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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (3,527,383) $ (1,799,043)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,124,410 1,105,420
Gain on disposal of property and equipment (9,674)
Credit loss expense 179,034 65,000
Inventory obsolescence 199,278 95,235
Share-based compensation 1,304,904 803,386
Noncash lease expense 274,055 100,517
Share of losses from equity method investments 143,608
Back-end fee 176,079
Paid-in-kind interest 411,324
Accretion of finance liabilities 43,630 58,834
Amortization and write-off of debt issuance costs 59,280 3,083
Change in fair value of earnout liabilities (65,678)
Changes in operating assets and liabilities:    
Accounts receivable, net 368,284 (735,490)
Accounts receivable – related parties (2,254) (14,602)
Inventory, net (605,628) 393,148
Prepaid and other assets 32,759 (303,182)
Accounts payable 595,836 (732,266)
Accounts payable – related parties 10,892 9,311
Accrued royalties and expenses 67,224 300,574
Accrued bonuses and commissions (2,566,461) (783,390)
Operating lease liabilities (278,081) (95,227)
Net cash used in operating activities (1,998,884) (1,594,370)
Cash flows from investing activities:    
Purchases of property and equipment (1,722,649) (65,818)
Proceeds from disposal of property and equipment 60,000
Investment in equity securities (3,517,206)
Net cash used in investing activities (5,179,855) (65,818)
Cash flows from financing activities:    
Loan proceeds, net of debt issuance costs of $183,750 in 2025 and zero in 2024 12,066,250
Net settlement of equity-based awards (580,794)
Cash payment of finance and earnout liabilities (78,000) (78,000)
Net cash provided by (used in) financing activities 11,988,250 (658,794)
Net increase (decrease) in cash 4,809,511 (2,318,982)
Cash, beginning of period 15,878,295 5,147,216
Cash, end of period 20,687,806 2,828,234
Cash paid during the period for:    
Interest 626,779 205,591
Supplemental noncash investing and financing activities:    
Nonmonetary exchange to acquire intangible assets 2,084,278
Conversion of note receivable into equity method investment $ 1,101,478