v3.19.3
Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
OPERATING ACTIVITIES    
Net Loss $ (4,678,397) $ (3,880,505)
Noncash Expenses:    
Depreciation and Amortization 150,222 143,587
Stock Based Compensation 628,768 793,492
Stock Issued for third Party Services 17,110
Loss on Write-off of Asset 36,733
Change in assets and liabilities:    
Accounts Receivable (42,403) (7,501)
Interest Receivable 1,391 36,154
Inventory (472,501) (21,280)
Prepaid Assets (179,191) (25,486)
Accounts Payable 205,571 169,520
Deferred Revenue 48,345 18,550
Accrued Expenses (177,494) 40,797
NET CASH USED IN OPERATING ACTIVITIES (4,498,579) (2,695,939)
INVESTING ACTIVITIES    
Purchase of Property and Equipment (33,487) (55,147)
Purchase of Intangible Assets (157,922) (107,152)
Payment Received from Notes Receivable 120,522 632,197
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (70,887) 469,898
FINANCING ACTIVITIES    
Gross Proceeds from issuance of Common Stock and Warrants 4,981,220 2,040,100
Less Offering Costs (655,954) (443,700)
Dividend on Preferred   (7,486)
Proceeds from exercise of Warrants 75,848
NET CASH PROVIDED BY FINANCING ACTIVITIES 4,401,114 2,938,914
NET CHANGE IN CASH FOR PERIOD (168,352) 712,873
CASH AT BEGINNING OF PERIOD 1,279,782 1,515,674
CASH AT END OF PERIOD 1,111,430 2,228,547
Noncash investing and financing activities disclosure:    
Conversion of Convertible Debt for Stock (50,000)
Common Stock issued for conversion of Series B Preferred 1,100
Common Stock issued for cashless exchange of Warrants 5
Other noncash operating activities disclosure:    
Issuance of Common Stock for services 245,111 223,774
Disclosure of cash paid for:    
Interest 2,514 12,205
Income Taxes
Series B Preferred Stock & Warrants [Member]    
FINANCING ACTIVITIES    
Preferred Stock 1,000,000
Series C Preferred Stock & Warrants [Member]    
FINANCING ACTIVITIES    
Preferred Stock $ 350,000

Source