v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
OPERATING ACTIVITIES          
Net loss $ 91,306 $ (1,537,472) $ (2,998,242) $ (4,167,156) $ (5,946,012)
Adjustments to reconcile net loss to net cash used in operating activities:          
Bad debt expense     9,878 (7,277)  
Loss on conversion of debt     41,903    
Amortization of deferred financing costs       20,245  
Stock-based compensation     558,254 855,738  
Loss on disposal of fixed assets     8,722    
Depreciation and amortization expense 87,526 105,510 283,224 273,716  
Adjustments due to ASC 606     (1,495,290)    
Increase (decrease) in cash resulting from changes in:          
Accounts receivable     (348,260) (159,958)  
Other current assets     (6,347) (106,813)  
Other assets       10,957  
Accounts payable     27,371 351,089  
Accrued interest     (62,615) 1,040  
Accrued and deferred personnel compensation     (36,340) (252,394)  
Other liabilities - non-current     4,705    
Other liabilities - current     (19,176) (19,787)  
Deferred revenue and customer deposits     1,989,098 1,963,429  
Net cash provided by (used in) operating activities     (2,043,115) (1,237,171)  
INVESTING ACTIVITIES          
Purchases of equipment     (20,306) (4,989)  
Cash paid for patent       (16,810)  
Capitalized software development costs     (356,865) (382,023)  
Net cash used in investing activities     (377,171) (403,822)  
FINANCING ACTIVITIES          
Payments on notes payable     (2,984,472)    
Deferred financing costs       (15,000)  
Net borrowings under line of credit agreement       1,999,531  
Proceeds from notes payable     2,095,000 114,749  
Proceeds from issuance of common stock, net of issuance costs     7,950,343 59,797  
Net cash provided by financing activities     7,060,871 2,159,077  
Effect of foreign currency translation on cash flow     18,918 2,560  
Net change in cash     4,659,503 520,644  
Cash at beginning of period     460,059 1,188,485 1,188,485
Cash at end of period $ 5,119,562 $ 1,709,129 5,119,562 1,709,129 $ 460,059
Cash paid during period for:          
Interest     25,913 115,363  
Non cash investing and financing activities:          
Issuance of common stock for cashless exercise     2    
Issuance of common stock for debt conversion     $ 1,047,584    
Issuance of common stock from restricted stock awards       $ 264  

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