Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITTIES    
Net loss $ (2,983,000) $ (5,190,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 5,000 5,000
Amortization expense 650,000 402,000
Gain on cancellation of liabilities $ (697,000)
Stock issued for services 17,000
Change in allowance for doubtful accounts $ 5,000 $ 7,000
Stock compensation expense 610,000 2,847,000
Decrease (increase) in:    
Accounts receivable 118,000 (110,000)
Prepaid expenses 1,000 8,000
Right of use asset, net of lease liability (11,000)
Accounts payable and accrued expenses 625,000 33,000
Deferred revenue (7,000) 29,000
NET CASH USED IN OPERATING ACTIVITIES (1,667,000) (1,969,000)
INVESTING ACTIVITIES    
Purchase of property & equipment (5,000)
Amount paid for acquisition of ClariCare software (50,000)
Amounts paid for capitalized software development costs (423,000) (337,000)
NET CASH USED IN INVESTING ACTIVITIES (473,000) (342,000)
FINANCING ACTIVITES    
Proceeds from debt 123,000
Payments on debt (736,000) (389,000)
Proceeds from issuance of common stock 3,197,000 2,649,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 2,584,000 2,260,000
NET INCREASE (DECREASE) IN CASH 444,000 (51,000)
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR 1,000 52,000
CASH AND CASH EQUIVALENTS AT END OF THE YEAR 445,000 1,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid during the period for interest $ 195,000 $ 226,000
Stock issued for acquisition of technology 575,000
Stock issued for conversion of notes payable 20,000
Issuance of promissory note for settlement of bonus payable $ 75,000