v3.21.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,199,331) $ (4,308,804)
Adjustments to reconcile net loss to net cash used in operating activities:    
Lease right-of-use asset amortization 218,686 175,920
Depreciation 117,340 17,143
Amortization of debt discount 707,533 (22,533)
Gain on extinguishment of debt 56,948
Loss on sale of asset (40,838)
Impairment of fixed assets 1,478
Loss on inventory obsolescence 33,062
Non-cash interest charges (81,806)
Non-cash loan commitment fee 9,250
Deemed dividend 663,501 388,932
Stock-based compensation 165,590 1,701,316
Changes in operating assets and liabilities:    
Prepaid expenses (5,233) 56,537
Inventory (320,165) (102,886)
Accounts receivable (1,907) 883
Subscription liability 40,000
Lease liability (223,290)
Deposits and other current assets 49,263 (127,051)
Accounts payable and accrued expenses (60,658) 32,084
Net cash used in operating activities (2,799,499) (2,259,537)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment (339,586) (766,918)
Deposits on machinery and equipment 200,000
Net cash used in investing activities (339,586) (566,918)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock and exercise of warrants 1,797,068 2,392,828
Repayment of convertible notes payable and convertible notes payable related party (348,000) (104,704)
Proceeds from notes payable and notes payable related party 266,727 234,760
Proceeds from convertible notes payable and convertible notes payable related party 1,620,000 408,000
Repayment of notes payable and notes payable related party (66,357) (97,108)
Net cash provided by financing activities 3,269,438 2,833,776
NET INCREASE IN CASH 130,353 7,321
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 129,152 121,831
CASH AND CASH EQUIVALENTS AT END OF PERIOD 259,505 129,152
Supplemental cash flow information:    
Cash paid for interest expense 35,723 31,237
Supplemental disclosure of non cash investing and financing activities:    
Return of loan commitment shares (130,000)
Common shares issued for loan commitment fees 137,900
Conversion of notes payable into common stock 150,000 531,101
Recording of debt discount on convertible notes 685,000
Conversion of convertible notes payable into common stock 1,182,979
Common shares issued to acquire interest in joint venture 502,500
Exchange of notes payable and related interest for common stock $ 165,852

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