Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended 12 Months Ended
Dec. 31, 2017
Dec. 31, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITTIES:      
Net loss $ (1,661,000) $ (5,190,000) $ (4,490,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 3,000 4,000 7,000
Amortization of software development 157,000 402,000 255,000
Amortization of deferred loan costs 2,000
Change in allowance for doubtful accounts 3,000 7,000 (8,000)
Share-based expenditures 447,000 2,847,000 141,000
Decrease (increase) in:      
Accounts receivable 60,000 (110,000) (64,000)
Prepaid expenses 8,000 27,000
Accounts payable and accrued expenses 126,000 33,000 2,346,000
Deferred revenue 15,000 29,000 37,000
NET CASH USED IN OPERATING ACTIVITIES (850,000) (1,969,000) (1,747,000)
INVESTING ACTIVITIES      
Purchase of property & equipment (1,000) (5,000) (5,000)
Amounts paid for capitalized software development (193,000) (337,000) (317,000)
NET CASH USED IN INVESTING ACTIVITIES (194,000) (342,000) (322,000)
FINANCING ACTIVITIES      
Proceeds from long term debt 150,000 2,117,000
Payments on long term debt (107,000) (389,000) (119,000)
Proceeds from issuance of common stock 1,010,000 2,649,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 1,053,000 2,260,000 1,998,000
NET (DECREASE) / INCREASE IN CASH 9,000 (51,000) (71,000)
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD 43,000 52,000 114,000
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD 52,000 1,000 43,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid during the period for interest 63,000 226,000 68,000
Stock issued for acquisitions 970,000
Issuance of common stock during recapitalization for extinguishment of long term debt and conversion of preferred stock $ 15,133,000