Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.19.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash Flows from Operating Activities    
Net loss $ (8,992,087) $ (1,259,922)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 419,837 48,888
Amortization of debt discount 127,863
Stock-based compensation 1,782,413
Common stock issued for consulting services 52,034
Changes in operating assets and liabilities, net of purchase transaction:    
Accounts receivable 147,103 (19,169)
Other receivables (60,722)
Accounts receivable from related parties 47,033
Inventory 2,191
Prepaid expenses and other assets (41,665) 73,422
Interest payable 4,838 49,574
Accounts payable (691,635) 26,283
Accounts payable to related parties (180,000)
Accrued liabilities (222,779) (116,412)
Other current liabilities 555,056 133,232
Dividend payable (6,137)
Deferred revenue 512,313 (567,063)
Net Cash Used in Operating Activities (6,591,377) (1,584,134)
Cash Flows from Investing Activities    
Purchases of property and equipment (13,703) (203,695)
Purchase of business, net of cash acquired (302,710)
Net assets not included in purchase transaction (69,629)
Net Cash Used in Investing Activities (386,042) (203,695)
Cash Flows from Financing Activities    
Payments on notes payable obligations (84,381) (2,424)
Borrowings from notes payable obligations 8,656 8,081
Proceeds from issuance of preferred and common stock, net of offering costs 4,417,946
Proceeds from issuance of warrants, net of offering costs 2,565,638
Proceeds from issuance of note payable 1,967,724
Proceeds from contribution from stockholders 300,000
Net Cash Provided by Financing Activities 7,207,859 1,973,381
Net Increase in Cash 230,440 185,552
Cash - Beginning of period 69,628 251,330
Cash - End of period 300,068 436,882
Supplementary Cash Flow Information    
Cash paid for interest 3,700 20,900
Non-cash investing and financing activities    
Financing agreement for insurance policy 139,715
Conversion of note and accrued interest to common stock and warrants 100,667
Issuance of common stock for Series B Preferred Stock conversion 605
Dividends accrued $ 45,639