v3.22.2.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (11,618,260) $ (16,273,871)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on loan forgiveness (10,000) (367,039)
Non-cash lease expense 82,001 48,158
Common stock and warrants issued for interest and extension fees 2,196,278 6,208,696
Depreciation and amortization 67,985 83,531
Accretion of interest and amortization of debt discount 1,777,863 5,308,424
Loss on extinguishment of accrued liabilities and debt 1,809,249 23,004
Stock-based compensation expense 128,984 219,943
Loss on investment in equity securities 8,047 404,451
Common stock and warrants issued for services 367,370 579,512
Changes in operating assets and liabilities:    
Accounts receivable (11,568) (407,404)
Inventories (238,973) (203,651)
Prepaid expenses and other assets 204,141 (306,024)
Accounts payable 80,130 (336,675)
Accrued employee compensation 104,258 39,801
Operating lease liability (82,001) (48,158)
Deferred revenue and other accrued expenses 2,083,239 943,400
Net cash used in operating activities (3,051,257) (4,083,902)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property plant and equipment (20,754) (4,503)
Net cash used in investing activities (20,754) (4,503)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from Series AA Convertible Preferred Stock 1,015,000
Proceeds from stock option exercises 17,443 14,773
Net proceeds from convertible debt 3,428,249 5,054,500
Net proceeds from non-convertible debt - third party 1,815,000 1,610,688
Net proceeds from non-convertible debt - related party 762,500 194,600
Payments on convertible debt (1,086,946) (1,608,295)
Payments on non-convertible debt - related party (259,600) (256,600)
Payments on non-convertible debt (1,506,066) (1,291,150)
Net cash provided by financing activities 3,170,580 4,733,516
NET INCREASE IN CASH AND CASH EQUIVALENTS 98,569 645,111
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 132,311 18,540
CASH AND CASH EQUIVALENTS AT END OF PERIOD 230,880 663,651
SUPPLEMENTAL INFORMATION    
Interest paid in cash 938,451 802,084
NON CASH TRANSACTIONS:    
Common stock issued for non-cash warrant exercise 363
Early adoption of ASU 2020-06 adoption 473,027
Common stock issued with debt 512,593 551,198
Discount from warrants issued with debt 93,576 1,403,546
Common stock issued in lieu of cash for dividend 306,333 114,298
Preferred stock dividends 1,295,566 1,239,535
Conversion of debt and interest into common stock 350,500 2,589,990
Discount due to beneficial conversion feature 1,231,528
Deemed dividend - beneficial conversion feature 873,798
Conversion of accrued liabilities and debt for Series AA preferred stock 500,250
Conversion of preferred stock into common stock $ 44

Source