Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.21.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
OPERATING ACTIVITIES    
Net loss $ (2,918,397) $ (8,821,974)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense 25,583 103,284
Loss on conversion of debt 668,260 232,462
Stock-based compensation 773,938 1,163,270
Loss on disposal of fixed assets 8,808  
Intangible Asset Impairment 8,886  
Depreciation and amortization expense 696,574 600,066
Increase (decrease) in cash resulting from changes in:    
Accounts receivable 282,734 (115,288)
Contracts receivable, current (416,956) (51,921)
Other current assets 338,233 569,430
Operating lease assets/liabilities (33,590) 14,887
Contracts receivable, long-term (155,485) 516,431
Other assets 14,040 8,615
Accounts payable (1,321,012) 1,581,238
Accrued interest 204,232 109,041
Accrued and deferred personnel compensation (20,402) (106,098)
Other liabilities - non-current 91,317 (31,028)
Other liabilities - current 257,838 (5,178)
Deferred revenue and customer deposits 166,288 (1,516,832)
Net cash used in operating activities (1,329,111) (5,749,595)
INVESTING ACTIVITIES    
Purchases of equipment (13,325) (12,277)
Cash paid for patent (17,505) (5,025)
Capitalized software development costs (266,365) (539,931)
Net cash used in investing activities (297,195) (557,233)
FINANCING ACTIVITIES    
Payments on notes payable (473,586) (305,345)
Payments on related party notes payable (60,700) 9,308
Proceeds from notes payable 920,990  
Proceeds from related party notes payable 700,000 3,500,000
Proceeds from issuance of common stock, net of issuance costs 3,574,775 2,800,000
Net cash provided by financing activities 4,661,479 6,003,963
Effect of foreign currency translation on cash flow (25,952) 22,209
Net change in cash 3,009,221 (280,656)
Cash at beginning of period 273,599 554,255
Cash at end of period 3,282,820 273,599
Cash paid during period for:    
Interest 75,464 210,581
Taxes 851  
Non cash investing and financing activities:    
Issuance of common stock for cashless exercise
Issuance of common stock for debt settlement $ 1,392,208 2,582,916
Lease adoption   $ 538,740