v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
OPERATING ACTIVITIES    
Net income (loss) $ 7,100,217 $ (5,366,946)
Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities:    
Depreciation and amortization 375,671 144,294
Amortization of debt issuance costs and accrued interest 50,074 163,599
Amortization of beneficial conversion feature of convertible debts 0 26,076
Common stock issued for professional services 295,326 0
Stock-based compensation 1,634,184 3,072,224
Royalty buy-out 0 2,432,000
Bad debt expense 46,779 400,435
Accrued interest payable 0 103,603
Gain on changes in derivative liability 0 (248,875)
Change in operating assets and liabilities:    
Accounts receivable (1,029,546) (774,473)
Inventory 1,959,017 856,229
Prepaid expenses and other current assets (1,036,330) (971,567)
Accounts payable and accrued expenses 363,557 810,617
Deferred rent 166,870 0
Net cash provided by operating activities 9,925,819 647,216
INVESTING ACTIVITIES    
Purchase of equipment (331,101) (6,410)
Tenant improvements to leasehold real estate (93,253) 0
Net cash flows used in Investing activities (424,354) (6,410)
FINANCING ACTIVITIES    
Borrowings from secured convertible debt, net of costs 0 750,000
Repayment of convertible debt in cash (660,000) 0
Repayment of unsecured debt in cash (850,000) 0
Repayment of unsecured notes payable (116,370) (125,964)
Proceeds from exercise of stock options 343,316 0
Net cash flows provided by (used in) financing activities (1,283,054) 624,036
Net increase in cash and restricted cash 8,218,411 1,264,842
Cash and restricted cash, beginning of period 2,791,544 1,057,468
Cash and restricted cash, end of period 11,009,955 2,322,310
Supplemental disclosure of non-cash transactions:    
Conversion of convertible promissory notes and accrued interest to common stock 0 1,655,000
Value of embedded derivative at inception 0 29,300
Issuance of common stock in consideration for royalty buyout 0 1,500
Issuance of common stock to settle restricted stock units 0 200
Issuance of common stock for prepaid expenses and other current assets 0 202,000
Stock redemptions 0 75,000
Supplemental cash flow disclosures:    
Interest paid 150,386 78,397
Taxes paid $ 70,556 $ 39,584

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