Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Cash Flows (Unaudited)

v3.19.2
Consolidated Statement of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income (loss) $ 1,291,421 $ (1,883,389)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 291,132 126,993
Amortization of debt discount 242,096 622,096
Stock-based compensation expense 522,243 553,348
Noncash operating lease expense 82,556
(Increase) decrease in:    
Accounts receivable (557,836) (300,741)
Inventory (3,076,386) (3,503,677)
Prepaid expenses and other assets (1,080,372) 16,507
Increase (decrease) in:    
Accounts payable and accrued liabilities 1,042,640 622,286
Payroll and payroll tax liabilities 227,893 23,832
Customer deposits (79,723) 57,258
Sales tax payable 233,834 144,660
Net cash used in operating activities (860,502) (3,520,827)
Cash flows from investing activities:    
Assets acquired in business combinations (7,631,775)
Purchase of furniture and equipment (1,052,892) (222,367)
Purchase of intangibles (112,050) (859,887)
Net cash used in investing activities (8,796,717) (1,082,254)
Cash flows from financing activities:    
Principal payments on long term debt (228,855) (134,432)
Proceeds from issuance of convertible debt, net of expenses 8,912,765
Proceeds from the sale of common stock and exercise of warrants, net of expenses 13,105,214 12,042,822
Net cash provided by financing activities 12,876,359 20,821,074
Net increase in cash 3,219,491 16,218,074
Cash at the beginning of period 14,639,981 1,215,265
Cash at the end of period 17,859,472 17,433,339
Supplemental disclosures of non-cash financing activities:    
Cash paid for interest 8,690 19,330
Common stock issued for accrued payroll 210,200 108,420
Common stock issued for prepaid services 96,000 45,000
Debt converted to equity 189,217 779,320
Warrants issued for debt discount 4,239,000
Acquisition of vehicles with debt financing 56,174
Assets acquired by issuance of common stock 1,809,631 1,390,550
Acquisition of assets with seller financing 564,000
Right to use assets acquired under operating leases $ 5,543,752