Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows (Unaudited)

v3.25.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows From Operating Activities:    
Net loss $ (6,414,627) $ (3,810,500)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 252,244 79,198
Depreciation and amortization 934,673 253,030
Non-cash fees on asset-based loan 20,243  
Changes in operating assets and liabilities:    
Accounts receivable 366,047 524,314
Accounts receivable - related party (6,566) (104,583)
Inventory 112,744 (205,659)
Contract asset 9,332
Prepaid expenses and other assets 1,258,675 629,973
Accounts payable and accrued liabilities 255,041 (2,991,139)
Accounts payable and accrued liabilities - related party 21,172 209,292
Contract liability (16,192)
Changes in operating lease assets and liabilities 1 (2,220)
Net Cash used in Operating Activities (3,207,213) (5,418,294)
Cash Flows From Investing Activities:    
Purchase of property and equipment (2,978,308) (2,230,118)
Net Cash used in Investing Activities (2,978,308) (2,230,118)
Cash Flows From Financing Activities:    
Proceeds from issuance of common stock units 13,742,311
Proceeds from exercise of warrants 2,381,247
Proceeds from asset-based loan agreement 3,289,744 46,133
Repayment of asset-based loan agreement (417,981) (1,034,380)
Repayment of notes payable (3,059,767) (150,000)
Net Cash provided by Financing Activities 2,193,243 12,604,064
Net change in cash (3,992,278) 4,955,652
Cash, beginning of period 15,703,579 1,216,107
Cash, end of period 11,711,301 6,171,759
Supplemental cash flow information    
Cash paid for interest 5,462 152,066
Cash paid for taxes
Non-cash Investing and Financing transactions:    
Class A common stock issued for conversion of Series A convertible preferred stock $ 16,566