Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
OPERATING ACTIVITIES      
Net loss $ (1,503,977) $ (1,349,226) $ (5,946,012)
Adjustments to reconcile net loss to net cash used in operating activities:      
Bad debt expense   (9,787)  
Amortization of deferred financing costs   4,245  
Stock-based compensation 252,842 337,417  
Amortization of debt discount 7,786    
Loss on disposal of fixed assets 8,722    
Depreciation and amortization expense 96,970 68,746  
Adjustments due to ASC 606 (713,568)    
Increase (decrease) in cash resulting from changes in:      
Accounts receivable 265,936 1,140,079  
Other current assets 4,151 (42,760)  
Other assets 264 225  
Accounts payable 41,690 (59,548)  
Accrued interest 13,915 1,999  
Accrued and deferred personnel compensation 149,156 (93,297)  
Other liabilities - non-current 58,474    
Deferred revenue and customer deposits 166,750 247,289  
Other liabilities - current (185,652) (8,529)  
Net cash provided by (used in) operating activities (1,336,541) 236,853  
INVESTING ACTIVITIES      
Purchases of equipment (18,078) (2,490)  
Cash paid for patent   (6,549)  
Capitalized software development costs (13,948) (246,178)  
Net cash used in investing activities (32,026) (255,217)  
FINANCING ACTIVITIES      
Payments on notes payable (1,902,947)    
Deferred financing costs   (15,000)  
Proceeds from notes payable 1,080,000 53,051  
Proceeds from issuance of common stock, net of issuance costs 2,163,443    
Net cash provided by financing activities 1,340,496 38,051  
Effect of foreign currency translation on cash flow (12,615) (1,152)  
Net change in cash (40,686) 18,535  
Cash at beginning of period 460,059 1,188,485 1,188,485
Cash at end of period 419,373 1,207,020 $ 460,059
Cash paid during period for:      
Interest 57,489 $ 52,960  
Non-cash investing and financing activities:      
Issuance of common stock for cashless exercise $ 2