Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash Flows from Operating Activities    
Net Loss $ (5,365,650) $ (4,181,812)
Non-Cash Adjustments    
Depreciation and Amortization 273,622 239,830
Amortization of Software Development Costs in Cost of Sales - Products 0 71,613
Stock-Based Option Compensation Expense 424,700 210,074
Common Stock Issued for Services 83,751 0
Amortization of Term Debt Discount and Deferred Issuance Costs 0 145,645
Gain on Derivative Valuation (28,133) (22,560)
(Increase) Decrease in Operating Assets    
Accounts Receivable (77,165) (217,261)
Accrued Project Revenue 497,784 0
Inventories (424,013) (69,614)
Vendor Prepayments 28,658 (68,111)
Prepaid Expenses and Other Assets 277,615 246,687
Increase (Decrease) in Operating Liabilities    
Accounts Payable (1,978,637) (82,323)
Accrued Expense (211,052) 49,262
Customer Deposits 137,178 42,123
Unearned Revenue (26,100) (211,399)
Income and Other Taxes Payable 19,251 (1,169)
Accrued Compensation (92,000) (25,110)
Accrued Interest (10,787) 40,926
Net Cash Flows Used in Operating Activities (6,470,978) (3,833,199)
Cash Flows from Investing Activities    
Purchases of Fixed Assets (306,739) (262,774)
Investments in Licenses, Patents and Trademarks (64,664) (42,315)
Investments in Software Development (43,750) 0
Net Cash Used in Investing Activities (415,153) (305,089)
Cash Flows from Financing Activities    
Proceeds from Exercise of Warrants 39,375 0
Proceeds from Common Stock Offerings 30,000,000 0
Issuance Costs from Common Stock Offerings (1,975,000) 0
Net Cash Flows Provided by Financing Activities 28,064,375 0
Net Increase (Decrease) in Cash and Cash Equivalents 21,178,244 (4,138,288)
Cash and Cash Equivalents - Beginning of Period 14,889,636 14,533,944
Cash and Cash Equivalents - End of Period 36,067,880 10,395,656
Supplemental Disclosures    
Interest Paid in Cash 19,999 10,690
Conversion of Term Debt and Accrued Interest into Common Stock 0 1,197,341
Receivable from Stock Option Exercise 0 14,820
Cumulative Revenue Adjustment - ASC 606 Adoption $ 81,724 $ 0