XML 37 R6.htm IDEA: XBRL DOCUMENT v3.19.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (6,356,677) $ (3,590,174)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 534,484 394,238
Amortization of debt discounts 36,556 32,430
Option, warrant, RSU and PSU expense 997,368 730,443
Noncash operating lease expense 163,710 0
Unrealized loss (gain) on marketable securities (252) 30
Amortization of deferred commission 174,841 59,705
Changes in operating assets and liabilities:    
Accounts receivable (1,190,016) (125,980)
Deferred costs (259,792) (201,142)
Other current assets (133,690) 40,419
Accounts payable and accruals 576,585 155,128
Operating lease liabilities (138,155) (2,507)
Deferred revenue 1,282,901 1,264,919
Related party payables (9,926) (9,068)
Net cash used in operating activities (4,322,063) (1,251,559)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment (45,803) (10,893)
Software development costs (137,373) (308,933)
Net cash used in investing activities (183,176) (319,826)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of common stock for cash   5,609,215
Issuance of convertible note payable-related party   50,000
Issuance of convertible notes payable   50,000
Proceeds from exercise of warrants and options 2,256,642 0
Repayments of notes payable and finance leases (29,053) (7,595)
Net cash provided by financing activities 2,227,589 5,701,620
Net (decrease) increase in cash (2,277,650) 4,130,235
Cash-beginning of period 5,741,549 1,960,430
Cash-end of period 3,463,899 6,090,665
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest paid 4,326 1,327
Income taxes paid   0
Non cash investing and financing activities:    
Right-of-use assets and operating lease obligations recognized during the year 483,565 0
Equipment acquired under finance leases 61,352 77,864
Deferred costs originated from issuance of warrants in connection with line of credit 219,335 0
Debt discount originated from issuance of warrant attached to notes payable   100,000
Reclassify fair value of warrant liabilities to equity upon adoption of ASU 2017-11   2,984,010
Accounting Standards Update 2014-09 [Member]    
Changes in operating assets and liabilities:    
Deferred costs (259,792) (201,142)
Non cash investing and financing activities:    
Adoption of ASU   80,153
Accounting Standards Update 2016-02 [Member]    
Non cash investing and financing activities:    
ROU assets and operating lease obligations recognized upon adoption of ASU 2016-02 $ 568,268 $ 0