XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows from Operating Activities    
Net loss $ (2,024,465) $ (1,640,343)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 24,560 29,105
Issuance of common stock for services 4,500 0
Stock-based compensation 183,200 214,924
Gain on foreign currency translation 0 824
Increase in inventory reserve 50,000 0
Changes in operating assets and liabilities:    
Accounts receivable (19,532) (26,188)
Unbilled accounts receivable (277,056) (754,290)
Other receivables 5,588 (308,374)
Inventory (374,981) (127,309)
Prepaid expenses (340,280) 23,285
Accounts payable and accrued expenses 183,424 (581,582)
Accrued contract loss provision 100,000 0
Unearned revenue 2,768 5,000
Other liabilities (26,379) (13,528)
Net Cash Used In Operating Activities (2,508,653) (3,178,176)
Cash Flows from Investing Activities    
Purchase of equipment 0 (7,303)
Increase in intangible assets (590) (2,705)
Cash Used In Investing Activities (590) (10,008)
Proceeds from the sale of common stock 0 8,294,708
Cash Provided by Financing Activities 0 8,294,708
Net (Decrease) Increase in Cash (2,509,243) 5,106,224
Cash, Beginning of the Period 10,445,404 4,046,937
Cash, End of the Period 7,936,161 9,153,161
SUPPLEMENTAL CASH FLOW DISCLOSURES:    
Cash paid for interest 0 0
Cash paid for taxes $ 0 $ 0