Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.19.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities:    
Net loss $ (5,073,755) $ (2,542,582)
Adjustments to reconcile net (loss) to net cash used in operating activities:    
Depreciation and amortization 351,069 151,561
Provision for doubtful accounts receivable 35,459 50,000
Inventory valuation reserve 153,397 73,648
Amortization of debt discount 989,601
Stock based compensation 1,895,219 1,077,932
(Increase) decrease in:    
Accounts receivable (244,288) (312,333)
Inventory (792,575) (2,084,551)
Prepaid expenses and other assets (182,616) (551,718)
Increase (decrease) in:    
Accounts payable and accrued liabilities 514,154 494,093
Customer deposits 423,688 40,678
Payroll and payroll tax liabilities 270,878 170,819
Sales taxes payable 118,738 26,278
Net Cash (Used In) Operating Activities (1,541,031) (3,406,175)
Cash Flows from Investing Activities:    
Assets acquired in business combinations (5,680,409)
Purchase of furniture and equipment (625,379) (775,101)
Purchase of goodwill and other intangibles (61,523) (403,907)
Net Cash (Used In) Investing Activities (6,367,311) (1,179,008)
Cash Flows from Financing Activities:    
Principal payments on long term debt (454,979) (56,259)
Proceeds from issuance of convertible debt, net of expenses 8,912,765  
Proceeds from the sales of common stock and exercise of warrants and options, net of expenses 12,875,272 5,250,063
Net Cash Provided by Financing Activities 21,333,058 5,193,804
Net Increase in Cash and Cash Equivalents 13,424,716 608,621
Cash and Cash Equivalents at Beginning of Period 1,215,265 606,644
Cash and Cash Equivalents at End of Period 14,639,981 1,215,265
Supplemental Information:    
Common stock and warrants issued for prepaid services 45,000 416,886
Acquisition of vehicles with debt financing 56,174 84,968
Insurance premium financing 30,366
Interest paid during the period 23,565 15,339
Acquisition of assets with seller financing $ 1,087,000