Cash Flow

v3.20.1
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (747,427) $ (490,735)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 924 3,165
Amortization of intangible assets 36,280 36,281
Amortization of deferred license costs 10,197
Interest income on long-term note receivable (4,863)
Stock-based compensation 38,764 162,493
Changes in operating assets and liabilities:    
Accounts receivable 6,472 (1,210,288)
Contract assets 93,355 247,901
Prepaid expenses and other current assets (71,440) 205,641
Accounts payable and accrued expenses (357,323) (317,983)
Contract liabilities (31,751) 245,594
Net cash used in operating activities (1,026,812) (1,117,931)
Cash flows provided by investing activities:    
Advances in note receivable 400,000
Net cash used in investing activities (400,000)
Cash flows from financing activities:    
Proceeds from long-term note payable 200,000
Settlement of common stock from reverse stock split (122)
Net cash provided by financing activities 199,878
Net decrease in cash and cash equivalents (1,226,934) (1,117,931)
Cash and cash equivalents - beginning of period 1,625,671 1,368,395
Cash and cash equivalents - end of period 398,737 250,464
Supplemental disclosure of non-cash operating activities:    
Non-cash conversion of accrued salary to restricted stock units $ 54,315

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