Cash Flow

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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 $ (1,078,188) $ (1,770,479)
Adjustments to reconcile net loss to cash flows used in operating activities:    
Depreciation and amortization 19,171 2,194
Amortization of discount on royalty obligation 118,554
Bad debt (recoveries) expense (1,000)
Amortization of debt discount 414,441
Amortization of right-of-use asset 23,082
Stock based compensation 117,604 991,065
Common stock issued with loan extension 7,500
Changes in operating assets and liabilities:    
Accounts receivable 750 (2,250)
Other receivable 186,668
Prepaid expenses (1,334,420) (56,643)
Accounts payable and accrued expenses 425,900 84,241
Lease liability (18,534) 382
Deferred revenue (28,645) (58,524)
Deferred revenue-grant 893,050 66,000
Net cash used in operating activities (675,009) (323,073)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment (37,914)
Net cash used in investing activities (37,914)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock 100,000
Net cash provided by financing activities 100,000
Net decrease in cash (675,009) (260,987)
Cash, beginning of the period 2,645,852 279,772
Cash, end of period 1,970,843 18,785
Supplemental disclosures of cash flow information:    
Interest paid 10,000
Taxes paid
Non cash financing activities:    
Record right to use assets upon adoption of ASC 842 25,465
Record lease liability upon adoption of ASC 842 $ 26,226

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