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Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net loss $ (1,160,639) $ (1,900,848)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 62,945 60,413
Amortization of debt discount 136,785 0
Non-cash lease expense 289,839 265,098
Stock based compensation 1,400,182 1,406,699
Change in assets and liabilities:    
Accounts receivable (814,415) 932,080
Prepaid and other current assets 714,181 (874,943)
Accounts payable and accrued expenses (631,078) 113,643
Accrued salaries and wages 87,526 (237,513)
Lease liabilities (292,813) (264,121)
Royalty payable 198,792 (216,350)
Deferred revenue (354,756) (100,800)
Net cash used in operating activities (363,451) (816,642)
Cash flows from investing activities    
Purchase of marketable securities (15,072,325) 0
Purchase of property and equipment 0 (50,887)
Net cash used in investing activities (15,072,325) (50,887)
Cash flows provided by financing activities    
Proceeds from stock option and warrant exercises 616,224 685,101
Net cash provided by financing activities 616,224 685,101
Effect of foreign currency translation on cash 11,489 (295,655)
Net increase (decrease) in cash and cash equivalents (14,808,063) (478,083)
Cash and cash equivalents, beginning of period 48,251,336 30,980,473
Cash and cash equivalents, end of period 33,443,273 30,502,390
Interest paid during the period 583,014 0
Income taxes paid during the period 0 39,000
Supplemental disclosure of non-cash finance transactions    
Right of use assets obtained in exchange for new lease obligations 1,094,259 0
Issuance of restricted stock 19 0
Cashless exercise of options $ 0 $ 2