v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (11,322,758) $ (8,522,667)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on loan forgiveness (367,039)
Non-cash lease expense 31,624 35,927
Common stock and warrants issued for interest and extension fees 4,054,749 159,784
Depreciation and amortization 56,291 74,247
Accretion of interest and amortization of debt discount 3,909,024 1,750,911
Loss on extinguishment of accrued liabilities and debt 977,622
Stock-based compensation expense 124,695 307,110
Loss (Gain) on investment in equity securities 242,380 (346,262)
Common stock issued for services 238,512 87,963
Changes in operating assets and liabilities:    
Accounts receivable (498,538) 108,096
Inventories 100,672 2,853
Prepaid expenses and other assets 95,775 20,944
Accounts payable (143,110) (5,927)
Accrued employee compensation 2,932 (58,775)
Operating lease liability (31,624) (35,927)
Deferred revenue and other accrued expenses 1,415,688 2,643,607
Net cash used in operating activities (2,090,727) (2,800,494)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Advance on loan receivable (531,250)
Purchases of property plant and equipment (3,962) (1,663)
Net cash used in investing activities (3,962) (532,913)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from Series AA Convertible Preferred Stock 100,000
Proceeds from stock option exercises 14,773
Net proceeds from convertible debt 2,598,250 4,422,600
Net proceeds from non-convertible debt – third party 1,183,188 990,539
Net proceeds from non-convertible debt – related party 171,600 8,500
Payments on convertible debt (1,200,996) (1,257,250)
Payments on non-convertible debt – related party (153,000)
Payments on non-convertible debt (591,041) (819,149)
Net cash provided by financing activities 2,122,774 3,345,240
NET INCREASE IN CASH AND CASH EQUIVALENTS 28,085 11,833
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 18,540 29,625
CASH AND CASH EQUIVALENTS AT END OF PERIOD 46,625 41,458
SUPPLEMENTAL INFORMATION    
Interest paid in cash 383,403 419,817
NON CASH TRANSACTIONS:    
Interest added to principal 152,552
Common stock issued to settle accrued liabilities 127,855
Common stock issued with debt 112,877
Discount from warrants issued with debt 1,068,842 2,958,693
Common stock issued in lieu of cash for dividend 114,298 176,748
Preferred stock dividends 807,386 721,556
Conversion of debt and interest into common stock 349,250 1,317,649
Discount due to beneficial conversion feature 566,847 982,097
Deemed dividend - beneficial conversion feature $ 57,884

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