Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (20,153,486) $ (16,005,543)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash lease expense 65,194 76,586
Gain on loan forgiveness (734,077)
Common stock and warrants issued for interest and extension fees 7,265,954 255,259
Depreciation and amortization 110,128 127,301
Accretion of discount on loan receivable (6,250)
Accretion of interest and amortization of debt discount 6,738,802 5,436,863
Loss (Gain) on investment in equity securities 457,025 (500,358)
Loss on extinguishment of accrued liabilities and debt 130,279 1,036,638
Stock-based compensation expense 254,615 488,792
Common stock issued for services 794,562 179,077
Changes in operating assets and liabilities:    
Accounts receivable (23,518) 98,174
Inventories (554,787) 24,949
Prepaid expenses and other assets (107,681) (101,387)
Accounts payable (226,771) (43,819)
Accrued employee compensation 15,106 (33,622)
Operating lease liability (65,194) (76,586)
Deferred revenue and other accrued expenses 1,165,276 4,160,732
Net cash used in operating activities (4,868,573) (4,883,194)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Advance on loan receivable (795,000)
Purchases of property plant and equipment (122,945) (1,663)
Net cash used in investing activities (122,945) (796,663)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from related party debt 254,600 283,700
Payment on related party debt (354,600) (199,200)
Net proceeds from convertible debt 5,514,250 8,296,800
Payments on convertible debt (1,833,295) (2,857,007)
Net proceeds from non-convertible debt 2,010,688 1,290,539
Payments on non-convertible debt (1,516,127) (1,296,060)
Net proceeds from stock option exercises 14,773
Net proceeds from the issuance of Series AA Convertible Preferred Stock 1,015,000 150,000
Net cash provided by financing activities 5,105,289 5,668,772
NET (DECREASE) IN CASH AND CASH EQUIVALENTS 113,771 (11,085)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 18,540 29,625
CASH AND CASH EQUIVALENTS AT END OF YEAR 132,311 18,540
SUPPLEMENTAL INFORMATION    
Interest paid in cash 921,569 764,600
NON CASH TRANSACTIONS:    
Conversion of debt for Series AA preferred stock 500,250 110,000
Discount due to beneficial conversion feature 1,320,331 1,756,311
Discount from warrants issued with debt 1,403,546 4,863,959
Common stock issued in lieu of cash for dividend 184,274 299,709
Common stock issued with debt 646,718 214,419
Common stock issued to settle accrued liabilities 127,855
Common stock issued for debt settlement 374,550
Common stock issued for cashless warrants exercise 363
Conversion of debt and interest into common stock 2,989,990 2,220,442
Preferred stock dividend 1,658,175 1,517,987
Deemed dividend-beneficial conversion feature 873,798 61,180
Loan extension fees and interest added to principal 152,552
Recognition of right of use asset and liability $ 239,327 $ 221,432