Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 1 Months Ended 3 Months Ended 12 Months Ended
Jan. 31, 2020
Dec. 31, 2019
Mar. 31, 2021
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:              
Net loss     $ (2,966,892)   $ (2,673,608)    
Adjustments to reconcile net loss to net cash used in operating activities:              
Depreciation and amortization     17,748   16,843    
Non-cash lease expense     30,378   30,223    
Stock compensation expense     121,298   39,246    
Gain on extinguishment of debt     (366,000)      
Value of stock issued to 401(k) plan for employer matching contributions     76,846      
Value of stock issued in payment of employee bonuses       64,511    
Value of stock issued in payment of services       4,801    
Changes in operating assets and liabilities:              
Receivables     (21,414)   860,917    
Inventory     3,556      
Prepaid expenses and other assets     129,970   127,922    
Accounts payable     72,403   342,214    
Accrued and other liabilities     (83,171)   305,375    
Lease liabilities     (77,256)   (69,768)    
Net cash used in operating activities     (3,062,534)   (951,324)    
Cash flows from investing activities:              
Payments for purchases of equipment       (6,460)    
Patent and trademark costs     (67,472)   (57,984)    
Net cash used in investing activities     (67,472)   (64,444)    
Cash flows from financing activities:              
Proceeds from issuance of preferred stock, including stock subscriptions receivable     8,175,000      
Proceeds from issuance of common stock $ 812,000 $ 1,900,000 13 $ 1,700,000 850,000   $ 1,100,000
Principal payments on notes payable     (188,893)   (130,036)    
Net cash provided by financing activities     7,966,830   569,964    
Net increase (decrease) in cash and cash equivalents     4,836,824   (445,804)    
Cash and cash equivalents, beginning of period $ 1,047,159   2,670,495 $ 601,355 1,047,159 $ 1,047,159  
Cash and cash equivalents, end of period   $ 1,047,159 7,507,319   601,355 $ 2,670,495 $ 1,047,159
Preferred Stock Issuance Costs [Member]              
Cash flows from financing activities:              
Payment of stock issuance costs     (19,290)      
Common Stock Issuance Costs [Member]              
Cash flows from financing activities:              
Payment of stock issuance costs       $ (150,000)