v3.19.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITES    
Net loss $ (5,823,725) $ (1,571,469)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation 32,701 2,635
Allowance for doubtful accounts (7,914)
Amortization of debt discount and deferred financing costs 66,711 (61,977)
Amortization of intangible assets 116
Amortization of operating lease asset 102,789
Impairment of operating lease 259,926
Write-off of prepaid financing costs 150,000
Stock-based compensation 47,023
Change in fair value of derivative liability 869,129
Changes in operating assets and liabilities:    
Account receivable 30,440 39,769
Inventory (7,448) (99,252)
Other current assets (85,438) (29,601)
Account payable 454,845 (48,652)
Operating lease liability 77,164
Accrued expenses and other current liabilities 154,896 29,166
Net cash flows used in operating activities (4,694,328) (878,166)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of equipment (45,189) (1,623)
Patent costs (33,314) (8,380)
Deposits (6,250)
Net cash flows used in investing activities (84,753) (10,003)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from secured promissory note 4,100,000 5,000,000
Payment of deferred offering costs (13,484)
Proceeds from convertible notes payable 100,000
Repayment of advances from related party (41,975)
Net cash flows provided by financing activities 4,086,516 5,058,025
(Decrease) increase in cash and cash equivalents (692,565) 4,169,856
Cash and cash equivalent, beginning of period 1,129,863 456,018
Cash and cash equivalents, end of period 437,298 4,625,874
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid for interest 343,986 123,583
Cash paid for income taxes
SUPPLEMENTAL SCHEDULE OF NON-CASH FINANCING ACTIVITIES:    
Interest converted to debt 97,072 17,310
Derivative liability 1,035,222
Increase in debt for non cash interest $ 10,018

Source