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Consolidated Statements of Cash Flows - USD ($)
9 Months Ended 12 Months Ended
Dec. 31, 2023
Dec. 31, 2024
Cash flows from operating activities    
Net loss $ (6,398,000) $ (24,367,000)
Adjustments to reconcile net loss to net cash (used in), provided by operating activities:    
Depreciation 287,000 192,000
Amortization of intangible assets 30,000
Impairment of goodwill from purchase of SemiCab Inc 3,592,000
Impairment on note receivable - SCMB 439,000
Reduction in SMCB loan in exchange for services 637,000
Provision for estimated cost of returns (1,364,000) 299,000
Change in fair value of warrant liability (334,000)
Loss on issuance of warrants 8,889,000
Amortization of debt discount and issuance costs 1,520,000
Provision for inventory obsolescence 1,798,000 918,000
Reserve for sales returns 2,490,000 (35,000)
Credit losses 8,000 14,000
Non-cash effect on termination of operating lease (280,000)
Net gain from disposal of property and equipment (44,000)
Stock based compensation 110,000 630,000
Amortization of right of use assets 510,000 236,000
Changes in operating assets and liabilities:    
Accounts receivable (5,241,000) 3,114,000
Accounts receivable - related parties (30,000) 57,000
Inventories 415,000 3,767,000
Prepaid expenses and other current assets 215,000 29,000
Other non-current assets 76,000
Accounts payable 5,847,000 (4,540,000)
Accrued expenses 348,000 (1,076,000)
Prepaids from customers 103,000
Refunds due to customers 1,743,000 (2,392,000)
Operating lease liabilities (462,000) 105,000
Net cash (used in) provided by operating activities 411,000 (8,556,000)
Cash flows from investing activities    
Purchase of property and equipment (68,000) (70,000)
Pre Acquistion advances to SemiCab (415,000)
Cash received from purchase of SemiCab Inc 17,000
Disposal of property and equipment 54,000
Advances to SMCB (1,777,000)
Net cash used in investing activities (14,000) (2,245,000)
Cash flows from financing activities    
Proceeds from sale of common stock and warrants, net of offering costs 3,529,000 12,932,000
Payments on merchant cash advances payable (631,000)
Proceeds from issuance of senior secured notes, net of discounts 2,000,000
Payment of senior secured notes (2,353,000)
Payment of debt issuance costs (225,000)
Other (118,000) (75,000)
Net cash provided by financing activities 3,411,000 11,648,000
Net change in cash 3,808,000 847,000
Cash at beginning of year 2,895,000 6,703,000
Cash at end of period 6,703,000 7,550,000
Supplemental disclosures of cash flow information:    
Cash paid for interest 44,000 591,000
Non-Cash investing and financing cash flow information:    
Common stock and subsidiary interests issued for purchase of SemiCab Inc 568,000
Right of use assets exchanged for lease liabilities 3,874,000 136,000
Issuance of common stock with debt 943,000
Repurchase of common shares - related parties 758,000
Effect of extinguishment of advances to SemiCab Inc. $ 415,000