v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net loss $ (2,305,549) $ (1,100,451) $ (4,567,085) $ (1,358,745)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation expense 72,206 67,447 206,654 199,242  
Amortization of intangible asset     18,750 18,750  
Stock based compensation     1,321,564 130,400  
Stock issued for services     14,200 62,750  
Amortization of right to use     24,948 23,773  
Amortization of convertible debt discount, net     1,425,365 752,130  
Gain on debt extinguishment (20,832) (269,261)  
Change in operating assets and liabilities:          
Accounts receivable     (132,808) 81,739  
Inventory     (621,487) (135,648)  
Unbilled revenue     (22,353) 877  
VAT receivable     (446,657)  
Prepaid expense     (45,575) 16,812  
Other current assets     (728) 57,800  
Accounts payable and accrued liabilities     (168,557) (61,747)  
Lease liabilities     (24,898) (21,562)  
Provision for income taxes     37,603 (1,330)  
Contract liabilities     4,252 (780)  
Net cash used in operating activities     (2,997,644) (504,800)  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Purchase of property and equipment     (95,598) (30,752)  
Net cash used in investing activities     (95,598) (30,752)  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from convertible note payable     350,000 958,000  
Proceeds from related party payable     34,238  
Proceeds from common stock offering     12,661,984  
Proceeds from warrant offering     1,987,589  
Proceeds from exercise of warrant     4,629,540  
Proceeds from exercise of options     5,000 33,000  
Proceeds of note payable     343,907  
Repayments of line of credit     (19,685)  
Repayments of related party payable     (69,025) (18,889)  
Repayments of note payable     (121,848) $ 0
Repayments of Coronavirus note payable     (11,189)  
Net cash provided by financing activities     19,466,289 1,296,333  
Effect of exchange rate on cash     36,835 (19,130)  
Net increase in cash     16,409,882 741,651  
Cash beginning of period     728,762 75,362 75,362
Cash end of period $ 17,138,644 $ 817,013 17,138,644 817,013 $ 728,762
Cash paid during the period for          
Interest     144,187  
Income tax      
Non-cash adjustments during the period for          
Beneficial conversion feature on convertible debt     340,420 898,918  
Conversion of convertible debt into common shares     1,644,267 585,589  
Obtaining right of use asset for lease liability     $ 59,906  

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