Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows from Operating Activities    
Net Loss $ (16,311,854) $ (13,754,038)
Non-Cash Adjustments    
Depreciation and Amortization 946,335 734,175
Amortization of Software Development Costs in Cost of Sales - Products 75,000 214,838
Stock-Based Compensation Expense 1,473,383 912,102
Common Stock Awards Compensation Expense 216,744 83,750
Common Stock Issued for Services 50,000 100,000
Loss on Disposal of Fixed Assets 56,836 585
Amortization of Term Debt Discounts and Deferred Issuance Costs 0 175,260
Loss (Gain) on Derivative Valuation 13,873 (50,598)
Impairment of Software Development Cost 196,223 0
(Gain) Loss on Inventory Revaluation and Product Discontinuance (211,416) 1,151,482
(Increase) Decrease in Operating Assets    
Accounts Receivable (73,487) (367,170)
Accrued Project Revenue 497,784 (687,001)
Inventories (2,950,276) (1,342,855)
Vendor Prepayments (358,997) 26,644
Prepaid Expenses and Other Assets 159,351 285,980
Increase (Decrease) in Operating Liabilities    
Accounts Payable (1,718,578) 734,478
Accrued Expenses (66,371) 253,398
Customer Deposits 242,998 (2,573)
Unearned Revenue 88,945 (392,242)
Income and Other Taxes Payable 26,779 (5,626)
Accrued Compensation (327,469) (240,110)
Accrued Interest 39,687 77,537
Net Cash Flows Used in Operating Activities (17,934,510) (12,091,984)
Cash Flows from Investing Activities    
Purchase of Fixed Assets (886,713) (1,197,452)
Investments in Licenses, Patents and Trademarks (323,347) (155,284)
Investments in Other Assets (250,000) 0
Investments in Software Development (87,500) (329,204)
Net Cash Used in Investing Activities (1,547,560) (1,681,940)
Cash Flows from Financing Activities    
Proceeds from Exercise of Warrants 39,375 0
Proceeds from Common Stock Offerings 30,000,000 8,567,500
Issuance Costs on Common Stock Offerings (1,975,000) (650,179)
Net Cash Flows from Financing Activities 28,064,375 7,917,321
Net Increase (Decrease) in Cash and Cash Equivalents 8,582,305 (5,856,603)
Cash and Cash Equivalents - Beginning of Period 14,889,636 14,533,944
Cash and Cash Equivalents - End of Period 23,471,941 8,677,341
Supplemental Disclosures    
Interest Paid in Cash 104,105 310
Conversion of Term Debt and Accrued Interest into Common Stock 0 1,861,283
Subscription Receivable from Officer 0 61,000
Reclassification of Derivative Liability Upon Exercise of Warrants 166,800 0
Unamortized Stock Compensation Expense included in Prepaid Expenses 740,000 301,250
Cumulative Revenue Adjustment - ASC 606 Adoption 81,724 0
Accrued Stock-Based Compensation Expense - Not Vested $ 313,129 $ 0