XML 36 R6.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flow from operating activities:    
Net loss $ (4,529,317) $ (3,293,184)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on equity method investment 439,637
Depreciation and amortization 206,580 39,526
Vesting expense 287,838 263,600
Common stock issued for management and consulting services 362,300
Amortization of debt discount 448,026 468,564
Loss (gain) on valuation of equity-linked instruments and derivative liability (27,107) 19,408
Debt extinguishment costs 300,000
Equity instruments issued in connection with 2020 convertible debt 16,716
Changes in assets and liabilities:    
Accounts receivable 27,278 59,159
Inventories 34,473 (47,957)
Prepaid expense and other assets (62,248) (3,273)
Accounts payable (27,121) (13,491)
Accrued expenses (14,144) 21,494
Deferred revenue 3,745 (2,136)
Net cash used in operating activities (2,972,981) (2,048,653)
Cash flow from investing activities:    
Advance on notes receivable (631,316)
Transfer of fixed assets to inventory 9,863
Acquisition of intangibles (32,510) (3,198)
Net cash used in investing activities: (32,510) (624,651)
Cash flow from financing activities:    
Extinguishment of convertible debt (93,827)
Proceeds from debt issuance 1,820,000 1,250,000
Repayment of debt (821,916)
Payment penalties (84,898)
Proceeds from issuance of common stock pursuant to equity line 1,869,899
Issuance of common stock, A, B and prefunded warrants, net 3,127,818 2,479,709
Net cash provided by financing activities 5,910,903 3,635,882
Net increase in cash and cash equivalents 2,905,412 962,578
Cash at beginning of period 150,831 162,152
Cash at end of period 3,056,243 1,124,730
Non-cash transactions:    
Bridge loan conversion into common stock 267,328 90,000
Inducement shares issued pursuant to convertible debt 103,284
Inducement shares issued for debt extension 41,250
Warrants issued pursuant to debt issuance 116,951
Put and conversion derivative from debt issuance 120,921
Forbearance settlement bridge loan 503,009
Additional warrants issued pursuant to CEO note payable 8,665
Series E Convertible Preferred Stock [Member]    
Non-cash transactions:    
Series E preferred stock conversions $ 1,412
Chief Executive Officer [Member]    
Non-cash transactions:    
Shares issued pursuant to CEO exchange agreement (in shares) 130,000