XML 24 R8.htm IDEA: XBRL DOCUMENT v3.25.1
Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,156,629) $ (5,774,598)
Adjustments to reconcile net loss to net cash provided by (used for) operating activities:    
Depreciation 2,668,077 2,697,897
Amortization of intangible assets 19,104 19,104
Amortization of debt issuance costs and debt discounts 42,666 22,619
Stock-based compensation 325,551 368,866
Loss on disposal of property, plant and equipment 15,391 8,099
Non-cash rent (benefit) expense (149,741) 95,724
Changes in:    
Trade accounts receivable (1,585,750) (426,783)
Inventory 699,218 (1,773,302)
Prepaid expenses and other current assets 93,123 (87,830)
Other assets 24,287 18,973
Accounts payable and accrued expenses 362,606 156,995
Net cash provided by (used for) operating activities 357,903 (4,674,236)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (465,725) (1,892,513)
Proceeds from sale of property, plant and equipment 4,500 2,474
Net cash used for investing activities (461,225) (1,890,039)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from debt issuance 3,000,000
Proceeds from line of credit 2,000,000
Proceeds from At-The-Market Offering 4,648,022
Debt principal repayments (1,468,338) (1,185,774)
Line of credit repayments (2,000,000)
Payments of debt issuance costs (5,037) (35,425)
Payments of debt discounts (46,107)
Payments of equity issuance fees (291,834)
Proceeds from exercise of stock options 18,760
Net cash provided by financing activities 2,882,813 1,751,454
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 2,779,491 (4,812,821)
BEGINNING CASH AND CASH EQUIVALENTS 978,741 5,791,562
ENDING CASH AND CASH EQUIVALENTS 3,758,232 978,741
CASH PAID FOR:    
Income taxes 7,293 6,466
Interest 528,907 444,954
NON-CASH ACTIVITIES:    
Change in capital expenditures included in accounts payable and accrued expenses 4,421 50,086
Change in payments of debt discounts included in accounts payable and accrued expenses 16,566
Operating lease right-of-use asset and operating lease liability $ 103,115 $ 2,472,203