Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Cash Flows (Unaudited)

v3.19.3
Consolidated Statement of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income (loss) $ 2,341,120 $ (2,668,998)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 538,847 230,069
Amortization of debt discount 356,306 858,624
Stock-based compensation expense 1,075,735 920,446
Noncash operating lease expense 137,103
(Increase) decrease in:    
Accounts receivable (1,307,965) (355,674)
Inventory (7,331,270) (1,246,125)
Prepaid expenses and other assets (2,208,060) (69,631)
Increase (decrease) in:    
Accounts payable and accrued liabilities 3,108,049 242,806
Payroll and payroll tax liabilities 327,818 39,231
Customer deposits 411,096 58,498
Sales tax payable 271,357 116,812
Net cash used in operating activities (2,279,864) (1,873,942)
Cash flows from investing activities:    
Assets acquired in business combinations (8,528,698) (5,762,763)
Purchase of furniture and equipment (1,536,508) (454,999)
Purchase of intangibles (112,819) (33,500)
Net cash used in investing activities (10,178,025) (6,251,262)
Cash flows from financing activities:    
Principal payments on long term debt (340,078) (218,740)
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 14,140,667 12,546,672
Net cash provided by financing activities 13,800,589 21,240,697
Net increase in cash 1,342,700 13,115,493
Cash at the beginning of period 14,639,981 1,215,265
Cash at the end of period 15,982,681 14,330,758
Supplemental disclosures of non-cash financing activities:    
Cash paid for interest 35,757 14,535
Common stock issued for accrued payroll 108,420
Common stock issued for prepaid services 96,000
Debt converted to equity 2,310,832 3,195,484
Warrants issued for debt discount 4,239,000
Acquisition of vehicles with debt financing 56,174
Assets acquired by issuance of common stock 3,339,631 5,222,799
Acquisition of assets with seller financing 1,087,000
Right to use assets acquired under operating leases $ 5,801,725