Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Cash Flows (Unaudited)

v3.19.1
Consolidated Statement of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income (loss) $ 229,421 $ (953,430)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 146,624 45,011
Amortization of debt discount 124,946 317,255
Stock-based compensation expense 80,278 216,200
Noncash operating lease expense 27,297
(Increase) decrease in:    
Accounts receivable (215,309) (91,548)
Inventory (4,050,616) (2,127,430)
Prepaid expenses and other assets (619,382) 54,103
Increase (decrease) in:    
Accounts payable and accrued liabilities 1,205,744 335,298
Payroll and payroll tax liabilities 315,133 15,787
Customer deposits 181,544 364,038
Sales tax payable 112,751 40,176
Net cash used in operating activities (2,461,569) (1,784,540)
Cash flows from investing activities:    
Assets acquired in business combinations (4,984,075)  
Purchase of furniture and equipment (430,148) (53,613)
Purchase of intangibles (105,500) (607,410)
Net cash used in investing activities (5,519,723) (661,023)
Cash flows from financing activities:    
Principal payments on long term debt (99,560) (82,770)
Proceeds from issuance of convertible debt, net of expenses 8,915,573
Proceeds from the sale of common stock and exercise of warrants, net of expenses 1,725 1,160,158
Net cash provided by (used in) financing activities (97,835) 9,992,961
Net increase (decrease) in cash (8,079,128) 7,547,398
Cash at the beginning of period 14,639,981 1,215,265
Cash at the end of period 6,560,853 8,762,663
Supplemental disclosures of non-cash financing activities:    
Cash paid for interest 18,833 8,018
Common stock issued for accrued payroll 210,200 108,420
Common stock issued for prepaid services 96,000
Debt converted to equity 632,353
Warrants issued for debt discount 4,239,000
Acquisition of vehicles with debt financing 29,256
Assets acquired by issuance of common stock 998,751 961,400
Acquisition of assets with seller financing 564,000
Right to use assets acquired under operating leases $ 1,791,307