XML 17 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net (Loss) income $ (5,980,791) $ (1,696,554)
Adjustments to reconcile net (loss) income to net cash provided by (used) in operating activities    
Amortization of debt discount 739,324 86,268
Amortization of capitalized software 11,585
Amortization of intangibles 167,806 167,807
Acceleration of debt discount 500,145  
Operating Lease Payments 2,574 3,453
Liability to issue shares for services 32,500 242,969
Stock issued for services 35,200 16,000
Stock compensation expense 534,475 373,060
Changes in Assets and Liabilities    
Accounts receivable (338,577) (4,218)
Product deposit (131,143) (98,275)
Inventory 141,213 319,330
Other current assets 114,047 144,241
Deferred revenue 194,118 (3,871)
Deferred tax liability (4,000)
Accounts payable and accrued expenses 2,880,243 1,113,972
Net cash (used in) provided by operating activities (1,097,281) 640,182
CASH FLOWS FROM INVESTING ACTIVITIES    
Payment to seller for contingent consideration (277,161) (500,000)
Proceeds from sale of legacy business (400,000)
Net cash used in investing activities (677,161) (500,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Shares issued for cash 250,000
Cash receipts from investors for unissued shares 1,639,000
Debt issuance costs (15,000)
Distributions to non-controlling interest (121,223) (34,298)
Proceeds from notes payable 1,750,000 50,000
Repayment of notes payable (2,498,808) (70,870)
Net cash provided by (used in) financing activities 1,003,969 (55,168)
Net increase in cash (770,473) 85,014
Cash at beginning of the period 1,106,624 180,093
Cash at end of the period 336,151 265,107
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest 4,383 4,383
Agreement to issue shares for non-controlling interest in CVLB PR 907,031
Cashless exercise of warrants 49,551
Deemed distribution from down-round provision 1,142,385
Stock yet to be issued for capitalized costs 40,000
Deemed distribution from down-round provision on unissued shares 194,022
Shares issued for share liability (1,726,000)
Debt issuance costs for liability to issue shares $ 219,450