| Sigma Labs, Inc. | |||||||||||
| Condensed Statements of Cash Flows | |||||||||||
| For the Periods Ended | |||||||||||
| (Unaudited) | |||||||||||
| December 31, | December 31, | ||||||||||
| 2018 | 2017 | ||||||||||
| OPERATING ACTIVITIES | |||||||||||
| Net Loss | $ | (5,574,163 | ) | $ | (4,424,503 | ) | |||||
| Adjustments to reconcile Net Income (Loss) to Net Cash used in operating activities: | |||||||||||
| Noncash Expenses: | |||||||||||
| Depreciation and Amortization | 192,374 | 196,943 | |||||||||
| Stock Based Compensation | 1,145,530 | 719,796 | |||||||||
| Loss on Writeoff of Assets | 36,733 | 13,161 | |||||||||
| Refund on Write-off of Asset | - | 15,700 | |||||||||
| Gain/Loss on Change in Derivative Balance | - | 186,908 | |||||||||
| Original Issue Discount Amortization | - | 88,442 | |||||||||
| Debt Discount Amortization | - | 358,280 | |||||||||
| Change in assets and liabilities: | |||||||||||
| Accounts Receivable, net | 65,738 | 183,698 | |||||||||
| Interest Receivable | 34,390 | - | |||||||||
| Inventory | (24,844 | ) | (5,464 | ) | |||||||
| Prepaid Assets | (1,652 | ) | (16,957 | ) | |||||||
| Accounts Payable | 116,604 | (11,291 | ) | ||||||||
| Deferred Revenue | 15,818 | 32,365 | |||||||||
| Accrued Expenses | 230,501 | 24,529 | |||||||||
| NET CASH USED IN OPERATING ACTIVITIES | $ | (3,762,971 | ) | $ | (2,638,393 | ) | |||||
| INVESTING ACTIVITIES | |||||||||||
| Purchase of Furniture and Equipment | (79,116 | ) | (69,463 | ) | |||||||
| Purchase of Intangible Assets | (149,409 | ) | (70,997 | ) | |||||||
| Notes Receivable | 632,197 | (788,500 | ) | ||||||||
| NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES | 403,672 | (928,960 | ) | ||||||||
| FINANCING ACTIVITIES | |||||||||||
| Proceeds from issuance of Series B Convertible Preferred & Warrants | 1,000,000 | - | |||||||||
| Proceeds from issuance of Series C Convertible Preferred & Warrants | 350,000 | - | |||||||||
| Proceeds from issuance of Common Stock and Warrants | 2,040,100 | 5,823,300 | |||||||||
| Less Offering Costs | (443,700 | ) | (750,664 | ) | |||||||
| Payments on Notes Payable | - | (500,000 | ) | ||||||||
| Proceeds from Exercise of Warrants | 192,132 | 112,000 | |||||||||
| Dividends on Preferred | (15,125 | ) | - | ||||||||
| NET CASH PROVIDED BY FINANCING ACTIVITIES | 3,123,407 | 4,684,636 | 153,013 | ||||||||
| NET CASH INCREASE (DECREASE) FOR PERIOD | $ | (235,892 | ) | $ | 1,117,283 | ||||||
| CASH AT BEGINNING OF PERIOD | $ | 1,515,674 | $ | 398,391 | |||||||
| CASH AT END OF PERIOD | $ | 1,279,782 | $ | 1,515,674 | |||||||
| Supplemental Disclosures: | |||||||||||
| Noncash investing & financing activities disclosure: | |||||||||||
| Write-off of Derivative Liability | $ | - | $ | (280,114 | ) | ||||||
| Conversion of conv debt for stock | $ | (50,000 | ) | $ | (408,566 | ) | |||||
| Ot her noncash operating activities disclosure: | |||||||||||
| Issuance of Common Stock for Services | $ | 256,264 | $ | 75,578 | |||||||
| Di sclosure of cash paid for: | |||||||||||
| Interest | $ | 12,205 | $ | 89,348 | |||||||
Sigma Labs Announces Full Year 2018 Financial Results
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