General form of registration statement for all companies including face-amount certificate companies

Consolidated Statements of Cash Flows

v3.20.1
Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Dec. 31, 2018
Operating Activities:        
Net loss $ (1,946,000) $ (3,008,000) $ (15,918,000) $ (12,127,000)
Adjustments to reconcile net loss to net cash used in operating activities:        
Fair value of common shares issued for services and vested stock options 943,000 851,000 4,178,000 3,415,000
Financing costs 84,000 1,625,000 798,000
Amortization of debt discount 137,000 1,054,000 1,658,000 1,468,000
Change in fair value of derivative liability (2,092,000) (944,000) (1,862,000) 1,167,000
Debt extinguishment costs, net     (1,536,000) 534,000
Depreciation and amortization 363,000 4,000 1,042,000 20,000
Amortization of right-of-use assets 135,000 349,000
Allowance for Inventory reserve (2,000) (14,000)
Allowance for doubtful account 50,000 199,000
Effect of changes in assets and liabilities:        
Accounts receivable 9,000 (6,000) (380,000) (1,000)
Prepaid expenses (12,000) (129,000) (11,000) (42,000)
Inventory 30,000 127,000
Other assets (45,000) (44,000) (41,000) 2,000
Accounts payable, accrued expenses, and accrued interest 255,000 1,047,000 2,123,000 609,000
Operating lease liability (47,000) (220,000)
Deferred revenue and Customer deposits (44,000) 2,000 (428,000)
Deferred incentive compensation     1,042,000
Deferred revenue     (51,000)
Net cash used in operating activities (2,266,000) (1,089,000) (8,118,000) (4,157,000)
Investing Activities:        
Acquisition of subsidiary     (15,000,000)
Cash acquired from acquisition of subsidiary     557,000
Purchases of property and equipment (121,000) (146,000)
Net cash used by investing activities (121,000) (14,589,000)
Financing Activities:        
Proceeds from sale of common stock 3,430,000 18,525,000 2,979,000
Proceeds from sale of preferred stock     4,688,000
Proceeds from notes payable 350,000 1,300,000
Advances on future receipts     728,000
Proceeds from convertible note payable 432,000 432,000 1,772,000
Proceeds from exercise of put option     1,000,000
Proceeds from option exercise     34,000
Proceeds from warrant exercise     45,000 22,000
Proceeds from related party note payable     58,000
Payment of convertible notes payable     (2,025,000) (845,000)
Payment of notes payable (411,000)   (630,000)
Payment of related party notes payable 58,000 (58,000)
Payment of advances of future receipts (411,000) (7,000)
Deferred offering costs (326,000) (162,000)
Repurchase common stock     (20,000)
Net cash provided by financing activities 3,019,000 514,000 23,056,000 4,780,000
Net change in cash 632,000 (575,000) 349,000 623,000
Cash - beginning of period 983,000 634,000 634,000 11,000
Cash - end of period 1,615,000 59,000 983,000 634,000
Supplemental disclosures of cash flow information:        
Cash paid for interest 10,000 32,000 146,000 402,000
Cash paid for income taxes     2,000 1,000
Supplemental disclosure of non-cash investing and financing activities:        
Fair value of common stock issued upon acquisition of subsidiary     7,820,000
Conversion of note payable and accrued interest to common stock     1,410,000 3,066,000
Common stock issued to settle accrued officer's salary     582,000
Fair value of derivative liability from issuance of convertible debt, inducement shares and warrant features 388,000 6,561,000 1,694,000
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 $ 128,000 592,000
Offset of deferred offering costs to proceeds received     162,000
Common stock issued to settle accounts payable     10,000
Assets acquired from the acquisition of Verb Direct, LLC     3,364,000  
Liabilities assumed from the acquisition of Verb Direct, LLC     $ 3,221,000