Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flow from Operating Activities    
Net income (loss) attributable to Edison Nation, Inc. $ 1,269,492 $ (1,435,290)
Net income attributable to noncontrolling interests 56,893
Net income (loss) 1,269,492 (1,378,397)
Adjustments to reconcile net (income) loss to net cash used in operating activities:    
Depreciation and amortization 316,299 301,383
Amortization of financing costs 570,636 56,022
Stock-based compensation 1,319,511 362,419
Amortization of right of use asset 77,823 77,704
Gain on divestiture (4,911,760)
Changes in assets and liabilities:    
Accounts receivable 64,359 (776,057)
Inventory 69,089 (437,635)
Prepaid expenses and other current assets 33,441 (1,004,133)
Accounts payable (215,320) 840,943
Accrued expenses and other current liabilities 335,815 381,714
Operating lease liabilities (74,776) (73,473)
Due from related party (8,115) (42,686)
Net cash used in operating activities (1,153,505) (1,692,196)
Cash Flows from Investing Activities    
Purchases of property and equipment (31,918) (72,955)
Net cash used in investing activities (31,918) (72,955)
Cash Flows from Financing Activities    
Net borrowings under line of credit 112,862 (15,035)
Borrowings under convertible notes payable 1,100,000
Borrowings under notes payable 950,000 500,000
Repayments under notes payable (672,773) (3,336)
Repayments under notes payable- related parties (14,508) (27,263)
Fees paid for financing costs (170,815) (22,500)
Net cash provided by financing activities 1,304,766 431,866
Net increase (decrease) in cash and cash equivalents 119,343 (1,333,285)
Cash and cash equivalents - beginning of period 412,719 2,052,731
Cash and cash equivalents - end of period 532,062 719,446
Supplemental Disclosures of Cash Flow Information    
Interest 127,504 52,640
Income taxes 235,275
Noncash investing and financing activity:    
Shares issued to note holders $ 368,000 $ 74,100