Cash Flow

v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash from operating activities:    
Net profit (loss) $ (2,147,049) $ 44,169
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 48,647 41,132
Stock based compensation 8,100 21,892
Interest expense related to debt discounts 48,926
Changes in assets and liabilities:    
Accounts receivable 1,966,072 (2,084,943)
Contract assets 992,220 921,608
Prepaid expenses and other current assets (5,062) 91,898
Operating lease right of use asset 55,858 (557,485)
Accounts payable (1,970,190) 643,916
Related payable-related party (300)
Payroll taxes payable (102,721) (156,843)
Accrued expenses (242,303) 26,265
Operating lease obligation (55,965) 571,245
Contract liabilities 1,509 (999,048)
Deferred revenue (254,755) (63,965)
Net cash used in operating activities (1,657,013) (1,500,159)
Cash flows from investing activities:    
Purchase of patents/trademarks (7,310) (3,000)
Purchase of fixed assets (28,935) (88,511)
Net cash used in investing activities (36,245) (91,511)
Cash flows from financing activities:    
Repayments of line of credit (27,550) (921)
Repayments of insurance and equipment financing (23,094) (64,295)
Payment of finance lease (10,702)
Proceeds from common stock issued 9,253,128
Issuance cost (1,001,885)
Proceeds from warrants exercised 1,650,000
Net cash provided by financing activities 8,189,897 1,584,784
Net increase (decrease) in cash 6,496,639 (6,886)
Cash, beginning of period 56,249 1,209,301
Cash, end of period 6,552,888 1,202,415
Supplemental Disclosure of Cash Flow Information:    
Interest paid 6,643 1,536
Supplemental Non-Cash Investing and Financing Activities:    
Common stock issued for accrued BOD fees 7,500
Note issued for financing of insurance premiums $ 165,375 $ 165,864

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