,446 30,440
Inventory (132,891) (7,448)
Other current assets 66,041 (85,438)
Accounts payable 547,420 454,845
Operating lease liability (115,160) (77,164)
Accrued expenses and other current liabilities 192,073 154,896
Net cash flows used in operating activities (1,973,754) (4,694,328)
CASH FLOWS FROM INVESTING ACTIVITIES    
Patent costs (24,499) (33,314)
Purchase of equipment (45,189)
Proceeds from sub-lease deposit 19,331
Security deposit 2,775 (6,250)
Net cash flows used in investing activities (2,393) (84,753)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from secured promissory note 4,100,000
Payment of deferred offering costs (13,484)
Net cash flows provided by financing activities 4,086,516
Decrease in cash and cash equivalents (1,976,147) (692,565)
Cash and cash equivalent, beginning of period 2,153,028 1,129,863
Cash and cash equivalents, end of period 176,881 437,298
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid for interest 3,187 343,986
Cash paid for income taxes
SUPPLEMENTAL SCHEDULE OF NON-CASH FINANCING ACTIVITIES:    
Forgiveness of accrued officers salary 150,002
Interest converted to debt $ 97,072

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