v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net loss $ (4,750,691) $ (2,326,332)
Adjustment to reconcile net loss to net cash used in operating activities:    
Equity in losses of investment 1,534
Bad debt 12,450 252,809
Stock-based compensation expense 681,419 161,165
Depreciation and amortization 1,171,022 17,899
Foreign currency loss 4,901
Change in fair value of convertible notes (778,000)
Change in fair value of contingent consideration (389,000)
Changes in operating assets and liabilities:    
Accounts receivable (9,298) (1,508,217)
Prepaid expenses and other current assets (74,023) (292,272)
Accounts payable and accrued liabilities (296,802) 274,566
Deferred revenue 245,329 278,208
Net cash used in operating activities (4,181,159) (3,142,174)
Cash flows from investing activities    
Developed software additions (624,863) (519,739)
Furniture, fixtures, and equipment additions (12,203)
Cash paid for business combination, net of cash acquired (5,067,740)
Net cash used in investing activities (5,704,806) (519,739)
Cash flows from financing activities    
Cash paid for deferred stock offering costs (12,668)
Cash received in connection with exercise of warrants 4,242,454
Net cash (used in) provided by financing activities (12,668) 4,242,454
Effect of exchange rate changes on cash and restricted cash 663
Net change in cash and restricted cash (9,897,970) 580,541
Cash and restricted cash - beginning of period 24,655,828 22,367,289
Cash and restricted cash - end of period 14,757,858 22,947,830
Interest Paid, Excluding Capitalized Interest, Operating Activities 1,974
Supplemental disclosure of non-cash investing and financing activity:    
Capitalized software included in accrued expense 807,218
Acquisition of noncontrolling interest 4,695,437
Special voting preferred stock issued in business combination 4,798,271
Conversion of exchangeable shares to common stock $ 25,203,490

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