Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
OPERATING ACTIVITIES          
Net loss $ (1,951,734) $ (1,432,546) $ (3,884,833) $ (3,126,319) $ (8,300,000)
Adjustments to reconcile net loss to net cash used in operating activities:          
Bad debt expense     18,631 61,834  
Stock-based compensation     801,425 504,076  
Loss on Disposal of Fixed Assets     0 880  
Impairment of intangible asset 0 0 0 8,286  
Depreciation and amortization expense     241,191 295,287  
Amortization of Debt Discount     50,895 0  
Increase (decrease) in cash resulting from changes in:          
Accounts receivable     (268,498) (1,308,619)  
Other current assets     (123,940) (38,087)  
Operating lease assets/liabilities     (6,461) 46,525  
Contracts receivable, long-term     0 471,952  
Other assets     0 3,556  
Accounts payable     (219,401) 1,361,286  
Accrued interest     271,896 (1,242)  
Accrued and deferred personnel compensation     (317,323) 201,819  
Other liabilities - non-current     0 (277,178)  
Other liabilities - current     (9,071) 1,411  
Deferred revenue and customer deposits     (74,191) (97,861)  
Net cash used in operating activities     (3,519,680) (1,892,394) (4,500,000)
INVESTING ACTIVITIES          
Purchases of equipment     (6,993) (78,458)  
Capitalized software development costs     0 (190,699)  
Net cash used in investing activities     (6,993) (269,157)  
FINANCING ACTIVITIES          
Payments on notes payable     (15,947) (436,426)  
Payments on related party notes payable     0 (80,000)  
Proceeds from related party debt     500,000 1,280,000  
Proceeds from conversion of common stock warrants     2,550,552 0  
Proceeds from PIPE funding     849,999 0  
Net cash provided by (used in) financing activities     3,884,604 763,574  
Effect of foreign currency translation on cash flow     (1,895) (10,549)  
Net change in cash     356,036 (1,408,526)  
Cash at beginning of period     735,424 3,282,820 3,282,820
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations, Ending Balance $ 1,091,460 $ 1,874,294 1,091,460 1,874,294 $ 735,424
Supplemental disclosures:          
Lease adoption     0 101,375  
Non cash investing and financing analysis:          
Fair Value of Options issued with related party debt     54,855 0  
Refinancing of debt-related party     0 543,750  
Fixed Asset Contribution by Lessor     0 110,000  
Initial ROU and asset and lease liability     0 1,458,527  
Debt Discount on related party debt     $ 0 $ 119,103