Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net loss $ (1,220,725) $ (1,640,917)
Adjustments to reconcile net loss to net cash flows from operating activities:    
Depreciation 34,640 31,623
Share-based compensation 152,586 247,464
Expenses paid through the issuance of common stock 77,500
Gain from change in fair value of derivative liabilities (34,443)
Amortization of debt issuance costs and original issue discounts 169,179 136,429
Amortization of lease rights of use, net of accretion in lease liabilities 25,630
Increase (decrease) in cash resulting from changes in:    
Accounts receivable (32,901) 39,306
Inventory, net 47,824 (297,280)
Prepaid expenses and other current assets 14,108 39,556
Other assets 11,899 (19,475)
Accounts payable and accrued expenses (113,937) (500,899)
Lease liabilities (26,289)
Deferred revenue 328,523 (39,546)
Net cash flows from operating activities (609,463) (1,960,682)
Cash flows from investing activities:    
Purchases of property and equipment (20,646)
Net cash flows from investing activities (20,646)
Cash flows from financing activities:    
Proceeds from warrant exercises 205,131
Net cash flows from financing activities 205,131
Net change in cash and cash equivalents (609,463) (1,776,197)
Cash and cash equivalents, beginning of period 3,101,133 9,289,831
Cash and cash equivalents, end of period 2,491,670 7,513,634
Cash paid for:    
Income taxes
Interest 291,032 146,611
NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Operating lease right-of-use assets 480,395  
operating lease liabilities 480,395  
Net book value from loan system $ 155,717 $ 131,201