Cash Flow

v3.20.4
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Net Cash Provided by (Used in) Operating Activities    
NET LOSS $ (9,105,729) $ (11,510,166)
Adjustments to reconcile Net Loss to net cash used in operating activities:    
Warrants issued for services rendered 2,302,044 759,378
Issuance of warrants and options for services –related party 297,248 2,653,243
Warrants issued for Directors' Fees 1,248,615 192,614
Stocks and warrants issued for financing costs 0 165,432
Amortization of debt issuance costs 0 1,187,817
Amortization of bond discount 0 374,608
Amortization of lease liability 620 0
Changes in assets and liabilities:    
(Increase) in prepaid expenses (6,672) (666)
(Increase) in security deposits (3,000) 0
Increase in accounts payable 187,199 950,002
Increase in deferred revenue - participation agreements 1,836,800 0
Increase in accrued liabilities 654,460 1,520,441
Net Cash Provided by (Used in) Operating Activities (2,588,415) (3,707,297)
Cash Flows from Investing Activities:    
Net Cash Provided by (Used in) Investing Activities 0 0
Net Cash Provided by (Used in) Financing Activities    
Proceeds from (payments of) loans payable, related parties 129,000 32,500
Proceeds of Loan Payable, other 121,700 0
Proceeds from sale of common stock warrants - participation agreements 898,200 0
Proceeds from exercise of common stock warrants 830,400 982,017
Proceeds from sales of common stock 400,866 2,650,000
Net Cash Provided by (Used in) Financing Activities 2,380,166 3,664,517
(Decrease) in Cash (208,249) (42,780)
Cash and Cash Equivalents, at Carrying Value, Beginning Balance 346,111 388,891
Cash and Cash Equivalents, at Carrying Value, Ending Balance 137,862 346,111
Supplemental Cash Flow Information    
Interest Paid, Including Capitalized Interest, Operating and Investing Activities 0 0
Income Taxes Paid $ 0 $ 0

Source