Registration of securities issued in business combination transactions

Consolidated Statements of Cash Flows

v3.20.4
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities    
Net loss from continuing operations $ (12,152,214) $ (3,381,295)
Net loss from discontinued operations (5,428,395) (506,954)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss (gain) on sale of securities 36,714 (3,952)
Gain on fair market value of equity investments (54,100)
Accrued income - marketable securities 2,790 3,353
Depreciation and amortization 29,452 74,064
Loss on disposal of fixed assets 3,043 9,576
Impairment of prepaid royalties 291,442
Impairment of production equipment 18,680
Impairment of intangible assets 152,822 32,980
Inventory adjustment for net realizable value 197,723
Reserve for obsolete inventory 371,997
Reserve for doubtful trade receivables 5,325
Reserve for doubtful other receivables 100,000
Stock-based compensation
Changes in assets and liabilities:    
Decrease in trade receivables 42,881 128,120
(Increase) decrease in deposits and other receivables (9) 9,347
Decrease in inventories 1,262 14,285
Decrease in prepaid expenses 41,752 103,152
Decrease in other assets 2,722 9,280
Decrease in trade and other payables 733,530 (443,735)
Net cash used in operating activities (11,924,941) (3,074,283)
Cash flows from investing activities    
Proceeds from the sale of equipment 6,250
Short-term note receivable (1,200,000) (100,000)
Purchases of marketable securities (9,871,843) (6,704,837)
Proceeds from sale of marketable securities 2,314,374 2,857,960
Net cash used in investing activities (8,757,469) (3,940,627)
Cash flows from financing activities    
Net proceeds from issuance of common stock 29,184,244 2,147,778
Net proceeds from issuance of pre-funded warrants for the purchase of common stock 1,743,503 4,817,857
Net proceeds from the exercise of pre-funded warrants for the purchase of common stock 80 58
Net proceeds from exercise of warrants for common stock 7,740,000
Net cash provided by financing activities 38,667,827 6,965,693
Net increase/(decrease) in cash and cash equivalents and restricted cash 17,985,417 (49,217)
Cash and cash equivalents and restricted cash at beginning of year 632,538 681,755
Cash and cash equivalents and restricted cash at end of year 18,617,955 632,538
Supplemental cash flow information:    
Interest
Income Taxes
Supplemental Schedule of Non-Cash Financing and Investing Activities    
Net unrealized gains on marketable securities 43,799
Exercise of Series D Convertible Preferred Stock for Common Stock 273,955
Vendors [Member]    
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 7,318 10,802
Chube Workx [Member]    
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,510,000
Cystron [Member]    
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 1,233,057
Employee [Member] | Common Stock [Member]    
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 27,367
Director [Member] | Restricted Stock Units (RSUs) [Member]    
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation $ 404,589 $ 362,005