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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 $ (3,335,200) $ (4,662,500)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 377,300 378,500
Stock-based compensation 530,200 1,187,300
Povision for bad debt 2,000 0
Loss on sale of investment securities 3,500 105,000
Unrealized holding (gain) on investment securities (12,700) (155,100)
Carrying value of right of use assets 167,400 136,000
Changes in operating assets and liabilities:    
Trade accounts receivable (57,800) 188,200
Inventories 88,800 (471,600)
Prepaid and other current assets (31,200) (77,100)
Income tax receivable 87,800 108,800
Accounts payable 500 (270,100)
Accrued expenses (94,200) 137,900
Contract liabilities 5,100 (126,100)
Lease liabilities (168,300) (138,900)
Net cash used in operating activities (2,436,800) (3,659,700)
Investing activities:    
Purchase of investment securities (479,000) (941,500)
Redemption of investment securities 2,121,900 3,420,300
Capital expenditures (72,200) (106,200)
Net cash provided by investing activities 1,570,700 2,372,600
Financing activities:    
Proceeds from issuance of common stock 716,800 0
Issuance costs of common stock and warrants (71,100) 0
Net cash provided by financing activities 645,700 0
Effect of changes in foreign currency exchange rates on cash and cash equivalents (15,200) 4,500
Net decrease in cash and cash equivalents (235,600) (1,282,600)
Cash and cash equivalents, beginning of period 796,100 1,927,100
Cash and cash equivalents, end of period $ 560,500 $ 644,500