XML 18 R6.htm IDEA: XBRL DOCUMENT v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net loss $ (2,761,084) $ (3,858,849)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,130,600 1,350,004
Amortization of right of use assets - financing 12,237 36,115
Amortization of right of use assets - operating lease 121,529 223,383
Stock based compensation 596,073 714,993
Derecognition of contingency and grant 0 (5,000)
Amortization of financing fees 0 3,333
Impairment and amortization of referral and support services agreement advance 0 150,000
Adjustment to expected losses on accounts receivable (17,316) (1,354,533)
Deferred income tax expense 2,676 5,353
Change in operating assets and liabilities:    
Accounts receivable 2,825,264 2,500,163
Prepaid expenses and other current assets and other assets (31,047) (36,917)
Accrued expenses and other liabilities (2,358,189) (324,358)
Accounts payable 382,182 (356,230)
Lease liability - operating lease (126,182) 239,139
Net cash used in operating activities (223,257) (1,160,170)
Investing activities:    
Purchases of equipment and capitalized development costs (858,441) (933,955)
Net cash used in investing activities (858,441) (933,955)
Financing activities:    
Proceeds from at-the-market sales 1,128,838 0
Net taxes paid on restricted stock unit grants exercised (358,960) (298,760)
Principal payments on finance lease obligations (12,237) (35,665)
Net cash provided by/(used in) financing activities 757,641 (334,425)
Net change - cash (324,057) (2,428,550)
Cash and cash equivalent, beginning of year 2,459,245 4,440,454
Cash and cash equivalent, end of period 2,135,188 2,011,904
Supplemental information:    
Interest paid 245,235 96,645
Acquisition of right of use asset for operating lease liability $ 0 $ 335,286