Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Cash Flows (Unaudited)

v3.20.1
Consolidated Statement of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income (loss) $ (2,093,518) $ 229,421
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 359,142 146,624
Amortization of debt discount 124,946
Stock-based compensation expense 4,115,068 80,278
Bad debt 20,632
(Increase) decrease in:    
Accounts receivable (140,723) (215,309)
Inventory (4,960,155) (4,050,616)
Prepaid expenses and other assets (1,823,464) (619,382)
Increase (decrease) in:    
Accounts payable and accrued liabilities 3,173,752 1,205,744
Operating leases 121,636 27,297
Payroll and payroll tax liabilities 706,893 315,133
Customer deposits 1,050,684 181,544
Sales tax payable 221,725 112,751
Net cash provided by (used in) operating activities 751,672 (2,461,569)
Cash flows from investing activities:    
Assets acquired in business combinations (1,750,000) (4,984,075)
Purchase of furniture and equipment (652,187) (430,148)
Purchase of intangibles (359,209) (105,500)
Net cash used in investing activities (2,761,396) (5,519,723)
Cash flows from financing activities:    
Principal payments on long term debt (38,614) (99,560)
Proceeds from the sale of common stock and exercise of warrants, net of expenses 510,119 1,725
Net cash provided by (used in) financing activities 471,505 (97,835)
Net decrease in cash (1,538,219) (8,079,128)
Cash at the beginning of period 12,979,444 14,639,981
Cash at the end of period 11,441,225 6,560,853
Supplemental disclosures of non-cash financing activities:    
Cash paid for interest 7,181 18,833
Common stock issued for accrued payroll 210,200
Common stock issued for prepaid services 96,000
Assets acquired by issuance of common stock 1,203,324 998,751
Right to use assets acquired under operating leases $ 192,614 $ 1,791,307