Cash Flow

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (3,811,437) $ (2,223,333)
Adjustments to reconcile net loss to cash flows used in operating activities:    
Depreciation 5,534 4,748
Amortization of discount on royalty obligation 115,334
Bad debt expense 2,400 12,250
Interest expense paid with common stock 21,000
Amortization of debt discount 764,222 759,587
Amortization of right-of-use asset 15,302
Accretion of lease liability 6,164
Lease non-cash expense 15,251
Stock based compensation 1,801,579 605,210
Changes in operating assets and liabilities:    
Accounts receivable 5,600 (18,300)
Prepaid expenses and other current assets (30,017) 12,071
Accounts payable and accrued expenses (18,381) 25,696
Settlement payable (15,000)
Deferred revenue (117,000) (117,698)
Net cash used in operating activities (1,224,449) (954,769)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment (67,626) (29,563)
Net cash used in investing activities (67,626) (29,563)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock 100,000 150,000
Proceeds from common stock subscription and royalty agreement 6,000,000
Proceeds from common stock subscriptions 1,150,000
Proceeds from notes payable 250,000
Repayment of notes payable (275,000)
Net cash provided by financing activities 5,825,000 1,550,000
Net increase in cash 4,532,925 565,668
Cash, beginning of the period 279,772 11,342
Cash and restricted cash, end of period 4,812,697 577,010
Supplemental disclosures of cash flow information:    
Interest paid 32,000
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
Reclassify fair value of warrant liability upon adoption of ASU 2017-11 $ 175,975

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