v3.20.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
OPERATING ACTIVITIES    
Net Loss $ (1,583,585) $ (1,484,112)
Noncash Expenses:    
Depreciation and Amortization 18,012 48,383
Stock Based Compensation 154,170 254,206
Securities Issued for Third Party Services 39,618
Change in assets and liabilities:    
Accounts Receivable (63,885) (33,150)
Interest Receivable (1,561)
Inventory 92,915 (56,785)
Prepaid Assets 63,006 (25,187)
Accounts Payable (243,000) 288,395
Deferred Revenue (45,330) 29,825
Accrued Expenses 42,383 (86,783)
NET CASH USED IN OPERATING ACTIVITIES (1,525,696) (1,066,769)
INVESTING ACTIVITIES    
Purchase of Property and Equipment (11,474) (1,269)
Purchase of Intangible Assets (39,055) (74,560)
Payment Received from Notes Receivable 15,000
NET CASH USED IN INVESTING ACTIVITIES (50,529) (60,829)
FINANCING ACTIVITIES    
Gross Proceeds from Public and Private Issuances of Securities 2,100,000 1,961,220
Less Offering Costs (428,876) (281,890)
Payment of Note Payable (50,000)
Proceeds from exercise of Warrants 499,200 75,848
NET CASH PROVIDED BY FINANCING ACTIVITIES 2,120,324 1,755,178
NET CHANGE IN CASH FOR PERIOD 544,099 627,580
CASH AT BEGINNING OF PERIOD 86,919 1,279,782
CASH AT END OF PERIOD 631,018 1,907,362
Noncash investing and financing activities disclosure:    
Common Stock Issued for Cashless Exchange of UPOs 88,431
Paid-in-Kind Dividend and Common Stock Issued for Preferred Dividends 315,247
Disclosure of cash paid for:    
Interest 1,458 1,028
Income Taxes

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