Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

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Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Loss from continuing operations $ (1,763,759) $ (1,603,330)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 57,248 56,497
Write-off of capitalized patents 18,235 0
Stock-based compensation 226,168 140,190
Stock issued for services 50,000 0
Decrease in operating assets:    
Prepayments and other current assets 42,230 112,347
Increase (decrease) in operating liabilities:    
Accounts payable (135,623) 2,836
Accrued expenses 3,144 (7,588)
Net cash used in operating activities (1,502,357) (1,299,048)
Net cash used in operating activities - discontinued operations 0 (465,328)
Cash flows from investing activities:    
Purchase of property and equipment (10,678) (1,194)
Acquisition of intangible assets (23,288) (54,710)
Net cash used in investing activities (33,966) (55,904)
Cash flows from financing activities:    
Proceeds from loans 96,407 0
Proceeds from the exercise of warrants 175,816 0
Net cash provided by financing activities 272,223 0
Net decrease in cash and cash equivalents - continuing operations (1,264,100) (1,354,952)
Net decrease in cash and cash equivalents - discontinued operations 0 (465,328)
Cash and cash equivalents at beginning of period 3,057,682 3,258,077
Cash and cash equivalents at end of period $ 1,793,582 $ 1,437,797