v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash from operating activities:    
Net loss $ (5,809,340) $ (6,321,517)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 281,220 159,121
Stock based compensation 215,753 261,761
Stock issued for services 75,000
Modification of employee stock options 102,800
PPP loan forgiveness including accrued interest (1,421,577)
Interest expense related to debt discounts 94,627
Bad debt expense 76,046
Changes in assets and liabilities:    
Accounts receivable 631,948 1,271,822
Contract assets (147,412) 1,191,685
Prepaid expenses and other current assets 264,878 331,456
Operating lease right of use asset 173,214 172,778
Security deposit (600,000)
Accounts payable 378,853 (1,938,824)
Accounts payable-related party (7,700) (4,841)
Payroll taxes payable (3,146) (111,965)
Accrued expenses 164,782 648,625
Operating lease obligation (179,464) (176,345)
Contract liabilities (207,507) 324,090
Deferred revenue 591,784 (229,184)
Net cash used in operating activities (5,522,668) (4,223,911)
Cash flows from investing activities:    
Purchase of patents/trademarks (7,435) (8,185)
Purchase of fixed assets (303,341) (216,401)
Net cash used in investing activities (310,776) (224,586)
Cash flows from financing activities:    
Repayments of line of credit (27,615)
Repayments of insurance and equipment financing (311,442) (204,659)
Repayment of finance lease (66,243) (42,046)
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 4,122,315 8,508,830
Net (decrease) increase in cash (1,711,129) 4,060,333
Cash, beginning of period 3,969,100 56,249
Cash, end of period 2,257,971 4,116,582
Supplemental Disclosure of Cash Flow Information:    
Interest paid 25,678 32,768
Supplemental Non-Cash Investing and Financing Activities:    
Common stock issued for accrued BOD fees 52,500
Lease right of use asset and liability 644,245
Notes issued for financing of insurance premiums $ 323,452 $ 233,350

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