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 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
OPERATING ACTIVITIES          
Net loss $ (983,637) $ 39,461 $ (4,109,956) $ (1,701,671) $ (2,918,397)
Adjustments to reconcile net loss to net cash used in operating activities:          
Bad debt expense     72,773 27,819  
Stock-based compensation     751,878 509,214  
Amortization of Debt Discount     9,833    
Loss on disposal of fixed assets     880 3,935  
Intangible asset impairment     8,286 3,481  
Gain on Forgiveness of Debt     (891,103)    
Depreciation and amortization expense     448,062 534,972  
Increase (decrease) in cash resulting from changes in:          
Accounts receivable     (1,402,518) (592,951)  
Other current assets     99,614 419,701  
Operating lease assets/liabilities     76,414    
Contracts receivable, long-term     707,928 (325,943)  
Other assets     4,475 2,209  
Accounts payable     1,368,027 288,417  
Accrued interest     69,330 146,966  
Accrued and deferred personnel compensation     258,916 30,309  
Right to use leases     (415,767) (11,678)  
Other liabilities - current     (135,273) (35,089)  
Deferred revenue and customer deposits     (111,310) 199,567  
Net cash used in operating activities     (3,189,511) (500,742)  
INVESTING ACTIVITIES          
Purchases of equipment     (78,217) (8,044)  
Cash paid for patent activities       (8,755)  
Capitalized software development costs     (310,546) (196,997)  
Net cash used in investing activities     (388,763) (213,796)  
FINANCING ACTIVITIES          
Payments on notes payable     (490,174) (337,394)  
Payments on related party notes payable     (80,000)    
Proceeds from notes payable       920,722  
Proceeds from related party notes payable     1,456,250 139,300  
Proceeds from conversion of common stock warrants       241,700  
Net cash provided by financing activities     886,076 964,328  
Effect of foreign currency translation on cash flow     (21,726) (17,877)  
Net change in cash     (2,713,924) 231,913  
Cash at beginning of period     3,282,820 273,599 273,599
Cash at end of period $ 568,896 $ 505,512 568,896 505,512 $ 3,282,820
Cash paid during period for:          
Interest     66,237 $ 60,933  
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     $ 124,388