Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating Activities:    
Net loss $ (5,351,000) $ (6,723,000)
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 2,087,000 3,457,000
Financing costs 139,000 172,000
Amortization of debt discount 1,601,000 748,000
Change in fair value of derivative liability (518,000) 1,181,000
Debt extinguishment, net (2,227,000) (652,000)
Depreciation and amortization 13,000 10,000
Amortizationof right-of-use assets 62,000
Amortization of intangible assets 495,000
Inventory reserve 7,000
Allowance for doubtful accounts (15,000)
Effect of changes in assets and liabilities:    
Accounts receivable (150,000)
Inventory 44,000
Prepaid expenses (95,000) (7,000)
Other assets (43,000) (8,000)
Accounts payable, accrued expenses, and accrued interest 829,000 (68,000)
Operating lease liability (58,000)
Deferred revenue (84,000)
Customer deposits (296,000)
Net cash used in operating activities (3,535,000) (1,890,000)
Investing Activities:    
Acquisition of subsidiary (15,000,000)
Cash acquired upon acquisition of subsidiary 557,000
Net cash used in investing activities (14,443,000)
Financing Activities:    
Proceeds / (payment) on convertible note payable 432,000 (845,000)
Proceeds from notes payable 1,000,000
Proceeds from related party note payable 58,000
Proceeds from sale of common stock 18,614,000 2,979,000
Proceeds from exercise of put option 1,000,000
Proceeds from option exercise 34,000
Proceeds from warrant exercise 45,000 22,000
Payment of convertible notes payable (2,025,000) 130,000
Payment of notes payable (310,000)
Payment of related party notes payable (58,000)
Repurchase common stock (20,000)
Net cash provided by financing activities 17,756,000 3,300,000
Net change in cash (222,000) 1,410,000
Cash - beginning of period 634,000 11,000
Cash - end of period 412,000 1,421,000
Supplemental disclosures of cash flow information:    
Cash paid for interest 64,000 314,000
Cash paid for income taxes 800
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 410,000 2,277,000
Fair value of derivative liability from issuance of convertible debt, inducement shares and warrant features 388,000 302,000
Fair value of warrants issued and beneficial conversion feature to extinguish debt 723,000
Fair value of common shares, warrants and beneficial conversion feature of issued convertible note 182,000
Common stock issued to settle accounts payable 10,000 582,000
Derecognition of deferred offering costs $ 161,000