Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash from operating activities:    
Net loss $ (406,023) $ (2,147,049)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 73,049 48,647
Stock based compensation 76,301 8,100
PPP loan forgiveness including accrued interest (1,421,577)
Interest expense related to debt discounts 48,926
Amortization of operating lease right of use asset 42,121 55,858
Changes in assets and liabilities:    
Accounts receivable (197,827) 1,966,072
Contract assets 64,892 992,220
Prepaid expenses and other current assets 7,579 (5,062)
Accounts payable 90,332 (1,970,190)
Accounts payable-related party (300)
Payroll taxes payable (102,721)
Accrued expenses (42,611) (242,303)
Lease obligation (44,241) (55,965)
Contract liabilities (490,970) 1,509
Deferred revenue 952,551 (254,755)
Net cash used in operating activities (1,296,424) (1,657,013)
Cash flows from investing activities:    
Purchase of patents/trademarks (7,435) (7,310)
Purchase of fixed assets (50,670) (28,935)
Net cash used in investing activities (58,105) (36,245)
Cash flows from financing activities:    
Repayments of line of credit (27,550)
Repayments of insurance and equipment financing (21,206) (23,094)
Repayment of finance lease (21,452) (10,702)
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 4,457,342 8,189,897
Net increase in cash 3,102,813 6,496,639
Cash, beginning of period 3,969,100 56,249
Cash, end of period 7,071,913 6,552,888
Supplemental Disclosure of Cash Flow Information:    
Interest paid 5,671 6,643
Supplemental Non-Cash Investing and Financing Activities:    
Common stock issued for accrued BOD fees 7,500
Note issued for financing of insurance premiums $ 215,654 $ 165,375