v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2018
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
OPERATING ACTIVITIES            
Net loss   $ (1,584,912) $ (1,279,121) $ (3,089,549) $ (2,628,506) $ (5,946,012)
Adjustments to reconcile net loss to net cash used in operating activities:            
Bad debt expense       118 (9,101)  
Loss on conversion of debt $ 41,902     41,902    
Amortization of deferred financing costs         12,237  
Stock-based compensation       407,744 705,840  
Amortization of debt discount        
Loss on disposal of fixed assets       8,722    
Depreciation and amortization expense   98,728 99,458 195,698 168,203  
Adjustments due to ASC 606       (610,206)    
Increase (decrease) in cash resulting from changes in:            
Accounts receivable       142,646 551,557  
Other current assets       (11,996) (37,005)  
Other assets         225  
Accounts payable       (92,157) 96,247  
Accrued interest       114,997 7,146  
Accrued and deferred personnel compensation       141,430 (46,043)  
Other liabilities - non-current       (259,623)    
Other liabilities - current       (15,491) (13,911)  
Deferred revenue and customer deposits       819,339 825,089  
Net cash provided by (used in) operating activities       (2,206,426) (368,022)  
INVESTING ACTIVITIES            
Purchases of equipment       (9,953) (2,489)  
Cash paid for patent         (9,780)  
Capitalized software development costs       (175,614) (294,199)  
Net cash used in investing activities       (185,567) (306,468)  
FINANCING ACTIVITIES            
Payments on notes payable       (2,140,722)    
Deferred financing costs         (15,000)  
Proceeds from notes payable       2,095,000 46,410  
Proceeds from issuance of common stock, net of issuance costs 4,000,000     6,163,443 29,750  
Net cash provided by financing activities       6,117,721 61,160  
Effect of foreign currency translation on cash flow       57,097 (255)  
Net change in cash       3,782,825 (613,585)  
Cash at beginning of period       460,059 1,188,485 1,188,485
Cash at end of period $ 4,242,884 $ 4,242,884 $ 574,900 4,242,884 574,900 $ 460,059
Cash paid during period for:            
Interest       109,635 $ 52,607  
Non cash investing and financing activities:            
Issuance of common stock for cashless exercise       2    
Issuance of common stock for debt conversion       $ 1,047,584    

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