Cash Flow

v3.19.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash from operating activities:    
Net loss $ (1,905,622) $ (1,377,467)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 87,325 43,714
Stock based compensation 28,134 403,070
Changes in assets and liabilities:    
Accounts receivable (302,986) (453,476)
Contract assets 904,543 83,872
Prepaid expenses and other current assets 86,411 (150,340)
Operating lease right of use asset (565,926)
Accounts payable (519,468) 351,832
Related payable-related party 2,000
Payroll taxes payable (196,609) 28,942
Accrued expenses 15,671 (54,781)
Operating lease obligation 592,402
Contract liabilities (1,170,197) 1,568,554
Deferred revenue 234,988 (250,175)
Net cash (used in) provided by operating activities (2,711,334) 195,745
Cash flows from investing activities:    
Software development costs (60,000)
Purchase of patents/trademarks (3,000) (1,000)
Purchase of fixed assets (223,549) (134,814)
Net cash used in investing activities (226,549) (195,814)
Cash flows from financing activities:    
Repurchase of common stock (1,151)
Repayments of line of credit (2,497) (1,305)
Repayments of related party notes (48,215)
Issuance cost (10,000)
Repayments of insurance and equipment financing (141,105) (138,633)
Proceeds from warrants exercised 2,164,019
Net cash provided by (used in) financing activities 2,009,266 (188,153)
Net decrease in cash (928,617) (188,222)
Cash, beginning of period 1,209,301 1,941,818
Cash, end of period 280,684 1,753,596
Supplemental Disclosure of Cash Flow Information:    
Interest paid 4,109 5,327
Supplemental Non-Cash Investing and Financing Activities:    
Common stock issued for accrued BOD fees 73,708
Note issued for financing of insurance premiums $ 217,804 $ 198,548

Source