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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
[1]
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ (5,437,212) $ (2,402,064)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 56,700 43,031
Unrealized loss on marketable securities (6,033) (20,359)
Stock based compensation expense 1,614,845 121,132
Provision for bad debt 0 303,879
Gain on debt forgiveness 0 (290,519)
Changes in assets and liabilities:    
Accounts receivable (1,956,906) (734,267)
Inventory (2,103,834) (792,800)
Inventory deposits (351,970) (4,514,665)
Prepaid expenses (377,107) 637,483
Other assets 158,265 0
Accounts payable (76,919) (307,488)
Accrued liabilities (194,907) (1,734,270)
Other liabilities 403,328 (226,421)
Net cash used in operating activities (8,271,750) (9,917,328)
Cash flows from investing activities:    
Purchase of property and equipment, net (90,204) (27,958)
Investment in marketable securities (2,291,036) (12,000,000)
Sale of marketable securities 8,323,461 5,000,000
Cash acquired in merger 0 3,373,332
Net cash provided by (used in) investing activities 5,942,221 (3,654,626)
Cash flows from financing activities:    
Proceeds from issuance of common stock 120,000 22,780,188
Payments for deferred offering costs 0 (188,015)
Principal repayments on debt (13,766) (309,865)
Net cash provided by financing activities 106,234 22,282,308
Net change in cash, restricted cash and cash equivalents (2,223,295) 8,710,354
Cash, restricted cash and cash equivalents at the beginning of the period 4,906,525 1,930,132
Cash, restricted cash and cash equivalents at the end of the period 2,683,230 10,640,486
Supplemental cash flow disclosures:    
Cash paid for interest expense 2,272 4,944
Cash paid for income taxes 0 2,400
Non-cash common stock lawsuit settlement $ 322,431 $ 0
[1] The Consolidated Statements of Operations for the three and nine months ended September 30, 2022 have been restated. See Note 12.