XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.2
Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (5,517,131) $ (2,913,291)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 272,391 281,928
Amortization 14,492 22,884
Amortization of right-of-use assets 169,680 193,290
Share-based compensation expense 106,526 130,536
Loan and accrued interest forgiveness on note payable 0 (821,515)
Inventory reserve 2,900 0
Changes in operating assets and liabilities:    
Accounts receivable (29,702) (33,047)
Inventory (38,811) (15,501)
Other assets 255,271 329,461
Accounts payable (74,957) 165,789
Accrued expenses and other (76,959) (1,017,803)
Lease liabilities (194,235) (210,045)
Other liabilities (23,361) 5,933
Net cash used in operating activities (5,133,896) (3,881,381)
Cash flows from investing activities:    
Purchases of property and equipment (295,058) (12,512)
Net cash used in investing activities (295,058) (12,512)
Cash flows from financing activities:    
Proceeds from issuance of common stock 16,151 31,725,645
Payments of deferred offering costs (13,905) (1,243,960)
Repayment of note payable (228,662) (40,980)
Payments under lease obligations (11,240) (10,170)
Net cash (used in) provided by in financing activities (237,656) 30,430,535
Net change in cash and cash equivalents (5,666,610) 26,536,642
Cash and cash equivalents:    
Beginning of period 24,783,029 3,322,226
End of period 19,116,419 29,858,868
Cash paid for:    
Interest 3,617 4,130
Income taxes 800 800
Non-cash financing activities:    
Prepaid insurance financed with promissory notes 417,841 470,556
Deferred offering costs included in accounts payable and accrued expenses 82,760 334,683
Conversion of convertible preferred stock to common stock $ 0 $ 55,360,897