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Condensed Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (8,284,084) $ (5,839,765)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 133,028 264,040
Amortization 5,828 2,325
Amortization of right-of-use assets 299,171 148,541
Loss on disposal of assets 0 44,538
Inventory reserve write-off 2,830 1,770
Share-based compensation expense 181,598 122,170
Amortization of debt issuance costs and discount 544,363 0
Changes in operating assets and liabilities:    
Accounts receivable 6,371 (78,276)
Inventory (651,292) (146,521)
Prepaid and other assets (173,828) 154,065
Accounts payable (223,682) 36,119
Accrued expenses (557,944) 80,116
Lease liabilities (137,482) (181,065)
Other liabilities (39,657) 3,119
Net cash used in operating activities (8,894,780) (5,388,824)
Cash flows from investing activities:    
Acquisition of patents (50,145) 0
Purchases of property and equipment (246,978) (71,849)
Net cash used in investing activities (297,123) (71,849)
Cash flows from financing activities:    
Proceeds from the issuance of common stock and warrants in April 2023 Financing 0 3,899,813
Equity issuance costs for April 2023 Financing 0 (547,764)
Proceeds from exercise of pre-funded warrants 0 188
Proceeds from common stock issued through ESPP and exercised options 10,390 1,697
Proceeds from at-the-market sales of common stock 1,021,994 3,373
Issuance costs for at-the-market sales of common stock (30,660) 0
Repayment of note payable 0 (141,298)
Payments under lease obligations 0 (12,255)
Net cash provided by financing activities 1,001,724 3,203,754
Net change in cash and cash equivalents (8,190,179) (2,256,919)
Cash and cash equivalents:    
Beginning of period 21,716,077 12,961,936
End of period 13,525,898 10,705,017
Cash paid for:    
Interest 0 1,870
Taxes 4,550  
Non-cash investing and financing activities:    
Property and equipment costs included in accounts payable and accrued expense 37,370 0
Commissions costs relating to certain proceeds from issuance of common stock 0 6,163
Deferred offering costs reclassified to additional paid-in-capital $ 1,586 $ 0