Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities    
Net Loss $ (5,361,624) $ (6,359,761)
Non-Cash Adjustments    
Depreciation and Amortization 648,541 559,089
Amortization of Software Development Costs in Cost of Sales - Products 25,000 25,000
Stock-Based Compensation 282,201 489,754
Impairment of Patents and Trademarks 57,532  
(Increase) Decrease in Operating Assets    
Accounts Receivable 450,454 572,577
Accrued Project Revenue (160,206)  
Inventories 39,491 (828,424)
Vendor Prepayments (231,979) 368,658
Prepaid Expenses and Other Assets 187,812 437,947
Increase (Decrease) in Operating Liabilities    
Accounts Payable 235,139 (952,497)
Accrued Expenses (330,876) (171,068)
Customer Deposits   (77,747)
Unearned Revenue (42,749) 18,618
Income and Other Taxes Payable 2,513 43,497
Net Cash Flows Used in Operating Activities (4,198,751) (5,874,357)
Cash Flows from Investing Activities    
Purchase of Fixed Assets (221,074) (724,565)
Investments in Patents and Trademarks   (41,475)
Investments in Licenses and Other Intangible Assets (43,608) (537,409)
Net Cash Used in Investing Activities (264,682) (1,303,449)
Net Increase (Decrease) in Cash and Cash Equivalents (4,463,433) (7,177,806)
Cash and Cash Equivalents - Beginning of Period 10,606,091 17,263,643
Cash and Cash Equivalents - End of Period 6,142,658 10,085,837
Supplemental Disclosures    
Investment in Other Intangible Assets included in Accrued Expenses   250,000
Unamortized Common Stock Expense included in Prepaid Expenses 295,725 463,154
Non-Cash Investment in Licenses and Other Intangible Assets 544,889  
Stock-Based Compensation Expense - Expensed less Previously Issued $ 72,236 $ 76,068