v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash from operating activities:    
Net loss $ (3,358,903) $ (3,612,938)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 171,382 97,353
Stock based compensation 153,163 96,270
Modification of employee stock options 102,800
PPP loan forgiveness including accrued interest (1,421,577)
Interest expense related to debt discounts 94,627
Amortization of operating lease right of use asset 106,676 113,419
Changes in assets and liabilities:    
Accounts receivable 902,871 2,114,802
Contract assets (50,331) 530,110
Prepaid expenses and other current assets 98,055 235,194
Accounts payable (69,638) (2,009,394)
Accounts payable-related party (300)
Payroll taxes payable (3,146) (104,381)
Accrued expenses 66,338 (247,474)
Lease obligation (110,843) (114,865)
Contract liabilities (485,722) (5,378)
Deferred revenue 782,772 (442,598)
Net cash used in operating activities (3,218,903) (3,152,753)
Cash flows from investing activities:    
Purchase of patents/trademarks (7,435) (7,735)
Purchase of fixed assets (184,492) (171,467)
Net cash used in investing activities (191,927) (179,202)
Cash flows from financing activities:    
Repayments of line of credit (27,615)
Repayments of insurance and equipment financing (191,798) (83,257)
Repayment of finance lease (43,527) (21,786)
Repayment of notes payable (1,000,000)
Proceeds from PPP loan 1,410,270
Proceeds from equipment financing 121,637
Proceeds from common stock issued 9,253,128
Issuance cost (1,001,885)
Proceeds from preferred stock issued 4,500,000
Net cash provided by financing activities 4,264,675 8,650,492
Net increase in cash 853,845 5,318,537
Cash, beginning of period 3,969,100 56,249
Cash, end of period 4,822,945 5,374,786
Supplemental Disclosure of Cash Flow Information:    
Interest paid 22,339 29,830
Supplemental Non-Cash Investing and Financing Activities:    
Common stock issued for accrued BOD fees 15,000
Lease right of use asset and liability 644,245
Note issued for financing of insurance premiums $ 303,487 $ 216,754

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