XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (2,883,030) $ (1,830,232)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 136,769 141,202
Amortization 7,430 12,251
Amortization of right-of-use assets 86,233 98,256
Inventory reserve 2,700 0
Share-based compensation expense 44,359 72,490
Changes in operating assets and liabilities:    
Accounts receivable (86,044) 30,043
Inventory (17,438) (12,679)
Other assets 18,553 63,081
Accounts payable 102,855 171,665
Accrued expenses and other (38,559) 194,506
Lease liabilities (97,851) (105,986)
Other liabilities (29,998) 4,721
Net cash used in operating activities (2,754,021) (1,160,682)
Cash flows from investing activities:    
Purchases of property and equipment (120,368) 0
Net cash used in investing activities (120,368) 0
Cash flows from financing activities:    
Payments of deferred offering costs 0 (126,377)
Proceeds from issuance of common stock 0 10,050
Repayment of note payable (135,457) (23,643)
Payments under lease obligations (5,549) (5,021)
Net cash used in financing activities (141,006) (144,991)
Net change in cash and cash equivalents (3,015,395) (1,305,673)
Cash and cash equivalents:    
Beginning of period 24,783,029 3,322,226
End of period 21,767,634 2,016,553
Cash paid for:    
Interest 2,734 1,845
Income taxes 800 0
Non-cash financing activities:    
Deferred offering costs included in accounts payable and accrued expenses 0 526,476
Prepaid insurance financed with promissory notes $ 45,666 $ 41,199