CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
|
3 Months Ended |
Mar. 31, 2018 |
Mar. 31, 2017 |
| Cash Flow from Operating Activities |
|
|
| Net (loss) income |
$ (1,577,305)
|
$ 539,441
|
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
39,631
|
51,467
|
| Amortization of debt issuance costs |
37,579
|
0
|
| Non-cash stock-based compensation |
1,721,250
|
0
|
| Changes in assets and liabilities: |
|
|
| Accounts receivable |
(448,512)
|
(454,715)
|
| Inventory |
16,485
|
26,063
|
| Prepaid expenses and other current assets |
(17,332)
|
2,468
|
| Accounts payable |
491,236
|
246,531
|
| Accrued expenses and other current liabilities |
104,541
|
(11,085)
|
| Due to/from related party |
(127,689)
|
(119,910)
|
| Net Cash Provided by Operating Activities |
239,884
|
280,260
|
| Cash Flows from Investing Activities |
|
|
| Purchases of property and equipment |
(16,403)
|
(23,582)
|
| Net Cash Used in Investing Activities |
(16,403)
|
(23,582)
|
| Cash Flows from Financing Activities |
|
|
| Net borrowings under notes payable |
645,000
|
0
|
| Net repayments under notes payable - related parties |
(28,243)
|
0
|
| Net repayments under notes payable |
(44,444)
|
|
| Deferred offering costs |
(205,560)
|
0
|
| Dividends paid |
0
|
(358,614)
|
| Net Cash Provided by (Used in) Financing Activities |
366,753
|
(358,614)
|
| Net Increase (Decrease) in Cash and Cash Equivalents |
590,234
|
(101,936)
|
| Cash and Cash Equivalents - Beginning of Year |
557,268
|
2,534,753
|
| Cash and Cash Equivalents - End of Year |
1,147,502
|
2,432,817
|
| Supplemental Disclosures of Cash Flow Information |
|
|
| Interest |
34,757
|
0
|
| Income taxes |
$ 0
|
$ 0
|