XML 19 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flow from operating activities    
Net Income (loss) $ (6,033,766) $ (19,480,701)
Adjustment to reconcile comprehensive income/(loss) to net cash used in operating activities    
Depreciation and amortization 2,265,297 2,903,662
Amortization of right of use asset 3,788
Impairment on goodwill and Intangible assets 9,038,553
Provision for Preference dividend 426,003 2,583,184
Changes in fair value of warrants (1,796,174) 2,760,819
Changes in estimate of contingent consideration (6,940,310)
Stock, option, restricted stock unit and warrant expense 586,495 1,251,489
Foreign exchange translation adjustment (26,985)
Provision for Income taxes (net of deferred income taxes) 388,657 6,348,502
Loss on sale of fixed assets (11,386) (2,139)
Increase (decrease) in:    
Accounts receivable 1,487,274 967,031
Other current assets 34,994 105,666
Increase (decrease) in:    
Accounts payable and accrued expenses 222,679 (2,101,251)
Net cash provided by (used in) operating activities (2,453,123) (2,565,495)
Cash flow from investing activities    
Purchase of fixed assets (84,331) 6,421
Acquisition consideration (200,000) (3,645,667)
Net cash used in investing activities (284,331) (3,639,246)
Cash flow from financing activities    
Proceeds from bank loan and convertible notes, net (1,326,070) (1,976,299)
Proceeds from Issue of debentures 1,000,000
Contingent consideration for acquisitions (1,657,667)
Proceeds from issuance of common shares, net 2,123,594 6,327,954
Net cash provided by financing activities 1,797,524 2,693,988
Net increase (decrease) in cash and cash equivalents (939,931) (3,510,753)
Cash and cash equivalents as at beginning of the period 1,371,331 4,882,084
Cash at the end of the period 431,400 1,371,331
SUPPLEMENTAL DISCLOSURES:    
Cash paid during the period for: Interest 480,404 571,628
Cash paid during the period for: Taxes
Non-cash investing and financing activities:    
Operating lease liability $ 371,754