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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows used in operating activities:    
Net loss $ (11,027,640) $ (399,535)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 616,704 719,312
Amortization of right-of-use assets 133,057 99,819
Amortization of debt issuance costs 53,404 25,708
Amortization of sales contract costs 28,814 22,738
Stock-based compensation 972,056 773,717
Provision for accounts receivable allowances 98,984
Provision for inventory reserves 839,012 118,927
Non-cash loan forgiveness (20,000)
Changes in operating assets and liabilities:    
Accounts receivable (1,428,785) (2,375,552)
Inventories 2,739,413 (6,856,073)
Prepaid expenses and other current assets 260,376 (52,587)
Other assets 48,846 (88,814)
Accounts payable (5,523,817) (821,096)
Accrued expenses 341,615 (2,199,616)
Deferred revenue 518,975 1,140,067
Operating lease liabilities (133,728) (99,684)
Net cash used in operating activities (11,462,714) (10,012,669)
Cash flows from investing activities:    
Purchases of equipment (252,624) (546,047)
Certification costs capitalized (345,983) (88,708)
Net cash used in investing activities (598,607) (634,755)
Cash flows from financing activities:    
Net proceeds from the SVB bank credit line 726,081 7,092,509
Costs associated with bank credit line (92,905)
Repayment of the Rosenthal bank credit line (2,442,246)
Repayment of government loan (34,252)
Net proceeds from public offering 22,730,049
Proceeds from stock option exercises 236,803 1,152,259
Net cash provided by financing activities 928,632 28,439,666
Net decrease in cash and cash equivalents (11,132,689) 17,792,242
Cash, cash equivalents, and restricted cash – Beginning 13,070,445 1,571,757
Cash, cash equivalents, and restricted cash – Ending 1,937,756 19,363,999
Cash paid during the period for:    
Interest 263,097 187,662
Income taxes $ 73,026 $ 41,122