Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash Flows from Operating Activities:    
Net loss $ (2,542,582) $ (431,244)
Adjustments to reconcile net (loss) to net cash used in operating activities:    
Depreciation and amortization 151,561 52,962
Provision for doubtful accounts receivable 50,000 41,526
Inventory valuation reserve 73,648 (6,000)
Stock based compensation 1,077,932 219,333
(Increase) decrease in:    
Accounts receivable (312,333) (395,208)
Inventory (2,084,551) (1,256,799)
Prepaid expenses and other assets (551,718) (30,566)
Increase (decrease) in:    
Accounts payable and accrued liabilities 494,093 295,532
Customer deposits 40,678 33,262
Payroll and payroll tax liabilities 170,819 33,143
Sales taxes payable 26,278 24,849
Net Cash (Used In) Operating Activities (3,406,175) (1,419,210)
Cash Flows from Investing Activities:    
Purchase of furniture and equipment (775,101) (264,140)
Purchase of goodwill and other intangibles (403,907)
Net Cash (Used In) Investing Activities (1,179,008) (264,140)
Cash Flows from Financing Activities:    
Principal payments on long term debt (56,259) (26,270)
Proceeds from the sales of common stock and exercise of warrants and options, net of expenses 5,250,063 1,616,847
Net Cash Provided by Financing Activities 5,193,804 1,590,577
Net Increase (Decrease) in Cash and Cash Equivalents 608,621 (92,773)
Cash and Cash Equivalents at Beginning of Period 606,644 699,417
Cash and Cash Equivalents at End of Period 1,215,265 606,644
Supplemental Information:    
Common stock and warrants issued for prepaid services 416,886
Acquisition of vehicles with debt financing 84,968
Insurance premium financing 30,366
Interest paid during the period 15,339 5,251
Taxes paid during the period