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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Cash flows from operating activities          
Net income (loss) attributable to Net Element, Inc. stockholders $ 1,263,875 $ (324,690) $ 1,568,440 $ (1,691,488) $ (5,900,000)
Adjustments to reconcile net loss to net cash used in operating activities:          
Non-controlling interest (12,764) (13,724) (26,903) (24,953)  
Share based compensation     22,494 45,899  
Deferred revenue     (146,312) (109,414)  
Provision for bad debt     872 (8,668)  
Depreciation and amortization     1,264,562 1,551,844  
Non cash interest     438,151 46,552  
Changes in assets and liabilities:          
Accounts receivable     (3,592,063) 700,506  
Due from Mullen Technologies, Inc.     (1,559,961) 0  
Prepaid expenses and other assets     (58,402) (287,386)  
Accounts payable and accrued expenses     896,151 (538,178)  
Net cash used in operating activities     (1,192,971) (315,286)  
Cash flows from investing activities:          
Client acquisition costs     (333,050) (359,350)  
Purchase of equipment and changes in other assets     (53,588) (35,666)  
Net cash used in investing activities     (386,638) (395,016)  
Cash flows from financing activities:          
Proceeds from SBA Loans     0 651,392  
Proceeds from indebtedness     2,287,339 174,314  
Repayment of indebtedness     (994,959) 0  
Lease liability     (68,253) (64,868)  
Related party advances     2,295 159,432  
Net cash provided by financing activities     1,226,422 920,270  
Effect of exchange rate changes on cash     (61,767) 14,589  
Net (decrease) increase in cash and restricted cash     (414,954) 224,557  
Cash and restricted cash at beginning of period     5,322,011 1,116,255 1,116,255
Cash and restricted cash at end of period $ 4,907,057 $ 1,340,812 4,907,057 1,340,812 $ 5,322,011
Supplemental disclosure of cash flow information          
Interest     281,441 336,120  
Taxes     205,200 0  
Non Cash activities:          
Shares issued for redemption of indebtedness     $ 1,999,980 $ 0