XML 30 R6.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Loss $ (60,524,351) $ (3,528,258)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Amortization of debt discount 817,118 622,256
Amortization of capitalized software 62,153
Amortization of intangibles 335,612 335,613
Acceleration of debt discount 500,145
Loss on debt settlement 914,862
Operating Lease Payments 4,533 6,353
Stock issued for services 18,305,000 16,000
Stock compensation expense 18,656,141 733,215
Deferred tax liability (70,000) 66,000
Changes in Assets and Liabilities    
Accounts receivable (550,973) 1,605
Product deposit (666,765) (116,695)
Inventory (314,199) 72,557
Other current assets 95,595 (172,965)
Deferred revenue 807,328 33,568
Accounts payable and accrued expenses 9,496,187 2,182,159
Net cash (used in) provided by operating activities (12,131,614) 251,408
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash paid for capitalized software costs (398,136)
Payment to seller for contingent consideration (400,000) (100,000)
Net cash used in investing activities (798,136) (100,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Cash proceeds from private placement offering, net 14,900,220
Cash proceeds from Series B Preferred Stock 2,892,500
Proceeds from convertible notes payable 2,350,000 1,093,279
Cash proceeds from sale of common stock 2,338,349
Cash proceeds from exercise of warrants 622,763
Cash proceeds from exercise of options 302,400
Cash proceed from sale of warrants 25,000
Payment of debt issuance costs (15,000)
Distributions to non-controlling interest (157,223) (89,085)
Proceeds from note payable 242,000
Repayment of notes payable (2,498,808) (295,000)
Purchase of shares and warrants 349,999
Debt issuance costs (284,070)
Net cash provided by financing activities 21,002,201 775,123
Net increase in cash 8,072,451 926,531
Cash at beginning of year 1,106,624 180,093
Cash at end of year 9,179,075 1,106,624
Cash paid for interest    
Cash paid during the period for interest 1,665,171 80,660
Non-cash investing and financing activitites:    
Issuance of company stock for investment in subsidiary 900,000
Cashless exercise of warrants 49,551
Deemed dividend from warrant price adjustments 1,289,657
Deemed distribution from warrants issued with Series B Preferred Stock 3,500,000
Stock yet to be issued for capitalized costs 40,000
Deemed distribution from down-round provision on unissued shares 194,022
Liability to issue common stock 76,348  
Debt issuance costs for liability to issue shares 219,450
Conversion of convertible note payable and interest for Series B Preferred Stock 607,500
Stock issued for capitalized costs 12,675
Warrants issued in relation to debt 569,147
Common stock issued for conversion of debt 1,119,408
Debt Exchange Agreement 250,000
Right of Use asset 274,437
Right of Use lease liability $ 285,323