v3.21.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
OPERATING ACTIVITIES    
Net Loss $ (4,987,185) $ (3,711,236)
Noncash Expenses:    
Depreciation and Amortization 76,502 86,150
Gain on Derivative Liability (1,092,441)
Stock Based Compensation - Employees 893,431 483,208
Stock Based Compensation – Third Party Services 128,809 113,843
Stock Based Compensation - Directors 404,580 131,150
Change in assets and liabilities:    
Accounts Receivable (335,178) (429,527)
Inventory (196,896) 24,178
Prepaid Assets (13,940) 55,669
Accounts Payable 94,220 (544,991)
Deferred Revenue 7,523 (46,606)
Accrued Expenses 233,985 108,022
Deferral of Payroll Taxes under the CARES Act 53,545
NET CASH USED IN OPERATING ACTIVITIES (4,786,590) (3,676,595)
INVESTING ACTIVITIES    
Purchase of Property and Equipment (116,631) (88,074)
Purchase of Intangible Assets (138,141) (161,878)
Dissolution of Joint Venture 500
NET CASH USED IN INVESTING ACTIVITIES (254,772) (249,452)
FINANCING ACTIVITIES    
Gross Proceeds from Public and Private Issuances of Securities 14,869,899 3,600,000
Less Offering Costs (1,600,967) (820,224)
Payment of Note Payable (50,000)
Proceeds from Exercise of Warrants 1,136,010 5,619,900
NET CASH PROVIDED BY FINANCING ACTIVITIES 14,404,942 8,349,676
NET CHANGE IN CASH FOR PERIOD 9,363,580 4,423,629
CASH AT BEGINNING OF PERIOD 3,700,814 86,919
CASH AT END OF PERIOD 13,064,394 4,510,548
Noncash investing and financing activities disclosure:    
Issuance of Common Shares for Preferred Dividends 89,347 1,744,471
Issuance of Securities for Services 533,387 244,993
Disclosure of cash paid for:    
Interest 5,434 12,741
Income Taxes

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