Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.20.1
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,057,662) $ (1,975,706)
Income from discontinued operations 284,544 1,331,634
Loss from continuing operations (773,118) (644,072)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 0 24,510
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 9,133 (1,920)
Accounts payable and accrued expenses 210,552 (331,834)
NET CASH USED IN OPERATING ACTIVITIES - CONTINUING OPERATIONS (553,433) (953,316)
NET CASH USED IN OPERATING ACTIVITIES - DISCONTINUED OPERATIONS (124,182) (919,138)
NET CASH USED IN OPERATING ACTIVITIES (677,615) (1,872,454)
CASH FLOWS FROM INVESTING ACTIVITIES:    
NET CASH USED IN INVESTING ACTIVITIES - CONTINUING OPERATIONS 0 0
NET CASH PROVIDED BY INVESTING ACTIVITIES - DISCONTINUED OPERATIONS (30,083) (74,061)
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES (30,083) (74,061)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the sale of common stock, net 0 2,000,001
Financing fees in connection with the sale of common stock 0 (15,000)
Proceeds from issuance of common stock in connection with exercise of H-4 warrants 0 16,667
NET CASH PROVIDED BY FINANCING ACTIVITIES - CONTINUING OPERATIONS 0 2,001,668
NET CASH USED IN FINANCING ACTIVITIES - DISCONTINUED OPERATIONS 0 0
NET CASH PROVIDED BY FINANCING ACTIVITIES 0 2,001,668
Net increase in cash, including cash classified within current assets held for sale (707,698) 55,153
Less: Net increase in cash classified within current assets held for sale 0 239,821
Net (decrease) increase in cash (707,698) 294,974
Cash, beginning of period 4,259,091 3,887,910
Cash, end of period 3,551,393 4,182,884
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 0 0
Cash paid for taxes 0 0
Issuance of common stock for accrued stock based compensation $ 0 $ 4,724