v3.19.3.a.u2
Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ 13,751,877 $ 9,314,936
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 216,737 120,488
Share-based compensation 2,488,053 938,184
Write-down of intangible assets 0 19,138
Amortization of debt discount 664,953 111,537
Deferred rent (7,335) (2,516)
Changes in operating assets – (Increase)/Decrease:    
Prepaid expenses and other current assets (85,777) (2,787)
Changes in operating liabilities – Increase/(Decrease):    
Accounts payable (369,574) 1,387,383
Accrued liabilities 83,463 1,143,139
Accrued interest – non-related party 10,617 133,804
Accrued interest – related party 145,667 866,889
NET CASH USED IN OPERATING ACTIVITIES: (10,605,073) (4,599,677)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Payments for the purchase of property and equipment (829,896) (17,626)
Payments for acquisition of intangibles (12,614) (12,354)
NET CASH USED IN INVESTING ACTIVITIES: (842,510) (29,980)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of non-convertible notes payable - related party and non-related party (985,000) 0
Payment of non-convertible notes payable accrued interest - related party and non-related party (20,038) 0
Proceeds from the issuance of non-convertible notes payable - non-related party 300,000 0
Proceeds from initial public offering, net of costs   0
Proceeds from issuance of convertible notes – related party 0 2,397,000
Proceeds from issuance of convertible notes, net 0 1,814,240
Proceeds from issuance of non-convertible notes – related party 0 125,000
Proceeds from issuance of non-convertible notes 0 560,000
Payment of deferred direct issuance costs – proposed offering 0 (151,560)
NET CASH PROVIDED BY FINANCING ACTIVITIES: 23,390,573 4,744,680
Net increase (decrease) in cash, cash equivalents and restricted cash 11,942,990 115,023
Cash, cash equivalents and restricted cash, beginning of period 133,435 18,412
Cash, cash equivalents and restricted cash, end of period 12,076,425 133,435
Supplemental cash flow disclosures:    
Cash paid for interest 20,038 0
Cash paid for income taxes 0 0
Non-cash investing and financing activities:    
Accrued direct issuance costs – offering (276,560) 125,000
Property and equipment acquired through accounts payable 0 780,000
Capital contributions – debt forgiveness 434,065 132,708
Accrued preferred dividends 160,219 1,280,000
Debt discount on convertible notes and notes payable – issuance of warrants 145,974 466,754
Issuance of common stock for extinguishment of convertible note payable - related party and non-related party 10,400,000 0
Issuance of common stock for extinguishment of convertible note payable accrued interest - related party and non-related party 1,432,768 0
Issuance of common stock for extinguishment of dividends payable 4,773,480 0
Issuance of common stock for extinguishment of preferred stock A and preferred stock B $ 2,535 0
June 19    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from private investment in public equity offering   0
October 19    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from private investment in public equity offering   $ 0

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