Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOW FROM OPERATING ACTIVITIES:    
Net loss $ (3,084,647) $ (1,359,246)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 17,584 51,729
Fair value of shares issued for services 688,083 426,409
Fair value of vested options 70,994 79,995
Fair value of vested restricted shares 160,179
Fair value of Series B preferred shares issued to officer 1,522,198
Amortization of convertible note discount 24,360 178,660
Amortization of note payable discount 7,050  
Change in fair value of derivative (135,139)
Private placement costs 262,000
Amortization of right-of-use asset 20,383 41,208
Fees paid through conversion of convertible notes 12,983
Changes in operating assets and liabilities:    
Accounts receivable 685 9,104
Accounts receivable, related party (198,800)  
Allowance for doubtful accounts 49,700
Deferred expenses, related party 134,704
Inventories (24,789) (20,975)
Prepaid production costs (100,000) 7,500
Accounts payable and accrued liabilities (55,300) 54,169
Deferred revenue (7,816) (7,808)
Operating lease liabilities (19,667) (38,751)
Net cash used in operating activities (782,116) (451,145)
CASH FLOW FROM INVESTING ACTIVITIES:    
Deposits (30,000)
Purchase of equipment (12,980) (80,272)
Net cash used in investment activities (12,980) (110,272)
CASH FLOW FROM FINANCING ACTIVITIES:    
Proceeds from convertibles notes payable 175,000 153,000
Proceeds from notes payable 10,000
Principal payments of notes payable (96,649) (7,500)
Proceeds from shares issued for cash 1,014,000 30,000
Net cash provided by financing activities 1,102,351 175,500
Increase (decrease) in cash 307,255 (385,917)
Cash and cash equivalents, beginning of period 6,270 433,133
Cash and cash equivalents, end of period 313,525 47,226
Supplemental Disclosures of Cash Flow Information:    
Cash paid for taxes
Cash paid for interest
Non-cash investing and financing activities    
Adjustment for adoption of ASU 2020-06 503,053
Common shares issued for conversion of convertible notes 396,458
Derivative liabilities allocated to convertible note discount 153,000
Recognition of operating lease right-of-use asset and operating lease liabilities $ 431,402