Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
OPERATING ACTIVITIES          
Net loss $ (1,432,546) $ (725,529) $ (3,126,319) $ (1,741,388) $ (2,918,397)
Adjustments to reconcile net loss to net cash used in operating activities:          
Bad debt expense     61,834 118,123  
Adjustments due to ASC 606       (423,330)  
Stock-based compensation     504,076 322,757  
Loss on disposal of fixed assets 880 3,935 880 3,935  
Intangible asset impairment     8,286    
Depreciation and amortization expense     295,287 358,844  
Increase (decrease) in cash resulting from changes in:          
Accounts receivable     (1,308,619) 112,549  
Other current assets     (38,087) 225,192  
Operating lease assets/liabilities     46,525    
Contracts receivable, long-term     471,952    
Other assets     3,556 594  
Accounts payable     1,361,286 497,070  
Accrued interest     (1,242) 98,705  
Accrued and deferred personnel compensation     201,819 (56,065)  
Right to use leases     (277,178) (11,627)  
Other liabilities - current     1,411 (14,020)  
Deferred revenue and customer deposits     (97,861) 341,194  
Net cash used in operating activities     (1,892,394) (167,467)  
INVESTING ACTIVITIES          
Purchases of equipment     (78,458) (4,907)  
Cash paid for patent activities       (8,755)  
Capitalized software development costs     (190,699) (112,681)  
Net cash used in investing activities     (269,157) (126,343)  
FINANCING ACTIVITIES          
Payments on notes payable     (436,426) (222,430)  
Payments on related party notes payable     (80,000)    
Proceeds from notes payable       920,519  
Proceeds from related party notes payable     1,280,000 139,300  
Proceeds from conversion of common stock warrants       234,500  
Net cash provided by (used in) financing activities     763,574 1,071,889  
Effect of foreign currency translation on cash flow     (10,549) (54,968)  
Net change in cash     (1,408,526) 723,111  
Cash at beginning of period     3,282,820 273,599 273,599
Cash at end of period $ 1,874,294 $ 996,710 1,874,294 996,710 $ 3,282,820
Cash paid during period for:          
Interest     101,375 $ 46,572  
Fixed assets contributed by lessor     110,000    
Initial non asset and lease liability     1,458,527    
Refinancing of debt - related party     543,750    
Debt discount on related party debt     $ 119,103