Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities:    
Net loss $ (1,946,000) $ (3,008,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Fair value of common shares issued for services and vested stock options and warrants 943,000 851,000
Financing costs 84,000
Amortization of debt discount 137,000 1,054,000
Change in fair value of derivative liability (2,092,000) (944,000)
Depreciation and amortization 363,000 4,000
Amortization of right-of-use assets 135,000
Allowance for inventory (2,000)
Allowance for doubtful account 50,000
Effect of changes in assets and liabilities:    
Accounts receivable 9,000 (6,000)
Prepaid expenses (12,000) (129,000)
Inventory 30,000
Other assets (45,000) (44,000)
Accounts payable, accrued expenses, and accrued interest 255,000 1,047,000
Operating lease liability (47,000)
Deferred revenue and customer deposits (44,000) 2,000
Net cash used in operating activities (2,266,000) (1,089,000)
Investing Activities:    
Purchase of property and equipment (121,000)
Net cash used by investing activities (121,000)
Financing Activities:    
Proceeds from sale of common stock 3,430,000
Proceeds from notes payable 350,000
Proceeds from convertible note payable 432,000
Payment of related party notes payable 58,000
Payment of advances of future receipts (411,000)
Deferred offering costs (326,000)
Net cash provided by financing activities 3,019,000 514,000
Net change in cash 632,000 (575,000)
Cash - beginning of period 983,000 634,000
Cash - end of period 1,615,000 59,000
Supplemental disclosures of cash flow information:    
Cash paid for interest 10,000 32,000
Supplemental disclosure of non-cash investing and financing activities:    
Fair value of derivative liability from issuance of convertible debt, inducement shares and warrant features 388,000
Fair value of derivative liability from issuance of warrants to Series A stockholders considered as a deemed dividend 3,951,000
Fair value of common shares, warrants and beneficial conversion feature of issued convertible note $ 128,000