Cash Flow

v3.19.3
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net loss $ (6,314,047) $ (4,604,297)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 113,735 160,464
Share-based compensation expense 761,344 570,273
Allowance for bad debt 362,176
Change in fair value of liability classified warrants (416,796) (1,805,319)
Changes in operating assets and liabilities:    
Trade and other receivables 232,903 150,823
Related party receivable 71,638
Prepaid expenses (235,946) (154,271)
ROU and other assets 24,938 (4,000)
Accounts payable and accrued expenses 340,673 (25,487)
Accrued bonuses (418,625)
Other current liabilities (48,110) 26,288
Lease and other long term liabilities (27,618) (1,876)
Net cash used in operating activities (5,206,748) (6,034,389)
Cash flows from investing activities:    
Maturity of short-term investments 5,000,000
Net cash provided by investing activities 5,000,000
Cash flows from financing activities:    
Net proceeds from the sale of our common stock and warrants 6,552,842
Proceeds from warrant exercises 131
Proceeds from short-term note payable 414,320 349,578
Payments of short-term note payable (241,061) (247,817)
Net cash provided by financing activities 6,726,232 101,761
Effects of exchange rates on cash (6,758) (5,383)
Net increase (decrease) in cash and cash equivalents 1,512,726 (938,011)
Cash and cash equivalents, beginning of period 5,787,110 6,674,940
Cash and cash equivalents, end of period 7,299,836 5,736,929
Supplemental disclosure of cash flows information:    
Cash paid for interest $ 4,437 $ 4,190

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