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 $ (4,822,015) $ (4,512,886)
Adjustments to reconcile net loss to net cash used in operating activities:    
Right of use asset 28,053
Common stock issued for debt extension 28,490
Depreciation and amortization 47,180 45,874
Accretion of interest and amortization of debt discount 290,040 986,155
Issuance of incentive shares and common stock warrants 168,000 663,130
Inventory reserve recovery (39,900)
Loss(Gain) on extinguishment of debt 147,271 (475,897)
Stock-based compensation expense 607,574 148,270
Shares issued with debt 7,800
Impairment loss on investment 1,834
Changes in operating assets and liabilities:    
Accounts receivable 64,217 (319,242)
Inventories 20,673 (2,501)
Prepaid expenses and other assets 43,077 19,422
Accounts payable 152,275 108,698
Accrued employee compensation (18,323) 58,925
Operating lease liability (28,053)
Deferred revenue and other accrued expenses (172) 678,789
Net cash used in operating activities (3,300,203) (2,603,039)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property plant and equipment (28,915)
Net cash used in investing activities (28,915)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from revolving note payable 460,000
Net proceeds from warrant exercises
Net proceeds from Series AA Convertible Preferred Stock 2,292,300 226,091
Net proceeds from convertible debt 3,339,050 3,242,950
Net proceeds from non-convertible debt - third party 1,211,500 952,501
Net proceeds from non-convertible debt - related party 125,000 102,100
Payments on convertible debt (2,533,985) (1,518,500)
Payments on non-convertible debt - related party (125,000) (52,100)
Payments on non-convertible debt (964,932) (872,545)
Net cash provided by financing activities 3,343,933 2,540,497
NET INCREASE (DECREASE) IN CASH 14,815 (62,542)
CASH AT BEGINNING OF YEAR 103,118 81,033
CASH AT END OF PERIOD 117,933 18,491
SUPPLEMENTAL INFORMATION    
Interest paid in cash 1,162,557 525,979
Income taxes paid
NON CASH TRANSACTIONS:    
Common stock issued in lieu of cash for interest 90,023
Common stock issued with debt 167,359 170,745
Discount from warrants issued with convertible debt 162,023
Discount from one-time interest 154,500
Common stock issued in lieu of cash for dividend 151,993
Preferred stock dividends 776,099 95,879
Conversion of debt into preferred stock 12,688,634
Contingent beneficial conversion feature on convertible note 253,000
Deemed dividend-triggered down round feature 213,012
Deemed dividend-beneficial conversion feature 1,949,731 10,532,291
Derivative liability released upon warrant exercise