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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
OPERATING ACTIVITIES    
Net loss $ (5,367,825) $ (4,560,056)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 757,695 747,485
Amortization of debt discount 71,293
Loss on investment 993 8,400
Amortization of right-of-use asset 1,493,560 1,063,591
Write-down of obsolete and slow-moving inventory 1,484,648 951,373
Stock-based compensation expense 2,261,833 1,176,750
Change in contingent consideration (402,900)
Changes in operating assets and liabilities:    
Accounts receivable (29,164) (36,834)
Inventories (1,253,005) (899,251)
Prepaid expenses and vendor deposits 449,261 (670,178)
Other current assets (31,586) 219,362
Other assets 40,973 (5,230)
Accounts payable and accrued expenses (845,210) (197,306)
Contract liabilities (84,138) (51,137)
Lease liability (1,420,742) (1,002,484)
NET CASH USED IN OPERATING ACTIVITIES (2,471,414) (3,658,415)
INVESTING ACTIVITIES    
Collection of note receivable 32,928
Purchases of property and equipment (164,164) (148,027)
NET CASH USED IN INVESTING ACTIVITIES (164,164) (115,099)
FINANCING ACTIVITIES    
Payments for deferred offering costs (446,088) (218,865)
Proceeds from security purchase agreement 1,700,000
Principal payments on loan payable (346,094) (264,670)
Payment of induced conversions of preferred stock (152,500)
Payment for Series E preferred stock redemption (11,170,428)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 907,818 (11,806,463)
NET DECREASE IN CASH, CASH EQUIVALENT AND RESTRICTED CASH (1,727,760) (15,579,977)
CASH, CASH EQUIVALENT AND RESTRICTED CASH— BEGINNING OF PERIOD 5,634,318 24,690,124
CASH, CASH EQUIVALENT AND RESTRICTED CASH — END OF PERIOD 3,906,558 9,110,147
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest 238,595 87,008
Cash paid for income tax
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Non-cash deferred offering cost 673,695 384,614
Issuance of common stock in connection with series E preferred stock conversion 1,585,000
Right-of-use assets obtained in exchange for operating lease liabilities 1,093,290
1% stated value reduction on preferred stock redemption 22,222
Issuance of common stock $ 100,000