v3.20.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
OPERATING ACTIVITIES    
Net Loss $ (2,493,223) $ (3,077,603)
Noncash Expenses:    
Depreciation and Amortization 35,983 97,586
Stock Based Compensation 424,989 474,566
Securities Issued for Third Party Services 54,924
Change in assets and liabilities:    
Accounts Receivable (230,865) 818
Interest Receivable 27,038
Inventory 13,078 (330,340)
Prepaid Assets 81,695 (1,463)
Accounts Payable (431,893) 150,567
Deferred Revenue (39,860) 27,275
Accrued Expenses 149,785 (105,678)
NET CASH USED IN OPERATING ACTIVITIES (2,435,387) (2,737,650)
INVESTING ACTIVITIES    
Purchase of Property and Equipment (11,474) (23,796)
Purchase of Intangible Assets (87,736) (107,124)
Payment Received from Notes Receivable 15,000
Dissolution of Joint Venture 500
NET CASH USED IN INVESTING ACTIVITIES (98,710) (115,920)
FINANCING ACTIVITIES    
Gross Proceeds from Public and Private Issuances of Securities 3,600,000 2,521,220
Less Offering Costs (820,228) (326,890)
Payment of Note Payable (50,000)
Proceeds from Exercise of Warrants 2,141,100 75,848
Deferral of Payroll Taxes under the CARES Act 22,072
NET CASH PROVIDED BY FINANCING ACTIVITIES 4,892,944 2,270,178
NET CHANGE IN CASH FOR PERIOD 2,358,847 (583,392)
CASH AT BEGINNING OF PERIOD 86,919 1,279,782
CASH AT END OF PERIOD 2,445,766 696,390
Noncash investing and financing activities disclosure:    
Issuance of Common Shares for Conversion of Preferred Shares and Preferred Dividends 3,417,967
Issuance of Securities for services 62,794 153,000
Interest 9,359 2,514
Income Taxes

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