Cash Flow

v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Loss from continuing operations $ (755,615) $ (1,422,431)
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities - continuing operations:    
Depreciation and amortization 29,606 52,001
Deferred tax benefit (64,704) (5,909)
Amortization of right-of-use asset 22,847 39,102
Accretion of lease liability 1,469
Stock-based compensation expense 106,428 18,680
Write-off of property and equipment
Litigation settlement reserve 450,000
Issuance of common stock related to settlement 166,500
Payment of lease obligations (45,642)
Changes in operating assets and liabilities, net of effects of discontinued operations:    
Accounts receivable (60,619) 433,396
Prepaid expenses and other current assets 1,987 (66,419)
Incremental direct costs (6,636) 7,139
Accounts payable (296,600) 187,576
Accrued expenses (126,154) (73,004)
Deferred revenue 213,862 (149,836)
Net cash used in operating activities - continuing operations (769,098) (573,878)
Net cash provided by operating activities - discontinued operations 35,364 15,573
Net cash used in operating activities (733,734) (558,305)
Cash flows from investing activities:    
Costs incurred to develop technology (3,470) (3,700)
Purchases of property and equipment (2,658) (834)
Net cash used in investing activities - continuing operations (6,128) (4,534)
Net cash used in investing activities - discontinued operations (171)
Net cash provided used in investing activities (6,128) (4,705)
Cash flows from financing activities:    
Proceeds from the sale of common stock 1,000,000 1,500,000
 Net cash provided by financing activities - continuing operations 1,000,000 1,500,000
Net cash provided by financing activities 1,000,000 1,500,000
Effect of exchange rate fluctuations on cash and cash equivalents (35,364) (15,402)
Net increase (decrease) in cash and cash equivalents 224,774 936,990
Cash, cash equivalents, beginning of period 2,117,569 633,615
Cash and cash equivalents, end of period 2,342,343 1,555,203
Supplemental disclosures of other cash flow information:    
Non-cash stock issuance 166,500
Cash paid for income taxes

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