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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows used in operating activities:    
Net loss $ (2,198,667) $ (3,858,415)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 957,490 235,771
Amortization of right-of-use assets 145,143 136,404
Amortization of debt issuance costs 41,586
Amortization of sales contract costs 32,343
Stock-based compensation 996,937 440,856
Provision for (recovery of) accounts receivable allowances 63,217 (102,631)
Provision for inventory reserves 643,671
Non-cash loan forgiveness (20,000) (1,057,330)
Changes in operating assets and liabilities:    
Accounts receivable 4,259,454 (4,969,826)
Inventories (18,030,117) (8,871,803)
Prepaid expenses and other current assets (188,766) (129,381)
Other assets (92,161) (142,017)
Accounts payable 862,453 6,673,914
Accrued expenses (2,261,266) 4,686,050
Deferred revenue 661,826
Operating lease liabilities (145,410) (135,466)
Net cash used in operating activities (14,272,267) (7,093,874)
Cash flows from investing activities:    
Cash acquired from merger (Note 4) 501,845
Purchases of equipment (593,120) (302,519)
Certification costs incurred and capitalized (88,708) (460,577)
Capitalized software costs (316,838)
Net cash used in investing activities (681,828) (578,089)
Cash flows from financing activities:    
Net proceeds from the SVB bank credit line 5,166,289
Proceeds (repayment) of the Rosenthal bank credit line (2,442,246) 2,442,246
Costs associated with bank credit line (142,801)
Proceeds from (repayment of) government loan (26,232) 583,300
Proceeds from private placement offering, net of offering costs 3,163,370
Proceeds from public offering, net of offering costs 22,730,049
Proceeds from stock option exercises 1,167,724 1,171,621
Proceeds from profit disgorgement 196,000
Proceeds from non-recourse promissory notes issued by Zoom Connectivity option holders (Note 4) 320,290
Net cash provided by financing activities 26,452,783 7,876,827
Net change in cash, cash equivalents, and restricted cash 11,498,688 204,864
Cash, cash equivalents, and restricted cash – Beginning 1,571,757 1,366,893
Cash, cash equivalents, and restricted cash – Ending 13,070,445 1,571,757
Cash paid during the period for:    
Interest 270,407 48,473
Income taxes 63,773 26,716
Non-cash financing activities:    
Net share settlement from non-recourse promissory notes issued by Zoom Connectivity option holders (Note 4) 230,332
Repurchase of Zoom Connectivity common stock (Note 4) (14,860)
Cash is reported on the consolidated statements of cash flows as follows:    
Cash and cash equivalents 12,570,445 771,757
Restricted cash 500,000 800,000
Total cash, cash equivalents, and restricted cash $ 13,070,445 $ 1,571,757