Table:
|  | 2019 | 2018 |
| --- | --- | --- |
| Net cash provided by (used in) operating activities | $(1,660,796) | $792,555 |
| Net cash used in investing activities | (10,582,086) | (5,686,833) |
| Net cash provided by financing activities | 22,181,528 | 8,685,739 |
| Net increase in cash and cash equivalents | $9,938,646 | $3,791,461 |
Paragraphs:
Liquidity and Capital Resources
As of December 31, 2019, we had total current assets of approximately $27.1 million, compared with current liabilities of approximately $6.1 million, resulting in working capital of approximately $21.0 million and a current ratio of approximately 4.4 to 1. This compares with the working capital balance of approximately $11.5 million and the current ratio of 3.7 to 1 at December 31, 2018. This increase in working capital, as discussed in more detail below, is primarily the result of the capital we raised in 2019.
Following is a table with summary data from the consolidated statement of cash flows for the years ended December 31, 2019 and 2018, as presented.
Our operating activities used approximately $1.7 million in the year ended December 31, 2019, as compared with approximately $0.8 million provided by operating activities in the year ended December 31, 2018. The cash provided in 2018 was the result of our net income and non-cash expenses, partially offset by the increased working capital required to support higher revenues. The cash used in operations in 2019 was the result of increased levels of working capital required to support higher revenue levels, expenditures related to growth, and costs associated with our acquisition in 2019.
We used approximately $5.7 million in investing activities in the year ended December 31, 2018, as compared with approximately $10.6 million used in investing activities in the year ended December 31, 2019. The majority of the investing activities in 2018 related to our acquisition of CareSpeak communications in October 2018. The majority of investing in activities in 2019 related to our acquisitions of RMDY Health, Inc. in 2019, as well as a software purchase in 2019.
Financing activities provided $8.7 million in the year ended December 31, 2018, as compared with $22.2 million in the year ended December 31, 2019. The cash provided in 2018 was primarily the result of the equity raised in connection with our uplisting to Nasdaq, as well as from the proceeds of option exercises. The cash used in 2019 was the result of our underwritten offering in 2019, as well as from the proceeds of option exercises.
With our cash on hand, we have sufficient cash to operate our business for more than the next 12 months and we do not anticipate the need to raise additional equity for operating purposes.
Question:
What were the net increases in cash and cash equivalents in 2018 and 2019, respectively?
Answer: $3,791,461, $9,938,646