Sigma Labs Reports Second Quarter 2019 Financial Results

Condensed Statements of Cash Flows
(Unaudited)

  Six Months Ended  
  June 30, 2019     June 30, 2018  
OPERATING ACTIVITIES       
Net Loss$(3,077,603) $(2,559,680)
Adjustments to reconcile Net Loss to Net Cash used in operating activities:       
Noncash Expenses:       
Depreciation and Amortization 97,586   95,574 
Stock Based Compensation 474,150   594,915 
Loss on Write-off of Asset -   36,733 
Change in assets and liabilities:       
Accounts Receivable 818   41,028 
Interest Receivable 27,038   38,139 
Inventory (330,340)  47,100 
Prepaid Assets (1,463)  (9,613)
Accounts Payable 150,567   187,495 
Deferred Revenue 27,275   34,026 
Accrued Expenses (105,678)  21,764 
NET CASH USED IN OPERATING ACTIVITIES   (2,737,650 )     (1,472,519 )
               
INVESTING ACTIVITIES              
Purchase of Property and Equipment   (23,796 )     (41,968 )
Purchase of Intangible Assets   (107,124 )     (60,147 )
Payment Received from Notes Receivable   15,000       632,197  
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES   (115,920 )     530,082  
               
FINANCING ACTIVITIES              
Proceeds from issuance of Series B Preferred & Warrants   -       1,000,000  
Proceeds from issuance of Series C Preferred & Warrants   -       350,000  
Gross Proceeds from issuance of Common Stock and Warrants   2,521,220       2,040,100  
Less Offering Costs   (326,890 )     (443,700 )
Proceeds from exercise of Warrants   75,848       -  
NET CASH PROVIDED BY FINANCING ACTIVITIES   2,270,178       2,946,400  
               
NET CHANGE IN CASH FOR PERIOD   (583,392 )     2,003,963  
               
CASH AT BEGINNING OF PERIOD   1,279,782       1,515,674  
               
CASH AT END OF PERIOD $ 696,390     $ 3,519,637  
               
Supplemental Disclosures:              
Noncash investing and financing activities disclosure:              
Conversion of Convertible Debt for Stock $ -       (50,000 )
Other noncash operating activities disclosure:              
Issuance of Common Stock for services $ 153,000     $ 256,264  
Disclosure of cash paid for:              
Interest $ 2,514     $ 8,761  
Income Taxes $ -     $ -  

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