Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2019
Sep. 30, 2021
Mar. 31, 2021
Sep. 30, 2020
Mar. 31, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:                  
Net loss   $ (2,437,836) $ (2,966,892) $ (2,899,338) $ (2,673,608) $ (8,078,768) $ (7,898,566)    
Adjustments to reconcile net loss to net cash used in operating activities:                  
Depreciation and amortization           55,672 51,501    
Loss (gain) on disposal and abandonment of assets           19,962 (1,042)    
Non-cash lease expense           91,456 90,002    
Stock compensation expense           371,637 136,349    
Gain on extinguishment of debt   0   0   (366,000) 0    
Value of stock issued to 401(k) plan for employer matching contributions           76,846 39,834    
Value of stock issued in lieu of cash in payment of director fees           27,500 0    
Value of stock issued in payment of employee bonuses           0 171,522    
Value of stock issued in payment of services           0 70,201    
Changes in operating assets and liabilities:                  
Receivables           (46,005) 781,128    
Inventory           (9,137) 0    
Prepaid expenses and other assets           507,225 1,028,016    
Accounts payable           44,512 3,802    
Accrued and other liabilities           35,161 105,017    
Lease liabilities           (210,434) (185,339)    
Deferred revenue           (9,356) (9,355)    
Net cash used in operating activities           (7,489,729) (5,616,930)    
Cash flows from investing activities:                  
Payments for purchases of equipment   (18,042)   (120,810)   (20,749) (129,216)    
Proceeds from sale of equipment           0 1,042    
Patent and trademark costs           (219,236) (202,078)    
Net cash used in investing activities           (239,985) (330,252)    
Cash flows from financing activities:                  
Proceeds from issuance of preferred stock, including collection of stock subscriptions receivable           12,682,700 4,350,000    
Proceeds from issuance of common stock $ 1,900,000         2,135 4,417,560   $ 1,100,000
Proceeds from note payable           0 366,000    
Principal payments on notes payable           (379,443) (305,955)    
Net cash provided by financing activities           12,235,430 8,622,875    
Net increase in cash and cash equivalents           4,505,716 2,675,693    
Cash and cash equivalents, beginning of period     $ 2,670,495   $ 1,047,159 2,670,495 1,047,159 $ 1,047,159  
Cash and cash equivalents, end of period $ 1,047,159 $ 7,176,211   $ 3,722,852   7,176,211 3,722,852 $ 2,670,495 $ 1,047,159
Preferred Stock Issuance Costs [Member]                  
Cash flows from financing activities:                  
Payment of stock issuance costs           (69,962) (54,730)    
Common Stock Issuance Costs [Member]                  
Cash flows from financing activities:                  
Payment of stock issuance costs           $ 0 $ (150,000)