Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Operating activities      
Net loss $ (4,815,431) $ (3,057,306)  
Adjustments to reconcile net income loss to net cash used in operating activities:      
Depreciation and amortization 217,958 265,464  
Amortization of right of use assets 64,854 46,534  
Amortization of debt discount 704,223 313,297  
Stock-based compensation 61,571 16,901  
Change in fair value of derivative liability (303,850) 31,816  
Derivative expense 1,775,057 348,334  
(Gain) loss on settlement of liabilities (201,778) (582,806)  
Gain on equity investment in Centercom 73,773 (32,369)  
Changes in operating assets and liabilities:      
Accounts receivable (308,938) (677,155)  
Lifeline revenue due from USAC (9,169) (149,144)  
Inventory (55,500)  
Prepaid expenses (816) 36,910  
Other assets 66,457  
Credit card liability (882) (60,815)  
Deferred revenue 281,900 684,950  
Loss contingency (38,040)  
Current portion of operating lease liability (67,716) (46,534)  
Accounts payable and accrued expenses (850,610) 1,789,584  
Net cash used in operating activities (3,435,354) (1,043,922)  
Investing activities      
Purchase of equipment (2,615) (3,072)  
Net cash provided by (used) in investing activities (2,615) (3,072)  
Financing activities      
Issuance of Common Stock and warrants 1,510,000 150,000  
Note payable, related party - borrowings 1,255,000    
Note payable - borrowings 768,167    
Note payable - repayments (1,466,719) (27,500)  
Convertible promissory notes - borrowings 2,300,000 1,350,000  
Convertible promissory notes - repayments (233,000)  
Cash paid for debt issuance costs (100,000)  
Net cash provided by financing activities 4,366,448 1,139,500  
Net change in cash and cash equivalents 928,479 92,506  
Cash and cash equivalents, beginning of period 673,995 346,040 $ 346,040
Cash and cash equivalents, end of period 1,602,474 438,546 $ 673,995
Cash paid for interest and income taxes      
Cash paid for interest 27,509  
Non-cash investing and financing activities:      
Common Stock issued for an acquisition 165,000  
Common Stock and warrants issued with debt recorded as debt discount 2,038,635 534,000  
Derivative liability on convertible notes recorded as debt discount 981,382  
Make whole Common Stock issued pursuant to SPA 90,401  
Issuance of Common Stock for modification of debt 108,931  
Operating lease liability $ 515,848 $ 355,203