Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
OPERATING ACTIVITIES          
Net loss $ 39,461 $ (1,915,433) $ (1,701,671) $ (6,328,104) $ (8,821,974)
Adjustments to reconcile net loss to net cash used in operating activities:          
Bad debt expense     27,819 56,360  
Loss on conversion of debt 232,462 232,462  
Stock-based compensation     509,214 824,303  
Loss on disposal of fixed assets & patents     7,416 21,400  
Depreciation and amortization expense     534,972 463,086  
Adjustments due to ASC 606     (325,943) 331,550  
Increase (decrease) in cash resulting from changes in:          
Accounts receivable     (592,951) (228,804)  
Other current assets     419,701 402,518  
Other assets     2,209 (42,408)  
Accounts payable     288,417 1,006,183  
Accrued interest     146,966 92,016  
Accrued and deferred personnel compensation     30,309 (37,123)  
Other liabilities - non-current     (22,621)  
Right to use leases     (11,678)  
Other liabilities - current     (35,089) (506)  
Deferred revenue and customer deposits     199,567 (581,609)  
Net cash used in operating activities     (500,742) (3,811,297)  
INVESTING ACTIVITIES          
Purchases of equipment     (8,044) (8,183)  
Cash paid for patent activities     (8,755) (10,425)  
Capitalized software development costs     (196,997) (861,914)  
Net cash used in investing activities     (213,796) (880,522)  
FINANCING ACTIVITIES          
Payments on notes payable     (337,394) (212,089)  
Proceeds from notes payable     920,722  
Proceeds from related party notes payable, net of repayments     139,300 2,500,000  
Proceeds from issuance of common stock, net of issuance costs     241,700 2,800,000  
Net cash provided by financing activities     964,328 5,087,911  
Effect of foreign currency translation on cash flow     (17,877) 25,322  
Net change in cash     231,913 421,414  
Cash at beginning of period     273,599 554,255 554,255
Cash at end of period $ 505,512 $ 975,669 505,512 975,669 $ 273,599
Supplemental disclosures:          
Cash paid during period for: Interest     60,933 179,351  
Non-cash investing and financing activities:          
Lease adoption     538,740  
Issuance of common stock for debt conversion     $ 2,582,916