XML 19 R7.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities    
Net loss $ (6,280,066) $ (2,482,605)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization expense 159,461 159,461
Bad debt expense 16,963 11,250
Gain on forgiveness of debt (24,925) 0
Equity based compensation expense 502,407 870,722
Recognized loss (gain) on marketable securities (223) 18,786
Loan principal paid directly through grant (2,992) 0
Amortization of debt discount and debt costs 1,309,212 31,976
Initial derivative expense 3,585,983 0
Change in fair value of derivative liability (628,621) 565,088
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (854,522) 9,749
Increase in accounts receivable - related party (3,259) (5,942)
(Increase) decrease in prepaid expenses and other current assets 28,923 (19,954)
Increase in accounts payable and accrued liabilities 643,270 387,823
Increase in accounts payable and accrued liabilities - related parties 136,448 324,073
Increase in other liabilities 0 51,780
Increase (decrease) in deferred revenue 87,845 (15,434)
Net cash used in operating activities (1,324,096) (93,227)
Cash Flows from Investing Activities    
Proceeds from sale of marketable securities 0 14,955
Cash paid for acquisitions, net of cash assumed (249,983) 0
Net cash provided (used) by investing activities (249,983) 14,955
Cash Flows from Financing Activities    
Proceeds from convertible notes 2,153,200 0
Payments of notes (5,767) (4,984)
Advances on receivables 0 180,778
Repayments of sale of future revenues (10,904) (127,241)
Deposit on purchase of preferred stock 0 25,000
Net cash provided by financing activities 2,136,529 73,553
Net increase (decrease) in cash 562,450 (4,719)
Cash, beginning of period 99,906 306,252
Cash, end of period 662,356 301,533
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 63,746 38,721
Cash paid during the period for income taxes 0 0
Supplemental schedule of non-cash investing and financing activities:    
Original issue discount deducted from convertible note proceeds 342,554 0
Debt costs deducted from convertible note proceeds 334,800 0
Contingent consideration for acquisitions 1,974,377 0
Notes and accrued interest converted to common stock 285,939 0
Common stock issued/to be issued for asset acquisition 3,520,171 0
Notes payable and accrued interest exchanged for debentures 252,430 0
Accrued compensation paid with common stock 16,425 0
Warrant derivative liability extinguished 373,070 0
Liabilities assumed in acquisition 108,500 0
Warrant derivative liability at inception 5,960,058 0
Preferred stock issued for accrued penalties $ 0 $ 1,929,516