XML 33 R6.htm IDEA: XBRL DOCUMENT v3.20.1
Unaudited Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Statement of Cash Flows [Abstract]    
Net loss $ (6,163,461) $ (1,830,580)
Adjustments to reconcile net loss to net cash (used for) provided by operating activities:    
Depreciation 35,629 38,476
Amortization of software development costs and other intangible assets 465,640 397,748
Impairment of intangible assets 4,300,000 0
Loss on disposal of equipment 0 (515)
Provision for (recovery of) losses on accounts receivable 33,305 (29,940)
Stock-based compensation, net 129,571 151,214
Fair value of stock issued for payment of services 31,250 37,498
Gain on settlement of acquisition costs payable 0 (191,439)
Non-cash financing and investing activities: 0 1,076,022
Changes in operating assets and liabilities:    
Accounts receivable 1,585,843 1,035,594
Prepaid expenses and other current assets (15,135) 133,594
Accounts payable (1,121,745) (369,100)
Accrued expenses 215,375 655,823
Contract liabilities (869,287) 506,974
Right-of-use asset (24,024) 33,026
Net cash (used for) provided by operating activities (1,348,991) 885,199
Cash flows from investing activities: [Abstract]    
Purchase of equipment 0 (2,383)
Software development costs (51,004) (346,789)
Security deposits 619 2,987
Net cash used for investing activities (50,385) (346,185)
Cash flows from financing activities: [Abstract]    
Net proceeds from (repayments on) line of credit 1,162,924 (190,041)
Payments on finance obligation (11,410) 0
Stock issuance costs 2,326 2,190
Net cash provided by (used for) financing activities 1,149,188 (192,231)
Net (decrease) increase in cash and cash equivalents (250,188) 346,783
Cash and cash equivalents, beginning of year 5,884,629 1,968,403
Cash and cash equivalents, end of period 5,634,441 2,315,186
Supplemental cash flow information: [Abstract]    
Interest paid 1,368 125,194
Non-cash financing and investing activities:    
Equipment acquired with financing arrangement 43,003 0
Fair value of common stock issued for future services, net $ 125,000 $ 192,550