Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net loss $ (6,264,172) $ (6,417,806)
Adjustments to reconcile net loss from operations to cash used by operations:    
Depreciation 96,687 48,359
Amortization of Marathon loan issuance costs 129,050
Amortized discount and debt issuance costs on Senior Secured Notes 493,750
Stock based compensation 691,070 72,178
Change in fair value - warrants 568,066
Effects of changes in operating assets and liabilities:    
Accounts receivable and lease receivable (351,138) 693,278
Inventory 42,818 (405,627)
Prepaid expenses and deposits 225,761 730,365
Accounts payable and accrued liabilities (747,229) (70,024)
Warranty (147,602) 61,312
Customer deposits (12,000) 212,595
Net cash used by operations (5,768,689) (4,581,620)
Cash flows from investing activities:    
Capital expenditures
Net cash provided by investing activities
Cash flows from financing activities:    
Payments on long-term debt (9,024)
Proceeds from revolving loans 4,104,140
Issuance of common stock 2,999,735 1,187,415
Exercise of warrants and options 87,315
Net cash provided by financing activities 7,103,875 1,265,706
Change in cash and cash equivalents 1,335,186 (3,315,914)
Cash at the beginning of the period 1,512,750 4,069,477
Cash at the end of the period $ 2,847,936 $ 753,563