Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (561,305) $ (687,681)
Adjustments to reconcile net loss to net cash used in operating activities:    
Lease right-of-use asset 51,591 83,051
Depreciation 25,828 1,559
Amortization of debt discount 16,900
Stock-based compensation 73,603
Changes in operating assets and liabilities:    
Prepaid expenses (2,783) 46,680
Inventory 1,197 (29,834)
Accounts receivable 883
Other current assets 48,086 (74,000)
Accounts payable and accrued expenses 48,828 142,979
Subscription liability 416,667
Lease liability (52,740)
Net cash used in operating activities (7,731) (442,760)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment (59,377) (27,555)
Deposits on machinery and equipment (155,050)
Net cash used in investing activities (59,377) (182,605)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock 815,000
Repayment of convertible notes payable and convertible notes payable related party (102,500) (2,500)
Proceeds from notes payable and notes payable related party 109,541 160,000
Proceeds from convertible notes payable and convertible notes payable related party 50,000 70,000
Repayment of notes payable and notes payable related party (17,244)
Net cash provided by financing activities 39,797 1,042,500
NET (DECREASE) INCREASE IN CASH (27,311) 417,135
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 129,152 121,831
CASH AND CASH EQUIVALENTS AT END OF PERIOD 101,841 538,966
Supplemental cash flow information:    
Cash paid for interest 2,753 2,500
Supplemental disclosure of non cash investing and financing activities:    
Conversion of notes payable into common stock 509,178
Common shares issued to acquire interest in joint venture 502,500
Exchange of notes payable and related interest for common stock $ 1,414,461