Cash Flow

v3.21.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
CASH FLOW FROM OPERATING ACTIVITIES:    
Net loss $ (8,164,428) $ (5,787,364)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 216,696 173,902
Fair value of shares issued to employees and officer 1,398,921 2,424,121
Fair value of vested options 290,132 711,404
Fair value of preferred shares issued to officer 465,000
Extinguishment of derivative liabilities (145,565)
Change in fair value of derivatives (101,226) (19,491)
Private placement costs (includes $79,748 recorded as interest expense in 2020) 381,084 238,395
Amortization of convertible note discount 755,538 185,330
Amortization of deferred revenue (33,394) 68,212
Loss on extinguishment of debt 1,230,290
Impairment of operating lease right of use asset 255,093
Amortization of operating lease right-of-use asset 126,193 87,132
Gain on settlement of accounts payable and accrued expenses (16,000)
Accretion of premium 228,576
Changes in operating assets and liabilities:    
Accounts receivable 27,575 (8,699)
Deferred charges-related party (134,704)  
Inventories 103,299 (122,519)
Prepaid expenses 7,500 (7,500)
Security deposits 16,769
Accounts payable and accrued liabilities 749,166 63,981
Operating lease liabilities (82,659)
Net cash used in operating activities (2,118,172) (2,221,320)
CASH FLOW FROM INVESTING ACTIVITIES:    
Purchase of equipment (103,741) (114,500)
Payment of security deposit (16,882)
Net cash used in investment activities (103,741) (131,382)
CASH FLOW FROM FINANCING ACTIVITIES:    
Proceeds from shares issued for cash 125,000 2,090,375
Proceeds from shares to be issued 50,000 530,000
Proceeds from convertibles notes payable 1,098,840 326,800
Proceeds from notes payable 922,000
Principal payments of notes payable (118,800) (124,150)
Principal payment of convertible notes payable (282,000) (73,000)
Net cash provided by financing activities 1,795,040 2,750,025
Increase (decrease) in cash (426,873) 397,323
Cash, beginning of year 433,143 35,820
Cash, end of year 6,270 433,143
Supplemental Disclosures of Cash Flow Information:    
Cash paid for taxes 800
Cash paid for Interest 17,000 15,080
Non-cash investing and financing activities    
Derivative liabilities allocated to convertible note discount 326,800
Original issue discount 43,000 28,200
Fair value of shares issued for loan fee 76,000 54,990
Shares issued for cashless exercise of warrant 2,590
Recognition of right-of-use asset and liability 432,000 410,000
Convertible notes issued for fees 30,000
Recognition of beneficial conversion feature 2,556,602
Shares issued for fee discount 88,000
Derivative allocated to discount 183,000
Issuance of shares to be issued 535,000
Fair value of shares to be issued for loan fee $ 11,280

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