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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income (loss) $ 287,967 $ (5,736,603)
Adjustments to reconcile net income (loss) to net cash used in operating activities    
Depreciation and amortization 42,235 350,452
Non-cash interest expense 456,679
Gain on impairment adjustment (2,079,575)
Stock compensation expense 188,237 211,122
Change in inventory reserve (13,240) 256,814
Loss on deconsolidation of subsidiaries 75,138
Change in fair value of derivative liabilities (12,694)
Change in fair value of EIB loan guaranty 46,584
Changes in operating assets and liabilities    
Accounts receivable 65,348 (142,177)
Inventory 13,240 (195,029)
Other assets 97,622 3,498
Accounts payable 80,426 (157,139)
Accrued compensation and other liabilities 129,323 100,388
Deferred revenue (17,355) (97,929)
Net cash used in operating activities (1,084,050) (4,962,618)
Cash flows from investing activities    
Purchases of property and equipment (330,446)
Net cash used in investing activities (330,446)
Cash flows from financing activities    
Proceeds from issuance of common stock and pre-funded warrants, net of issuance costs 6,974,050
Proceeds from issuance of preferred stock 200,000
Payments on debt (2,229,560)
Payments on finance lease obligations (280) (841)
Net cash provided by financing activities 199,720 4,743,649
Effects of exchange rates on cash 150,186
Net decrease in cash and cash equivalents and restricted cash (884,330) (399,229)
Cash and cash equivalents and restricted cash at beginning of period 1,454,085 7,935,659
Cash and cash equivalents and restricted cash at end of period 569,755 7,536,430
Supplemental disclosure of cash flow information    
Cash paid for interest 56,320
Supplemental disclosures of noncash investing and financing activities    
Right-of-use assets acquired through operating leases $ 801,321