Sigma Labs Reports Second Quarter 2018 Financial Results

Condensed Statements of Cash Flows
(Unaudited)

   
  Six Months Ended  
  June 30, 2018     June 30, 2017  
OPERATING ACTIVITIES       
Net Loss$(2,559,680) $(1,815,373)
Adjustments to reconcile Net Loss to Net Cash used in operating activities:       
Noncash Expenses:       
Depreciation and Amortization 95,574   91,651 
Stock Based Compensation 594,915   307,445 
Loss on Write-off of Asset 36,733   - 
(Gain) on Change in Derivative Balance -   (93,206)
Original Issue Discount Amortization -   49,589 
Debt Discount Amortization -   56,441 
Change in assets and liabilities:       
Accounts Receivable 41,028   52,769 
Interest Receivable 38,139   - 
Inventory 47,100   (40,586)
Prepaid Assets (9,613)  (1,120)
Accounts Payable 187,495   25,430 
Deferred Revenue 34,026   35,680 
Accrued Expenses 21,764   40,220 
NET CASH USED IN OPERATING ACTIVITIES (1,472,519)  (1,291,060)
        
INVESTING ACTIVITIES       
Purchase of Property and Equipment (41,968)  (11,380)
Purchase of Intangible Assets (60,147)  (22,054)
Advance of Funds for Note Receivable -   (762,034)
Proceeds from Note Receivable 632,197   - 
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 530,082   (795,468)
        
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       -  
Gross Proceeds from issuance of Common Stock and Warrants   2,040,100       5,823,300  
Offering Costs Paid   (443,700 )     (750,664 )
NET CASH PROVIDED BY FINANCING ACTIVITIES   2,946,400       5,072,636  
               
NET CHANGE IN CASH FOR PERIOD   2,003,963       2,986,108  
               
CASH AT BEGINNING OF PERIOD   1,515,674       398,391  
               
CASH AT END OF PERIOD $ 3,519,637     $ 3,384,499  
               
Supplemental Disclosures:              
Noncash investing & financing activities disclosure:              
Conversion of Convertible Debt for Stock $ (50,000 )   $ -  
Other noncash operating activities disclosure:              
Issuance of Common Stock for services $ 252,264     $ 51,408  
Disclosure of cash paid for:              
Interest $ 8,761     $ 50,418  
Income Taxes $ -     $ -  

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