XML 22 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (10,746,514) $ (9,217,108)
Adjustments to reconcile net loss with cash flows from operations:    
Depreciation and amortization expense 943,436 923,563
Stock-based compensation 4,795,069 741,668
(Gain)/loss on extinguishment of note payable (971,522) 985,842
Amortization of debt discounts and issuance costs 554,020 333,388
Impairment losses 1,035,629
Warrant exercise inducement 366,795
Changes in operating assets and liabilities:    
Accounts receivable (92,993) 73,442
Net investment in direct financing lease 53,787 48,341
Other current assets (524,943) 450,755
Inventory 47,480 (70,040)
Accounts payable and accrued expenses 336,099 1,232,898
Deferred revenue 132,018 (36,902)
Other liabilities (47,809)
Net cash flows from operating activities (5,521,872) (3,131,729)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (79,703) (8,643)
Purchase of intangible assets (23,702)
Investment in other assets (172,880)
Net cash flows from investing activities (103,405) (181,523)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock, net of offering costs 10,282,998
Proceeds from exercise of warrants 273,753 1,248,983
Proceeds from exercise of stock options 24,660 1,510,000
Proceeds from paycheck protection program 485,762 485,760
Payment of debt issuance costs (104,800)
Payments on notes payable (4,400)
Principal payments on capital lease obligation (28,981) (29,669)
Net cash flows from financing activities 11,033,792 3,110,274
Effect of Foreign Currencies 59,607 (96,653)
Net Change in Cash 5,468,122 (299,631)
Cash, Beginning of the Period 3,765,277 567,081
Cash, End of the Period 9,233,399 267,450
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 10,984 7,505
Cash paid for income taxes 12,516 23,540
Non-cash Investing and Financing Activities:    
Reclass from other assets to intangible assets 8,270
Modification of warrants issued with convertible debt 95,223
Exchange of notes payable and accrued interest for convertible notes payable 2,662,000
Settlement of accounts payable with issuance of common stock 349,376 8,270
Conversion of convertible note payable and accrued interest to common stock $ 6,232,340