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 ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Loss $ (4,845,268) $ (4,109,846)
Adjustments to reconcile net loss to cash flows used in operating activities:    
Depreciation and amortization 12,079 6,051
Amortization of discount on royalty obligation 237,108
Bad debt expense 2,400 15,750
Interest expense paid with common stock 21,000
Amortization of debt discount 783,650 1,138,239
Amortization of right-of-use asset 50,870
Loss on sale of fixed assets 1,902  
Stock based compensation 1,835,916 1,556,024
Common stock issued with loan extension 12,000
Changes in operating assets and liabilities:    
Accounts receivable 4,000 (1,550)
Prepaid expenses and other current assets (215,543) (5,131)
Accounts payable and accrued expenses 308,233 194,779
deposits (40,370)  
Lease liabilities (48,531)  
Settlement payable (15,000)
Deferred revenue (155,411) (177,522)
Net cash used in operating activities (2,047,965) (1,386,206)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment (67,625) (29,763)
Proceeds from sale of property and equipment 800  
Net cash used in investing activities (66,825) (29,763)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock 100,000 1,300,000
Proceeds from common stock subscription and royalty agreement 6,000,000
Proceeds from common stock subscriptions 100,000
Proceeds from notes payable 250,000
Repayment of notes payable (675,000)
Net cash provided by financing activities 5,425,000 1,650,000
Net increase in cash 3,310,210 234,031
Cash, beginning of the period 279,772 11,342
Cash, end of period 3,589,982 245,373
Supplemental disclosures of cash flow information:    
Interest paid 61,397
Taxes paid
Non cash financing activities:    
Record right to use assets upon adoption of ASC 842 307,414
Record lease liability upon adoption of ASC 842 341,325
Common stock issued in connection of notes payable 4,160,000 25,500
Reclassify fair value of warrant liability upon adoption of ASU 2017-11 $ 175,975