v3.21.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
OPERATING ACTIVITIES    
Net Loss $ (650,659) $ (1,583,585)
Noncash Expenses:    
Depreciation and Amortization 23,031 18,012
Gain on Derivative Liability (802,285)
Stock Based Compensation Employees 117,477 154,171
Stock Based Compensation - Third Party Services 30,981 39,618
Stock Based Compensation - Directors 61,471
Change in assets and liabilities:    
Accounts Receivable (56,488) (63,885)
Inventory (88,129) 92,915
Prepaid Assets (44,718) 63,006
Accounts Payable 151,500 (243,000)
Deferred Revenue (1,540) (45,330)
Accrued Expenses (26,411) 42,383
Long-term portion of Stock Appreciation Rights 45,184
NET CASH USED IN OPERATING ACTIVITIES (1,240,586) (1,525,696)
INVESTING ACTIVITIES    
Purchase of Property and Equipment (5,350) (11,474)
Purchase of Intangible Assets (16,619) (39,055)
NET CASH USED IN INVESTING ACTIVITIES (21,969) (50,529)
FINANCING ACTIVITIES    
Gross Proceeds from Public and Private Issuances of Securities 14,869,899 2,100,000
Less Offering Costs (1,600,967) (428,876)
Payment of Note Payable (50,000)
Proceeds from Exercise of Warrants 1,136,010 499,200
NET CASH PROVIDED BY FINANCING ACTIVITIES 14,404,942 2,120,324
NET CHANGE IN CASH FOR PERIOD 13,142,387 544,099
CASH AT BEGINNING OF PERIOD 3,700,814 86,919
CASH AT END OF PERIOD 16,843,201 631,018
Noncash investing and financing activities disclosure:    
Issuance of Common Shares for Preferred Dividends 60,908 315,247
Other noncash operating activities disclosure:    
Issuance of Securities for Services 92,452 39,618
Disclosure of cash paid for:    
Interest 1,353 1,458
Income Taxes

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