Delaware
|
98-0204758
|
(State
or other jurisdiction of
|
(I.R.S.
Employer
|
incorporation
or organization)
|
Identification
No.)
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
Common stock par value $0.0001 per share
|
DCAR
|
The Nasdaq Stock Market
|
Large accelerated filer
|
|
☐
|
|
Accelerated filer
|
|
☐
|
Non-accelerated filer
|
|
☑
|
|
Smaller reporting company
|
|
☑
|
|
|
|
|
Emerging
growth company
|
|
☐
|
|
|
PageNo.
|
PART I – FINANCIAL INFORMATION
|
|
|
|
|
|
Item
1.
|
Condensed
Consolidated Financial Statements (Unaudited)
|
|
|
Condensed Consolidated Balance Sheets as of September 30,
2019 and December 31, 2018
|
4
|
|
Condensed Consolidated Statements of Operations for the
three and nine months ended September 30, 2019 and
2018
|
5
|
|
Condensed Consolidated Statements of Changes in
Stockholders’ Equity for the three and nine months ended
September 30, 2019 and
2018
|
6
|
|
Condensed Consolidated Statements of Cash Flows for the
nine months ended September 30, 2019 and 2018
|
7
|
|
Notes
to Condensed Consolidated Financial Statements
|
8
|
|
|
|
Item
2.
|
Management’s
Discussion and Analysis of Financial Condition and Results of
Operations.
|
25
|
|
|
|
Item
3.
|
Quantitative and
Qualitative Disclosures About Market Risk.
|
32
|
|
|
|
Item
4.
|
Controls and
Procedures.
|
32
|
|
|
|
Part II – OTHER INFORMATION
|
|
|
|
|
|
Item
1.
|
Legal
Proceedings.
|
33
|
|
|
|
Item
1A.
|
Risk
Factors.
|
34
|
|
|
|
Item
2.
|
Unregistered Sales
of Equity Securities and Use of Proceeds.
|
36
|
|
|
|
Item
3.
|
Defaults Upon
Senior Securities.
|
36
|
|
|
|
Item
4.
|
Mine
Safety Disclosures.
|
36
|
|
|
|
Item
5.
|
Other
Information.
|
36
|
|
|
|
Item
6.
|
Exhibits.
|
37
|
|
|
|
|
Signatures.
|
38
|
|
September
30,
|
December
31,
|
|
2019
|
2018
|
ASSETS
|
|
|
|
|
|
CURRENT
ASSETS:
|
|
|
Cash
|
$2,594,888
|
$4,303,480
|
Accounts
receivable, net
|
176,328
|
295,626
|
Prepaid expenses
and other current assets
|
311,567
|
328,612
|
Total current
assets
|
3,082,783
|
4,927,718
|
|
|
|
Property and
equipment, net
|
28,255
|
39,821
|
Capitalized
software costs, net
|
478,129
|
659,092
|
Operating lease
right-of-use asset
|
3,772
|
-
|
Other
assets
|
3,525
|
3,525
|
|
|
|
TOTAL
ASSETS
|
$3,596,464
|
$5,630,156
|
|
|
|
LIABILITIES
AND STOCKHOLDERS' EQUITY
|
|
|
|
|
|
CURRENT
LIABILITIES:
|
|
|
Accounts payable
and accrued expenses
|
$1,528,797
|
$2,338,560
|
Deferred
revenue
|
304,683
|
253,200
|
Total current
liabilities
|
1,833,480
|
2,591,760
|
|
|
|
COMMITMENTS
AND CONTINGENCIES
|
|
|
|
|
|
STOCKHOLDERS'
EQUITY:
|
|
|
Preferred stock,
$0.0001 par value, 5,000,000 shares authorized
|
|
|
Series seed
preferred stock, 842,405 shares authorized, zero issued and
outstanding
|
-
|
-
|
Series A preferred
stock, 1,963,877 shares authorized, zero issued and
outstanding
|
-
|
-
|
Convertible Series
H, 8,500 shares designated, 8 shares issued and
outstanding;
|
-
|
-
|
Convertible Series
H-1, 9,488 shares designated, zero shares issued and
outstanding
|
-
|
-
|
Convertible Series
H-2, 3,500 shares designated, zero shares issued and
outstanding
|
-
|
-
|
Convertible Series
H-3, 8,461 shares designated, 2,189 shares issued and
outstanding;
|
-
|
-
|
Convertible Series
H-4, 30,000 shares designated, 5,028 and 26,619 shares issued and
outstanding as of September 30, 2019 and December 31, 2018,
respectively;
|
1
|
3
|
Common stock,
$0.0001 par value; 100,000,000 shares authorized, 4,061,882 and
1,633,394 issued and outstanding as of September 30, 2019 and
December 31, 2018, respectively
|
406
|
163
|
Additional paid in
capital
|
35,192,968
|
32,791,951
|
Accumulated
deficit
|
(33,430,391)
|
(29,753,721)
|
|
|
|
TOTAL
STOCKHOLDERS' EQUITY
|
1,762,984
|
3,038,396
|
|
|
|
TOTAL
LIABILITIES AND STOCKHOLDERS' EQUITY
|
$3,596,464
|
$5,630,156
|
|
For the Three
Months Ended
September
30,
|
For the Nine Months
Ended
September
30,
|
||
|
2019
|
2018
|
2019
|
2018
|
|
|
(Restated)
|
|
(Restated)
|
|
|
|
|
|
SERVICE
REVENUES
|
$1,095,320
|
$1,389,134
|
$3,441,307
|
$4,955,206
|
|
|
|
|
|
COST
OF REVENUE
|
963,692
|
1,789,021
|
3,206,524
|
6,613,583
|
|
|
|
|
|
GROSS
PROFIT (LOSS)
|
131,628
|
(399,887)
|
234,783
|
(1,658,377)
|
|
|
|
|
|
OPERATING
EXPENSES
|
|
|
|
|
Research and
development
|
43,690
|
60,299
|
161,002
|
238,431
|
Selling, general
and administrative expenses
|
745,827
|
2,690,991
|
3,464,312
|
8,943,389
|
Depreciation and
amortization
|
95,360
|
94,031
|
302,076
|
257,440
|
TOTAL
OPERATING EXPENSES
|
884,877
|
2,845,321
|
3,927,390
|
9,439,260
|
|
|
|
|
|
OPERATING
LOSS
|
(753,249)
|
(3,245,208)
|
(3,692,607)
|
(11,097,637)
|
|
|
|
|
|
Other income
(expense), net
|
3,240
|
171
|
15,937
|
(1,081,328)
|
|
|
|
|
|
LOSS
FROM CONTINUING OPERATIONS
|
(750,009)
|
(3,245,037)
|
(3,676,670)
|
(12,178,965)
|
|
|
|
|
|
DISCONTINUED
OPERATIONS
|
|
|
|
|
Income (loss) from
operations of discontinued component
|
-
|
(83,736)
|
-
|
377,207
|
INCOME
(LOSS) FROM DISCONTINUED OPERATIONS
|
-
|
(83,736)
|
-
|
377,207
|
|
|
|
|
|
NET
LOSS
|
$(750,009)
|
$(3,328,773)
|
$(3,676,670)
|
$(11,801,758)
|
|
|
|
|
|
Deemed dividend on
exchange of warrants
|
-
|
(1,019,040)
|
-
|
(1,335,901)
|
|
|
|
|
|
NET
LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS
|
$(750,009)
|
$(4,347,813)
|
$(3,676,670)
|
$(13,137,659)
|
|
|
|
|
|
LOSS
PER SHARE FROM CONTINUING OPERATIONS:
|
|
|
|
|
Basic
|
$(0.19)
|
$(2.26)
|
$(1.09)
|
$(9.65)
|
Diluted
|
$(0.19)
|
$(2.26)
|
$(1.09)
|
$(9.65)
|
EARNINGS
(LOSS) PER SHARE FROM DISCONTINUED OPERATIONS:
|
|
|
|
|
Basic
|
$-
|
$(0.06)
|
$-
|
$0.30
|
Diluted
|
$-
|
$(0.06)
|
$-
|
$0.30
|
NET
LOSS PER SHARE:
|
|
|
|
|
Basic
|
$(0.19)
|
$(3.03)
|
$(1.09)
|
$(10.41)
|
Diluted
|
$(0.19)
|
$(3.03)
|
$(1.09)
|
$(10.41)
|
WEIGHTED
AVERAGE SHARES OUTSTANDING
|
|
|
|
|
Basic
|
4,050,006
|
1,434,963
|
3,381,026
|
1,262,409
|
Diluted
|
4,050,006
|
1,434,963
|
3,381,026
|
1,262,409
|
|
Series Seed
|
Series A
|
Series H
|
Series H-3
|
Series H-4
|
|
|
Additional
|
|
|
|||||
|
Preferred Stock
|
Preferred Stock
|
Preferred Stock
|
Preferred Stock
|
Preferred Stock
|
Common Stock
|
Paid-in
|
Accumulated
|
|
||||||
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Capital
|
(Deficit)
|
Total
|
Balances,
January 1, 2019
|
-
|
-
|
-
|
-
|
8
|
-
|
2,189
|
-
|
26,619
|
3
|
1,633,394
|
163
|
32,791,951
|
(29,753,721)
|
3,038,396
|
Issuance of
common stock for cash net of costs of $15,000
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
478,469
|
48
|
1,984,953
|
-
|
1,985,001
|
Exercise of
warrants
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
277,778
|
28
|
16,639
|
-
|
16,667
|
Conversion of
Series H-4 preferred stock into common stock
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(21,591)
|
(2)
|
1,412,420
|
141
|
(139)
|
-
|
-
|
Stock based
compensation for options issued to employees
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(19,361)
|
-
|
(19,361)
|
Stock based
compensation for restricted stock units issued to
employees
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
289,842
|
-
|
289,842
|
Stock based
compensation for common stock issued to service
providers
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
116,666
|
12
|
222,188
|
-
|
222,200
|
Net
Loss
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(1,975,706)
|
(1,975,706)
|
Balance, March
31, 2019
|
-
|
-
|
-
|
-
|
8
|
-
|
2,189
|
-
|
5,028
|
1
|
3,918,727
|
392
|
35,286,073
|
(31,729,427)
|
3,557,039
|
Issuance of
common stock upon vesting of restricted stock
units
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
244,644
|
24
|
(24)
|
-
|
-
|
Common stock
reserved and retired for excess tax benefits from stock based
compensation
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(120,658)
|
(12)
|
(183,321)
|
-
|
(183,333)
|
Stock based
compensation for options issued to employees
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
44,025
|
-
|
44,025
|
Net
Loss
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(950,955)
|
(950,955)
|
Balance, June
30, 2019
|
-
|
-
|
-
|
-
|
8
|
-
|
2,189
|
-
|
5,028
|
1
|
4,042,713
|
404
|
35,146,753
|
(32,680,382)
|
2,466,776
|
Issuance of
common stock upon vesting of restricted stock
units
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
31,646
|
3
|
(3)
|
-
|
-
|
Common stock
reserved and retired for excess tax benefits from stock based
compensation
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(12,477)
|
(1)
|
(9,856)
|
-
|
(9,857)
|
Stock based
compensation for restricted stock units issued to the board of
directors
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
25,000
|
-
|
25,000
|
Stock based
compensation for options issued to employees
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
31,074
|
-
|
31,074
|
Net
Loss
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(750,009)
|
(750,009)
|
Balance,
September 30, 2019
|
-
|
$-
|
-
|
$-
|
8
|
$-
|
2,189
|
$-
|
5,028
|
$1
|
4,061,882
|
$406
|
$35,192,968
|
$(33,430,391)
|
$1,762,984
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances,
January 1, 2018
|
275,691
|
$27
|
611,944
|
$61
|
-
|
$-
|
-
|
$-
|
-
|
$-
|
374,285
|
$37
|
$5,115,158
|
$(9,604,897)
|
$(4,489,614)
|
Issuance of
common stock for cash
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
10,057
|
1
|
299,999
|
-
|
300,000
|
Conversion of
debt into common stock
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
136,785
|
14
|
3,682,488
|
-
|
3,682,502
|
Interest on
lock-up shares in relation to convertible debt
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
85,571
|
9
|
672,135
|
-
|
672,144
|
Exchange of
shares in connection with Merger
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
490,422
|
49
|
9,792,174
|
-
|
9,792,223
|
Conversion of
outstanding Preferred Stock in connection with
Merger
|
(275,691)
|
(27)
|
(611,944)
|
(61)
|
-
|
-
|
-
|
-
|
-
|
-
|
147,939
|
15
|
73
|
-
|
-
|
Issuance of
Series H preferred stock in connection with
Merger
|
-
|
-
|
-
|
-
|
8
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Issuance of
Series H-3 preferred stock in connection with
Merger
|
-
|
-
|
-
|
-
|
-
|
-
|
2,189
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Issuance of
Series H-4 preferred stock and warrants in private placement, net
of costs of $101,661
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
25,472
|
3
|
-
|
-
|
5,898,336
|
-
|
5,898,339
|
Stock based
compensation for options issued to employees
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
17,210
|
-
|
17,210
|
Stock based
compensation for restricted stock units issued to
employees
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
275,528
|
-
|
275,528
|
Stock based
compensation for common stock issued to service
providers
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
56,929
|
6
|
447,144
|
-
|
447,150
|
Series H-4
preferred stock and warrants issued to service
provider
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
1,371
|
-
|
-
|
-
|
-
|
-
|
-
|
Net
Loss
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(4,480,735)
|
(4,480,735)
|
Balance, March
31, 2018 (Restated)
|
-
|
-
|
-
|
-
|
8
|
-
|
2,189
|
-
|
26,843
|
3
|
1,301,988
|
131
|
26,200,245
|
(14,085,632)
|
12,114,747
|
Conversion of
accrued interest into common stock
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
4,518
|
|
159,584
|
|
159,584
|
Stock based
compensation for options issued to employees
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
67,306
|
-
|
67,306
|
Stock based
compensation for restricted stock units issued to
employees
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
808,808
|
-
|
808,808
|
Stock based
compensation for common stock issued to service
providers
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
3,333
|
-
|
31,800
|
-
|
31,800
|
Deemed
dividend on exchange of merger warrants to Series I warrants and
common stock
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
|
48,786
|
5
|
316,856
|
(316,861)
|
-
|
Net
Loss
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(3,992,250)
|
(3,992,250)
|
Balance, June
30, 2018 (Restated)
|
-
|
-
|
-
|
-
|
8
|
-
|
2,189
|
-
|
26,843
|
3
|
1,358,625
|
136
|
27,584,599
|
(18,394,743)
|
9,189,995
|
Issuance of
common shares in connection with exercise of H-4
warrants
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
260,116
|
26
|
936,397
|
-
|
936,423
|
Stock based
compensation for options issued to employees (net of
forfeitures)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(29,960)
|
-
|
(29,960)
|
Stock based
compensation for restricted stock units issued to
employees
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
817,696
|
-
|
817,696
|
Stock based
compensation for common stock issued to service
providers
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
6
|
-
|
6
|
Deemed
dividend on modification of H-4 Warrants and issuance of Series J
warrants
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
1,019,034
|
(1,019,040)
|
(6)
|
Net
Loss
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(3,328,773)
|
(3,328,773)
|
Balance,
September 30, 2018 (Restated)
|
-
|
$-
|
-
|
$-
|
8
|
$-
|
2,189
|
$-
|
26,843
|
$3
|
1,618,741
|
$162
|
$30,327,772
|
$(22,742,556)
|
$7,585,381
|
|
For the Nine
Months Ended
September
30,
|
|
|
2019
|
2018
|
|
|
(Restated)
|
CASH FLOWS FROM
OPERATING ACTIVITIES:
|
|
|
Net loss
|
$(3,676,670)
|
$(11,801,758)
|
Income from discontinued
operations
|
-
|
(377,207)
|
Loss from continuing
operations
|
(3,676,670)
|
(12,178,965)
|
Adjustments to reconcile net loss
to net cash used in operating activities:
|
|
|
Depreciation and
amortization
|
307,020
|
257,440
|
Amortization of debt
discount
|
-
|
176,000
|
Loss of disposition of
asset
|
3,695
|
-
|
Stock based
compensation
|
588,056
|
2,435,538
|
Non-cash interest
expense
|
-
|
696,013
|
Amortization of operating lease
right-of-use asset
|
19,268
|
-
|
Changes in operating assets and
liabilities:
|
|
|
Accounts
receivable
|
119,298
|
(4,399)
|
Prepaid expenses and other
assets
|
7,615
|
(335,514)
|
Accounts payable and accrued
expenses
|
(805,038)
|
95,756
|
Lease
liabilities
|
(13,610)
|
-
|
Deferred
revenue
|
51,483
|
(213,218)
|
|
|
|
NET CASH USED IN
OPERATING ACTIVITIES - CONTINUING OPERATIONS
|
(3,398,883)
|
(9,071,349)
|
NET CASH USED IN
OPERATING ACTIVITIES - DISCONTINUED OPERATIONS
|
-
|
(995,250)
|
NET CASH USED IN
OPERATING ACTIVITIES
|
(3,398,883)
|
(10,066,599)
|
|
|
|
CASH FLOWS FROM
INVESTING ACTIVITIES:
|
|
|
Purchase of property and
equipment
|
-
|
(43,108)
|
Capitalization of software
costs
|
(118,462)
|
(340,608)
|
Proceeds from sale of fixed
asset
|
275
|
-
|
|
|
|
NET CASH USED IN
INVESTING ACTIVITIES - CONTINUING OPERATIONS
|
(118,187)
|
(383,716)
|
NET CASH
PROVIDED BY INVESTING ACTIVITIES - DISCONTINUED
OPERATIONS
|
-
|
3,875,529
|
NET CASH (USED
IN) PROVIDED BY INVESTING ACTIVITIES
|
(118,187)
|
3,491,813
|
|
|
|
CASH FLOWS FROM
FINANCING ACTIVITIES:
|
|
|
Proceeds from the sale of common
stock, net
|
1,985,001
|
300,000
|
Common stock reserved and retired
in connection with excess tax benefits paid
|
(193,190)
|
-
|
Proceeds from the sale of Series
H-4 preferred stock
|
-
|
6,000,000
|
Financing costs from the sale of
Series H-4 preferred stock and warrants
|
-
|
(101,661)
|
Proceeds from issuance of common
stock in connection with exercise of H-4
warrants
|
16,667
|
936,423
|
|
|
|
NET CASH
PROVIDED BY FINANCING ACTIVITIES - CONTINUING
OPERATIONS
|
1,808,478
|
7,134,762
|
NET CASH USED IN
FINANCING ACTIVITIES - DISCONTINUED OPERATIONS
|
-
|
(36,329)
|
NET CASH
PROVIDED BY FINANCING ACTIVITIES
|
1,808,478
|
7,098,433
|
|
|
|
Net increase (decrease) in
cash
|
(1,708,592)
|
523,647
|
|
|
|
Cash, beginning
of period
|
4,303,480
|
372,011
|
|
|
|
Cash, end of
period
|
$2,594,888
|
$895,658
|
|
|
|
SUPPLEMENTAL
CASH FLOW INFORMATION:
|
|
|
Issuance of common stock for
accrued stock based compensation
|
$4,724
|
$-
|
Assets acquired under operating
leases
|
$23,040
|
$-
|
NON-CASH
FINANCING ACTIVITIES:
|
|
|
Stock issued to WPCS Shareholder in
the merger, net of cash received of 4,947,023
|
$-
|
$4,845,200
|
Series H-4 offering cost paid in
H-4 shares and warrants
|
$-
|
$568,648
|
Stock issued for convertible note
payable
|
$-
|
$3,682,502
|
Stock issued for accrued interest
on convertible note payable
|
$-
|
$159,584
|
Deemed dividends on warrant
issuances
|
$-
|
$1,335,872
|
|
Three Months
Ended
September
30,
|
Nine Months
Ended
September
30,
|
||
|
2019
|
2018
|
2019
|
2018
|
Subscription
services
|
$790,021
|
$1,118,544
|
$2,248,403
|
$3,758,099
|
Services
on-demand
|
305,299
|
270,590
|
1,192,904
|
1,197,107
|
Total revenues
(1)(2)
|
$1,095,320
|
$1,389,134
|
$3,441,307
|
$4,955,206
|
|
Three Months
Ended
September
30,
|
Nine Months
Ended
September
30,
|
||
|
2019
|
2018
|
2019
|
2018
|
B2C
|
$861,494
|
$1,164,093
|
$2,515,178
|
$4,244,682
|
B2B
|
233,826
|
225,041
|
926,129
|
710,524
|
Total
revenues
|
$1,095,320
|
$1,389,134
|
$3,441,307
|
$4,955,206
|
|
As of September
30,
|
|
|
2019
|
2018
|
Common stock
equivalents:
|
|
|
Common stock
options
|
380,396
|
156,880
|
Series A, H-1, H-3,
H-4, I, J and Merger common stock purchase warrants
|
585,306
|
585,307
|
Series H, H-3, and
H-4 Convertible Preferred Stock
|
338,069
|
2,739,225
|
Restricted shares
(unvested)
|
-
|
244,643
|
Totals
|
1,303,771
|
3,726,055
|