v3.19.1
Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities    
Net loss $ (13,042,709) $ (7,791,469)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount 6,562,736 1,710,130
Gain on extinguishment of convertible notes payable (1,481,317) (257,629)
Stock-based compensation 1,922,455 878,404
Depreciation and amortization 133,419 139,213
Change in fair value of derivatives (191,656) 26,215
Loss on Impairment 319,635
Changes in operating assets and liabilities:    
Accounts receivable, net 3,159 (11,681)
Inventory 90,908
Prepaid expenses and other current assets (6,762) (11,495)
Security deposit and other assets 700 (700)
Accounts payable (294,122) 545,385
Accrued expenses (210,976) 377,079
Deferred revenue - related party (70,400) 103,400
Total adjustments 6,686,871 3,589,229
Net Cash Used in Operating Activities (6,355,838) (4,202,240)
Cash Flows from Investing Activities    
Collection of receivable for sale of assets 166,250
Issuance of note receivable to related party (160,000)
Receipts from collections of note receivable to related party 160,000
Advances to related party (206,000)
Receipts from repayment of related party advances 216,000
Purchase of property and equipment (12,422) (10,938)
Net Cash (Used in) Provided by Investing Activities (12,422) 165,312
Cash Flows from Financing Activities    
Proceeds from initial public offering, net [1] 7,657,427
Initial public offering costs paid in cash (706,596) (209,964)
Proceeds from issuance of notes payable 275,000
Repayments of notes payable (1,125,000)
Proceeds from issuance of note payable to related party 311,000
Repayments of notes payable - related party (120,864) (174,734)
Proceeds from issuance of notes payable, net of commission 722,500
Proceeds from issuance of convertible notes, net [2] 2,603,750 2,564,400
Proceeds from issuance of redeemable Series B preferred stock and warrant, net [3] 1,292,400
Net Cash Provided by Financing Activities 9,031,217 4,058,102
Net Increase in Cash and Cash Equivalents 2,662,957 21,174
Cash and cash equivalents - Beginning of year 77,688 56,514
Cash and cash equivalents - End of year 2,740,645 77,688
Supplemental Disclosures of Cash Flow Information:    
Cash Paid During the Period For: Interest, net 286,551 105,938
Non-Cash Investing and Financing Activities    
Conversion of convertible note payable - related party and accrued interest into common stock 517,742
Exchange of note payable - related party and accrued interest into common stock 150,553 1,973
Fair value of placement agent warrants issued in connection with preferred stock offering included in derivative liabilities 57,283
Fair value of warrants issued in connection with convertible debt included in derivative liabilities 1,046,763 870,966
Embedded conversion option in convertible debt included in derivative liabilities 1,239,510 2,349,560
Derivative liabilities reclassified to equity 6,059,823
Conversion of convertible notes payable and accrued interest into common stock 5,743,391
Conversion of preferred stock into common stock $ 5,170,755
[1] Net of offering costs paid from escrow of $967,573
[2] Net of cash offering costs of $186,100
[3] Net of cash offering costs of $175,196

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