XML 41 R7.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net loss $ (6,195,557) $ (6,271,723)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 65,902 50,765
Stock based compensation 1,088,386 1,332,388
Accretion of notes payable discount 91,428
Gain on disposition of assets 850
Allowance for doubtful accounts 11,000
Loss on equity method investment 232,881 38,764
Changes in assets and liabilities:    
Increase (decrease) deferred income 1,323 (194,338)
Decrease (increase) in prepaid and other assets (292,463) 900,666
Increase in accounts receivable (121,462) (13,420)
Increase in inventory (179,015) (9,085)
Increase (decrease) in accounts payable and accrued expenses (226,664) 85,947
Net cash used in operating activities (5,525,091) (4,080,036)
Cash flows from investing activities:    
Purchase of property and equipment (113,246) (41,336)
Investment in joint venture (322,000) (339,000)
Net cash used by investing activities (435,246) (380,336)
Cash flows from financing activities:    
Proceeds from sale of common stock 5,496,002 30,000
Proceed from sale of preferred stock 1,000,000
Proceeds from debt financing 2,000,000
Offering costs (592,764) (153,845)
Net cash provided by financing activities 5,903,238 1,876,155
Net increase (decrease) in cash (57,099) (2,584,217)
Cash and cash equivalents beginning of period 950,237 3,534,454
Cash and cash equivalents end of period 893,138 950,237
Supplemental disclosure of cash flow information:    
Interest paid 15,000 71,000
Income taxes paid
Schedule of non-cash (investing) and financing activities:    
Warrants issued for services 379,487
Conversion of preferred stock to common 440,000
Conversion of debt for preferred stock $ 2,000,000