XML 16 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (5,460,610) $ (733,671)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 83,989 80,756
Equity compensation 5,294,375 189,752
Change in provision for doubtful accounts (37,500)
Forgiveness of unsecured promissory note (10,000)
Changes in assets and liabilities:    
(Increase) decrease in accounts receivable (1,251,873) 230,285
(Increase) in inventory (374,898)
(Increase) in other current assets (491,501) (159,797)
(Increase) decrease in other assets (4,250) 7,778
Increase in accounts payable and accrued expenses 1,042,150 170,524
Increase (decrease) in deferred revenue 134,482 (47,940)
Net cash used in operating activities (1,075,636) (262,313)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of software license (100,000)
Capital expenditures (182,078) (32,114)
Collection of note receivable 21,699
Net cash used in investing activities (182,078) (110,415)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Return of repayment on unsecured promissory note 10,000
Net proceeds from issuance of common stock 10,569,467
Loan proceeds on unsecured promissory note 806,100
Net proceeds from issuance of common stock from exercise of stock options 46,470 139,258
Proceeds from issuance of common stock from exercise of warrants 19,800 110,000
Withholding taxes paid on vesting of restricted stock units (13,335)
Net cash provided by financing activities 76,270 11,611,490
Net (decrease) increase in cash (1,181,444) 11,238,762
CASH, beginning of period 13,121,392 3,350,853
CASH, end of period 11,939,948 14,589,615
Supplemental disclosure of noncash investing and financing activities:    
Note payable for software license 300,000
Reclassification of stock option awards 1,411,108
Settlement of executive bonuses with restricted stock units $ 53,460