General form of registration statement for all companies including face-amount certificate companies

CONSOLIDATED STATEMENTS OF CASH FLOWS 2

v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS 2 - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash from operating activities:    
Net loss $ (6,008,901) $ (6,747,435)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense (recovery) 76,046 (3,217)
Depreciation and amortization 275,346 222,514
Loss on disposal of assets 14,454
Stock based compensation 262,411 351,970
Modification of employee stock options 102,800
Stock issued for services 144,167
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 250,482 234,001
Changes in assets and liabilities:    
Accounts receivable (611,023) 1,369,949
Contract assets 99,009 1,273,462
Inventory (185,915) 112,423
Prepaid expenses and other current assets 423,905 379,175
Security deposit (600,000)
Accounts payable 445,184 (2,042,118)
Accounts payable-related party (7,700) (5,091)
Payroll taxes payable (3,146) (111,965)
Accrued expenses (408,692) 697,320
Operating lease obligation (127,816) (239,688)
Contract liabilities 523,085 700,892
Deferred revenue 281,303 (621,058)
Net cash used in operating activities (6,579,378) (4,231,439)
Cash flows from investing activities:    
Purchase of patents/trademarks (7,435) (8,185)
Purchase of fixed assets (545,505) (279,146)
Net cash used in investing activities (552,940) (287,331)
Cash flows from financing activities:    
Repayments of line of credit (27,615)
Repayments of insurance and equipment financing (353,444) (260,983)
Repayment of finance lease (89,618) (62,931)
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 4,056,938 8,431,621
Net (decrease) increase in cash (3,075,380) 3,912,851
Cash, beginning of period 3,969,100 56,249
Cash, end of period 893,720 3,969,100
Supplemental Disclosure of Cash Flow Information:    
Interest paid 30,817 33,698
Supplemental Non-Cash Investing and Financing Activities:    
Common stock issued for accrued BOD fees 52,500
Lease right of use asset and liability 4,980,104
Notes issued for financing of insurance premiums $ 363,005 $ 261,626