XML 23 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (4,728,049) $ (1,885,510)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 61,888 103,167
Fair value of options in exchange for services 642,774 399,828
Fair value of restricted stock awards issued in exchange for services 240,950 168,654
Fair value of warrants in exchange for services 53,835
Loss on Extinguishment of Debt 280,504
Amortization of debt discount 1,992,000 8,696
Common stock issued for interest expense 60,802
Change in Fair Value of Embedded Derivative 36,109
Amortization and depreciation 69,706 17,297
Changes in operating assets and liabilities:    
Accounts Receivable (21,954) (21,042)
Deposits on Equipment (163,090)
Inventory (18,189) 4,020
Prepaid expenses and other current assets (50,000) (4,200)
Accounts payable and accrued expenses 120,498 (19,048)
Net cash used in operating activities (1,295,235) (1,355,119)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of Patents (51,988) (36,953)
Purchase of Equipment for lease (22,578)
Capitalized Software Costs (71,425)
Net cash used in investing activities (74,566) (108,378)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from public offering of securities, net of costs 9,023,046
Proceeds from issuance of notes payable 72,400  
Repayment of bridge financing and early redemption fee (750,000)
Proceeds from convertible debt, net of costs 1,747,203 461,307
Net cash provided by financing activities 10,092,649 461,307
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 8,722,848 (1,002,190)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 252,766 1,673,201
CASH AND CASH EQUIVALENTS - END OF PERIOD 8,975,614 671,011
Cash paid during the period for:    
Interest 1,250
Income taxes
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Series A Convertible Preferred Stock converted to common stock 122
Common Stock issued in relation to conversion of 2020 Debentures and warrant cancellation 1,992,000
Relative fair value of common stock issued in connection with 2020 Debentures 34,412
Relative fair value of warrants issued in connection with 2020 Debentures 1,063,239
Recognition of embedded derivative liability 171,425
Beneficial conversion feature in connection with 2020 Debentures 649,552
Common stock issued in relation to Convertible Debt 70,100
Common stock cancelled 19
Cashless Exercise of Warrants 2
Common stock issued to settle accrued payroll $ 119,041