XML 33 R6.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,079,683) $ (797,215)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 65,362 18,453
Issuance of employee and director stock options 0 6,397
Stock-based compensation 110,593 22,192
Shares issued for professional services 400,600 0
Warrants issued with convertible promissory note 0 9,082
Accretion for debt discounts, warrants and issuance cost 0 25,000
Changes in assets and liabilities:    
Accounts receivable 163 18,631
Inventories 12,836 (1,228)
Prepaid expenses and other assets (76,986) (10,228)
Deferred Revenue (1,927) 0
Accounts payable (228,327) 349,729
Accrued liabilities (17,513) (67,709)
Accrued interest 28,744 106,315
Accrued payroll liabilities 8,000 (8,297)
Net cash used in operating activities (1,778,138) (328,878)
CASH FLOW FROM INVESTING ACTIVITIES:    
Purchases of fixed assets 0 (12,775)
Cash received in reverse merger 256,255 0
Payments of liabilities assumed in reverse merger (891,474) 0
Acquisition of Agribotix (925,000) (75,000)
Net cash used in investing activities (1,560,219) (87,775)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the issuance of convertible notes payable 0 335,005
Proceeds from the issuance of promissory note - related party 0 101,050
Payments of the principle on note payable (84,559) 0
Shares repurchased from shareholder 210,643 0
Proceeds from the issuance of Common Stock and Series C convertible preferred stock in connection with merger, net of $20,000 in fees 3,980,000 0
Proceeds from the sale of Series C convertible preferred stock 250,000 0
Proceeds from the issuance of Common Stock Series D 1,970,000 0
Net cash provided by financing activities 5,904,798 436,055
Net increase in cash 2,566,441 19,402
Cash at beginning of period 35,289 15,887
Cash at end of period 2,601,730 35,289
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest cash paid 39,313 0
Income taxes paid 0 0
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Assets acquired and (liabilities assumed) in reverse merger cash 256,255 0
Assets acquired and (liabilities assumed) in reverse merger accounts payable (891,474) 0
Promissory note (125,556) 0
Net liabilities assumed (760,775) 0
Conversion of debt into common stock 1,503,801 0
Conversion of Series B and C preferred stock into common stock 613 0
Issuance of common stock as consideration 3,000,000 0
Cash paid in the prior year 75,000 0
Deferred revenue 6,819 0
Inventory (3,685) 0
Fixed assets (7,650) 0
Intangible assets (724,500) 0
Goodwill (3,270,984) 0
Cash paid for acquisition $ (925,000) $ 0