Sigma Labs Announces Full Year 2018 Financial Results

 

   
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      
               

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