Cash Flow

v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net loss $ (754,104) $ (690,330)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 931 690
Amortization of discount on convertible debentures 165,194
Amortization of intangible assets 147,316 145,875
Interest income on short-term investment (4) (4)
Change in fair value of financial instruments (96,327)
Stock-based compensation 79,989 154,383
Changes in operating assets and liabilities:    
Accounts receivable 1,576,243 126,475
Costs and estimated earnings in excess of billings on uncompleted contracts 59,763 9,083
Prepaid expenses and other current assets (442,192) (133,939)
Inventory 9,445
Intangible assets (28,820)
Accounts payable and accrued expenses (542,879) 192,727
Billings in excess of costs and estimated earnings on uncompleted contracts (509,846) (10,655)
Deferred revenue 43,966
Net cash used in operating activities (384,783) (112,237)
Cash flows from investing activities:    
Purchase of equipment (3,184)
Proceeds from short-term investment 30,037
Net cash provided by investing activities 26,853
Cash flows from financing activities:    
Prepaid expenses on offering costs (129,559)
Net cash used in financing activities (129,559)
Net decrease in cash and cash equivalents (357,930) (241,796)
Cash and cash equivalents - beginning of period 4,870,824 549,100
Cash and cash equivalents - end of period $ 4,512,894 $ 307,304

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