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Sigma Labs, Inc.
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Condensed Statements of Cash Flows
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(Unaudited)
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| Twelve Months ended | |||||||
| 2017 | 2016 | ||||||
| OPERATING ACTIVITIES | |||||||
| Net Loss | $ | (4,577,516 | ) | $ | (2,221,034 | ) | |
| Adjustments to reconcile Net Income (Loss) to Net | |||||||
| Cash used in operating activities: | |||||||
| Noncash Expenses: | |||||||
| Depreciation, Depletion and Amortization | 196,943 | 178,841 | |||||
| Stock Compensation | 722,061 | (345,759 | ) | ||||
| Loss on Write-off of Assets | 28,861 | - | |||||
| Gain/Loss on Change in Derivative Balance | 186,908 | 354,644 | |||||
| Amortization of Debt Discount | 358,280 | 89,570 | |||||
| Note payable original issue discount | 88,442 | 20,114 | |||||
| Change in assets and liabilities: | |||||||
| Accounts Receivable, net | 183,698 | (8,014 | ) | ||||
| Inventory | (5,464 | ) | (167,112 | ) | |||
| Prepaid Assets | (19,222 | ) | 2,631 | ||||
| Accounts Payable | (11,291 | ) | 73,782 | ||||
| Deferred Revenue | 32,365 | 24,200 | |||||
| Accrued Expenses | 24,529 | 53,593 | |||||
| NET CASH USED IN OPERATING ACTIVITIES | (2,791,406 | ) | (1,962,314 | ) | |||
| INVESTING ACTIVITIES | |||||||
| Purchase of Furniture and Equipment | (69,463 | ) | (22,494 | ) | |||
| Purchase of Intangible Assets | (70,997 | ) | (65,332 | ) | |||
| Notes receivable | (788,500 | ) | - | ||||
| Investment in Joint Venture | 8,722 | ||||||
| NET CASH USED IN INVESTING ACTIVITIES | (928,960 | ) | (79,104 | ) | |||
| FINANCING ACTIVITIES | |||||||
| Proceeds from issuance of common stock and warrants | 5,225,649 | - | |||||
| Proceeds from issuance of Notes Payable | - | 900,000 | |||||
| Payments on Debt | (500,000 | ) | |||||
| Proceeds from Exercise of Warrants | 112,000 | - | |||||
| NET CASH PROVIDED BY FINANCING ACTIVITIES | 4,837,649 | 900,000 | |||||
| NET CASH DECREASE FOR PERIOD | 1,117,283 | (1,141,418 | ) | ||||
| CASH AT BEGINNING OF PERIOD | 398,391 | 1,539,809 | |||||
| CASH AT END OF PERIOD | $ | 1,515,674 | $ | 398,391 | |||
| Supplemental Disclosures: | |||||||
| Noncash investing & financing activities disclosure: | |||||||
| Shares issued for Cashless Exchange of Unit Purchase Option | $ | - | $ | - | |||
| Write-off of Derivative Liability | $ | (280,114 | ) | $ | - | ||
| Conversion of conv debt for stock | $ | (408,556 | ) | $ | - | ||
| Other noncash operating activit ies disclosure: | |||||||
| Issuance of Common Stock for Services | $ | 73,314 | $ | 152,265 | |||
| Disclosure of cash paid for: | |||||||
| Interest Expense | $ | 89,348 | $ | - | |||
Sigma Labs Announces Full Year 2017 Financial Results
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