XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (2,814,934) $ (2,960,794)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation 45,630 23,313
Stock-based compensation 266,270 165,971
Bad debt expense 26,075  
Loss on disposal of asset   202
Amortization of right-of-use assets 76,654 39,059
Other non-cash charges (6,364) (3,139)
Changes in operating assets and liabilities:    
Accounts receivable 272,748 169,642
Inventories (229,740) (86,677)
Prepaid expenses and other current assets (142,240) (426,515)
Other assets (16,079)  
Accounts payable and accrued expenses 294,828 952,339
Operating Lease Liabilities (97,098) 21,040
Deferred revenue 1,650 (2,512)
Other liabilities   (4,637)
Net cash used in operating activities (2,322,600) (2,112,708)
CASH FLOWS FROM INVESTING ACTIVITIES    
Investment in Jiangxi Myomo Medical Assistive Appliance Co. Ltd. (199,000)  
Purchases of equipment (49,879) (44,489)
Net cash used in investing activities (248,879) (44,489)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of warrants   7,288,275
Net cash provided by financing activities   7,288,275
Effect of foreign exchange rate changes on cash (10,392) (1,122)
Net (decrease) increase in cash, cash equivalents and restricted cash (2,581,871) 5,129,956
Cash, cash equivalents and restricted cash, beginning of period 15,524,378 12,241,261
Cash, cash equivalents and restricted cash, end of period 12,942,507 17,371,217
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Right of use assets obtained in exchange for lease liabilities $ 225,665 654,091
Property and equipment included in accounts payable and in accrued expenses and other liabilities   $ 94,298