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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows From (Used In) Operating Activities    
Net Loss $ (30,268,511) $ (30,004,667)
Non-Cash Adjustments    
Depreciation and Amortization 3,620,585 1,825,766
Stock-Based Compensation 9,797,274 12,016,334
Impairment of Patents and Trademarks 41,869 97,676
Change in Inventory Reserve for Obsolescence 485,183  
(Increase) Decrease in Operating Assets    
Accounts Receivable (3,392,963) (875,607)
Accrued Revenues in Excess of Billings (168,146) (393,250)
Employee Retention Credit Receivable 466,705  
Inventories (519,092) (77,490)
Manufacturing Vendor Prepayments 377,642 73,330
Prepaid Expenses and Other Assets (295,566) (417,298)
Increase (Decrease) in Operating Liabilities    
Accounts Payable 641,516 141,828
Accrued Expenses (832,290) (244,935)
Unearned Revenue 73,086 (3,425)
Income and Other Taxes Payable (160,935) (73,637)
Net Cash Flows Used in Operating Activities (20,133,643) (17,935,375)
Cash Flows From (Used In) Investing Activities    
Purchases of Fixed Assets (3,608,801) (5,203,562)
Investments in Patents and Trademarks (497,901) (362,981)
Investments in Licenses, Intangibles and Other Assets (9,500,000) (6,125,000)
Investments in Software Development (125,000)  
Investments in Other Assets (200,000)  
Net Cash Flows Used in Investing Activities (13,931,702) (11,691,543)
Cash Flows From (Used In) Investing Activities    
Proceeds from Exercise of Stock Options 21,196 48,505
Purchases of Treasury Stock (470,757) (251,057)
Net Cash Flows Used in Financing Activities (449,561) (202,552)
Net Decrease in Cash and Cash Equivalents (34,514,906) (29,829,470)
Cash and Cash Equivalents - Beginning of Period 72,563,943 120,203,873
Cash and Cash Equivalents - End of Period 38,049,037 90,374,403
Supplemental Disclosures    
Unamortized Common Stock Expense included in Prepaid Expenses and Other Assets 1,126,777 1,204,942
Non-Cash Investment in Licenses 2,000,000 9,000,000
Stock-Based Compensation Expense - Expensed less Previously Issued $ 133,584 $ (71,502)