Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES    
Net loss $ (8,259,784) $ (2,918,397)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense 774,312 25,583
Loss on settlement of debt   668,260
Gain on Extinguishment of Debt (891,103)  
Stock-based compensation 997,274 773,938
Loss on disposal of fixed assets 880 8,808
Intangible Asset Impairment 8,286 8,886
Goodwill impairment 85,169  
Depreciation and amortization expense 707,073 696,574
Amortization of debt discount 31,000  
Increase (decrease) in cash resulting from changes in:    
Accounts receivable (365,213) 282,734
Contracts receivable, current   (416,956)
Other current assets 40,133 338,233
Operating lease assets/liabilities (2,575) (33,590)
Contracts receivable, long-term 707,928 (155,485)
Other assets 2,330 14,040
Accounts payable 1,888,498 (1,321,012)
Accrued interest 168,673 204,232
Accrued and deferred personnel compensation 270,590 (20,402)
Other liabilities - non-current (415,766) 91,317
Other liabilities - current (2,876) 257,838
Deferred revenue and customer deposits (229,427) 166,288
Net cash used in operating activities (4,484,598) (1,329,111)
INVESTING ACTIVITIES    
Purchases of equipment (79,219) (13,325)
Cash paid for patent   (17,505)
Capitalized software development costs (299,253) (266,365)
Net cash used in investing activities (378,472) (297,195)
FINANCING ACTIVITIES    
Payments on notes payable (561,528) (473,586)
Payments on related party notes payable (280,000) (60,700)
Proceeds from notes payable   920,990
Proceeds from related party notes payable 3,206,250 700,000
Proceeds from issuance of common stock, net of issuance costs   3,574,775
Net cash provided by financing activities 2,364,722 4,661,479
Effect of foreign currency translation on cash flow (49,048) (25,952)
Net change in cash (2,547,396) 3,009,221
Cash at beginning of period 3,282,820 273,599
Cash at end of period 735,424 3,282,820
Cash paid during period for:    
Interest 68,389 75,464
Taxes   851
Non-cash investing and financing activities:    
Initial ROU asset and lease liability 1,458,527 $ 1,392,208
Debt Discount on Related Party Debt 262,658  
Fixed assets contributed by lessor 110,000  
Refinancing of debt - related party $ 43,750