v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flow from Operating Activities    
Net loss attributable to Edison Nation, Inc. $ (354,888) $ (3,170,707)
Net income attributable to noncontrolling interests 22,241 17,245
Net loss (332,647) (3,153,462)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 612,406 633,570
Amortization of financing costs 1,227,046 391,223
Stock-based compensation 1,588,427 708,490
Amortization of right of use asset 153,820 155,408
Gain on divestiture (4,911,760)
Changes in assets and liabilities:    
Accounts receivable (978,097) (1,215,155)
Inventory 178,227 (336,544)
Prepaid expenses and other current assets (967,109) (561,331)
Accounts payable (344,847) 1,191,252
Accrued expenses and other current liabilities 1,425,622 480,928
Operating lease liabilities (148,518) (144,132)
Due from related party 9,532 (65,600)
Net cash used in operating activities (2,487,898) (1,915,353)
Cash Flows from Investing Activities    
Purchases of property and equipment (61,917) (106,770)
Net cash used in investing activities (61,917) (106,770)
Cash Flows from Financing Activities    
Borrowings under lines of credit, net 1,678,540 240,000
Borrowings under convertible notes payable 1,436,000 1,111,111
Borrowings under notes payable 1,767,352 1,110,000
Repayments under lines of credit (31,542)
Repayments under notes payable (824,472) (566,710)
Repayments under notes payable - related parties (14,508) (40,997)
Fees paid for financing costs (143,479) (427,411)
Net cash provided by financing activities 3,899,433 1,394,451
Net increase (decrease) in cash and cash equivalents 1,349,618 (627,672)
Cash and cash equivalents - beginning of period 412,719 2,052,731
Cash and cash equivalents - end of period 1,762,337 1,425,059
Supplemental Disclosures of Cash Flow Information    
Interest 144,740 74,908
Income taxes 235,725
Noncash investing and financing activity:    
Shares issued to note holders 173,300
Conversion under notes payable $ 424,000

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