v3.20.2
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Loss $ (626,610) $ (7,207)
Adjustments to reconcile net loss to net cash provided by/(used in) operating activities:    
Stock based compensation expense 784,821 529,538
Stock based litigation settlement expense 1,285,102
Depreciation and amortization 182,164 169,820
Deferred capital gain - building lease (3,763)
Deferred taxes (145,770) 66,494
Loss/(Gain) on disposal of fixed asset 5,522 (49,740)
Changes in operating assets and liabilities:    
Decrease/(Increase) in accounts receivable 268,619 (1,867,342)
Increase in inventory (1,278,811) (467,706)
(Increase)/Decrease in prepaid expense and other assets (156,316) 44,874
Increase in accounts payable 347,350 76,882
Increase/(Decrease) in accrued payroll and related taxes 333,272 (249,730)
Increase in accrued expense 1,389,588 346,181
Increase/(Decrease) in accrued tax liability 318,618 (72,210)
NET CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES 2,707,549 (1,483,909)
CASH FLOWS FROM INVESTING ACTIVITIES    
Payments for capital expenditures (363,750) (67,079)
Payments for patents (149,523) (136,182)
Proceeds on disposal of fixed asset 217,821
Proceeds from certificate of deposit 1,517,927
NET CASH (USED IN)/PROVIDED BY INVESTING ACTIVITIES (513,273) 1,532,487
CASH FLOWS FROM FINANCING ACTIVITIES    
Line of credit advance 3,500,000
Issuance of equity 26,567,861 24,700
Payment for cancelled shares (2,820)
Finance lease (3,717) (2,069)
NET CASH PROVIDED BY FINANCING ACTIVITIES 30,064,144 19,811
NET INCREASE IN CASH AND CASH EQUIVALENTS 32,258,420 68,389
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 5,870,929 3,738,803
CASH AND CASH EQUIVALENTS, END OF PERIOD 38,129,349 3,807,192
Cash paid during the periods for:    
Interest 13,554 233
Taxes
NON-CASH FINANCING AND INVESTING ACTIVITIES    
Issuance of common stock as compensation $ 120,004 $ 212,898

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