Statements of Cash Flows - USD ($)
|
9 Months Ended |
Sep. 30, 2020 |
Sep. 30, 2019 |
| Cash flows from operating activities: |
|
|
| Loss from continuing operations |
$ (6,658,498)
|
$ (2,328,138)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation and amortization |
86,368
|
82,913
|
| Write-off of capitalized patents |
18,235
|
0
|
| Stock-based compensation |
434,782
|
156,882
|
| Stock issued for services |
50,000
|
0
|
| Warrant inducement expense |
3,720,866
|
0
|
| Decrease in operating assets: |
|
|
| Accounts receivable |
(28,623)
|
0
|
| Prepayments and other current assets |
127,632
|
204,530
|
| Increase (decrease) in operating liabilities: |
|
|
| Accounts payable |
(116,246)
|
1,337
|
| Accrued expenses |
61,845
|
6,336
|
| Net cash used in operating activities |
(2,303,639)
|
(1,876,140)
|
| Net cash used in operating activities - discontinued operations |
0
|
(557,096)
|
| Cash flows from investing activities: |
|
|
| Purchase of property and equipment |
(12,407)
|
(4,253)
|
| Acquisition of intangible assets |
(35,836)
|
(74,342)
|
| Net cash used in investing activities |
(48,243)
|
(78,595)
|
| Net cash provided by investing activities - discontinued operations |
0
|
23,587
|
| Cash flows from financing activities: |
|
|
| Proceeds from loans |
91,407
|
0
|
| Proceeds from the exercise of warrants |
2,972,018
|
0
|
| Net cash provided by financing activities |
3,063,425
|
0
|
| Net increase (decrease) in cash and cash equivalents - continuing operations |
711,543
|
(1,954,735)
|
| Net decrease in cash and cash equivalents - discontinued operations |
0
|
(533,509)
|
| Cash and cash equivalents at beginning of period |
3,057,682
|
3,258,077
|
| Cash and cash equivalents at end of period |
$ 3,769,225
|
$ 769,833
|