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, 2021
Sep. 30, 2020
Cash Flows from Operating Activities    
Net Loss $ (23,364,886) $ (14,361,100)
Non-Cash Adjustments    
Depreciation and Amortization 1,453,367 1,923,922
Amortization of Software Development Costs in Cost of Sales - Products 180,296 137,496
Stock-Based Compensation 7,311,278 2,019,006
Impairment of Patents and Trademarks 66,040 73,532
Loss on Fixed Asset Disposal 83,908  
(Increase) Decrease in Operating Assets    
Accounts Receivable 330,092 160,287
Accrued Project Revenue   (81,714)
Inventories (3,779,513) (855,613)
Manufacturing Vendor Prepayments (1,417,100) 71,536
Prepaid Expenses and Other Assets (238,066) (105,686)
Increase (Decrease) in Operating Liabilities    
Accounts Payable (34,346) (153,682)
Accrued Expenses 602,293 (11,790)
Unearned Revenue (26,901) (90,215)
Income and Other Taxes (75,890) 14,144
Net Cash Flows Used in Operating Activities (18,909,428) (11,259,877)
Cash Flows from Investing Activities    
Purchase of Fixed Assets (3,592,703) (467,595)
Investments in Patents and Trademarks (442,582) (329,347)
Investments in Licenses, Intangible and Other Assets (305,158) (365,650)
Net Cash Used in Investing Activities (4,340,443) (1,162,592)
Cash Flows from Financing Activities    
Proceeds from Exercise of Warrants 34,705,068  
Proceeds from Exercise of Stock Options 713,703  
Proceeds from Common Stock Offering, Net 91,652,617 25,199,336
Preferred Dividend Settlement Payment (10,000,000)  
Employee Tax Withholdings Payment (1,144,364)  
Proceeds from Term Note   1,555,900
Net Cash Flows Provided from Financing Activities 115,927,024 26,755,236
Net Increase in Cash and Cash Equivalents 92,677,153 14,332,767
Cash and Cash Equivalents - Beginning of Period 36,069,508 10,606,091
Cash and Cash Equivalents - End of Period 128,746,661 24,938,858
Supplemental Disclosures    
Unamortized Common Stock Expense included in Prepaid Expenses and Other Assets 1,729,646 277,880
Non-Cash Investment in Licenses 1,341,614 380,249
Stock-Based Compensation Expense - Expensed less Previously Issued $ (1,547,536) $ 89,183