Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows From Operating Activities:    
Net loss $ (6,942,640) $ (4,788,189)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 806,754 1,209,000
Depreciation 79,385 171,117
Lease liability amortization (4,394) (2,710)
Changes in operating assets and liabilities:    
Accounts receivable 156,130 (1,017,206)
Accounts receivable - related party 54,696 77,044
Inventory (537,523) (156,883)
Contract asset (60,933)
Contract asset - related party (15,956)
Prepaid expenses and other assets (1,483,918) (705,423)
Accounts payable and accrued liabilities 1,732,714 239,545
Accounts payable and accrued liabilities - related party (465) 32,634
Contract liability 60,932
Contract liability - related party 15,956 (63,411)
Net Cash used in Operating Activities (6,139,261) (5,004,483)
Cash Flows From Investing Activities:    
Purchase of property and equipment (2,614,169) (858,520)
Net Cash used in Investing Activities (2,614,169) (858,520)
Cash Flows From Financing Activities:    
Proceeds from issuance of common stock units 14,787,511
Proceeds from asset-based loan agreement 2,881,228
Repayment of asset-based loan agreement (3,167,195)
Repayment of notes payable (179,524) (134,000)
Payment of lease liabilities (148,019)
Repayment of notes payable - related party (797,505)
Net Cash provided by (used in) Financing Activities 14,322,020 (1,079,524)
Net change in cash 5,568,590 (6,942,527)
Cash, beginning of period 2,295,259 13,710,845
Cash, end of period 7,863,849 6,768,318
Supplemental cash flow information    
Cash paid for interest 155,365 105,767
Cash paid for taxes
Non-cash Investing and Financing transactions:    
Debt forgiveness 1,624,755
Modification of right-of-use asset and lease liability $ 135,235