v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (5,738,084) $ (6,293,169)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 23,076 35,103
Amortization of patents 34,060 39,759
Stock compensation 499,276 76,611
Employees paid in stock 748,658 768,463
Expense paid in stock 490,614 644,865
Loss on China joint venture 164,461 0
Non-cash operating lease expense 7,172 30,175
Gain on debt extinguishment-PPP (276,180) 0
Changes in operating assets and liabilities:    
Decrease in accounts receivable 112,549 747,682
Decrease in other assets 0 11,755
Decrease (Increase) inventories 743,647 (609,251)
Increase in advances on contracts (1,095,328) (12,422)
Increase in prepaid expenses and other current assets (98,501) (7,996)
Increase (Decrease) in accounts payable 260,905 (713,331)
Increase (decrease) in accounts payable, related party 35,113 (965,662)
Increase in accrued expenses 510,790 431,917
Decrease in accrued expenses, related party (51,253) (530,659)
Net cash used in operating activities (3,629,025) (6,346,160)
Cash flows from investing activities:    
Purchase of property and equipment (19,486) (21,438)
Net cash used in investing activities (19,486) (21,438)
Cash flows from financing activities:    
Proceeds from exercise of warrants 3,150,416 985,763
Payments finance lease obligations (5,779) (4,998)
Net proceeds from employee options exercised 770,702 0
Net proceeds from note payable 0 276,180
Net proceeds from Public Placement Offering 0 18,043,284
Net cash provided by financing activities 3,915,339 19,300,229
Net increase in cash and cash equivalents 266,828 12,932,631
Cash and cash equivalents at beginning of period 14,223,917 1,516,272
Cash and cash equivalents at end of period 14,490,745 14,448,903
Supplemental non-cash disclosure of cash flow information:    
Initial recognition of operating lease-right of use assets 0 (706,071)
Initial recognition of operating lease right to used liabilities $ 0 $ 706,071

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