General form of registration statement for all companies including face-amount certificate companies

Condensed Consolidated Statements of Cash Flows

v3.20.4
Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended 12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Dec. 31, 2018
Cash Flows from Operating Activities        
Net loss $ (3,736,028) $ (4,819,585) $ (6,956,815) $ (5,678,418)
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation: 401(k) stock 24,945 39,802 55,196 63,414
Stock-based compensation: Options and warrants 262,670 331,680 432,187 716,249
Gain on foreign currency translation (35,316) (106,513) (101,732) (187,660)
Unrealized investment losses 1,739 2,802 4,370 18,561
Depreciation and amortization 138,409 151,370 196,438 171,749
Loss on disposal of asset 401 401
Amortization of right-of-use asset 92,862 160,521 212,441
Amortization of debt discount 9,335 15,545 21,336 259,709
Recovery of uncollectible assets (13,079) 126,157 (163,613)
Loss on derecognition of right-of-use asset and lease liabilities 39,367    
Gain on debt restructuring (130,421)
Write-down of inventory 111,327 193,564
Decrease (increase) in assets:        
Accounts receivable (487,000) (538,129) (181,247) 281,677
Inventory 51,462 (299,568) (322,929) (191,973)
Deposits 18,451 (38,014)
Prepaid expenses and other current assets (45,831) (206,121) (116,563) (255,240)
Increase (decrease) in liabilities:        
Accounts payable and accrued expenses 232,632 193,425 615,792 724,014
Operating lease liabilities (98,641) (147,809) (203,196)
Deferred revenue (11,001) (10,914) (3,841) (185,147)
Other liabilities 2,782 (14,678) (13,956) 80,745
Total Adjustments 53,365 (316,859) 876,404 1,332,485
Net Cash Used in Operating Activities (3,682,663) (5,136,444) (6,080,411) (4,345,933)
Cash Flows from Investing Activities        
Purchase of property and equipment (39,859) (147,944) (139,271) (292,213)
Purchase of investment     (74,485)
Net Cash Used in Investing Activities (39,859) (147,944) (213,756) (292,213)
Cash Flows from Financing Activities        
Proceeds from loans payable 27,641 580,386
Proceeds from loans payable - related parties 574,000 566,132
Repayments of loans payable (266,580) (163,115) (197,034) (199,910)
Repayments of loans payable - related parties (579,011)    
Proceeds from convertible debt obligations 3,214,389 786,000 786,000 3,507,530
Repayments of debt obligations (95,500) (95,500)
Dividends paid in cash     (127,502)
Proceeds from common stock offering 1,201,200 4,610,700 4,610,700 1,323,695
Proceeds from PPP Loan 242,487    
Proceeds from SBA Economic Injury Disaster Loan 94,000    
Repurchase of preferred stock (16,000)    
Proceeds from investor deposits     29,950
Net Cash Provided by Financing Activities 4,492,126 5,138,085 5,700,248 5,084,199
Effect of Exchange Rate Changes on Cash 400,686 596,187 575,809 (745,868)
Net Increase in Cash 1,170,290 449,884 (18,110) (299,815)
Cash - Beginning of Period 40,378 58,488 58,488 358,303
Cash - End of Period 1,210,668 508,372 40,378 58,488
Supplemental Disclosures of Cash Flow Information:        
Interest paid 199,632 251,001 333,091 358,114
Income taxes paid
Non-Cash Investing and Financing Activity        
Accrued stock-based compensation converted to equity 63,415 63,414 81,399
Debt and interest payable converted to equity 1,260,314 52,660 52,660 809,875
Notes payable exchanged for common stock of GGI 2,106,608 2,106,608
Common stock issued in satisfaction of debt obligations 50,709 50,709
Common stock issued for subscription receivable $ 140,600    
Common stock returned to Company to satisfy receivable     32,285
Beneficial conversion feature     227,414
Dividends declared on Series B Convertible Redeemable Preferred Stock     474,719
Common stock issued to satisfy dividends payable     $ 264,272