Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:    
Net loss $ (41,216,788) $ (19,555,868)
Adjustments to reconcile net loss from operations to cash used by operations:    
Depreciation 549,973 381,823
Stock based compensation 1,433,192 799,552
Write down of inventory 78,917
Effects of changes in operating assets and liabilities:    
Accounts receivable (223,133) (1,047,594)
Inventory (2,157,107) (2,464,835)
Prepaid expenses and deposits (196,971) 622,489
Accounts payable and accrued liabilities 3,140,313 2,449,556
Accounts payable, related parties (46,425) (298,203)
Customer deposits 54,405
Net cash used by operations (38,662,541) (19,034,163)
Cash flows from investing activities:    
Capital expenditures (143,355) (528,095)
Net cash used by investing activities (143,355) (528,095)
Cash flows from financing activities:    
Proceeds from notes payable 4,762,500
Proceeds from advances 26,732
Payments on long-term debt (76,572)
Conversion of note payable (2,724,550)
Shareholder advances, net of repayments 118,072
Issuance of common and preferred stock 37,042,468
Exercise of warrants and options 650,675 14,961,143
Net cash provided by financing activities 42,405,803 12,354,665
Change in cash and cash equivalents 3,599,907 (7,207,593)
Cash at the beginning of the period 469,570 7,677,163
Cash at the end of the period $ 4,069,477 $ 469,570