Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows From Operating Activities:    
Net loss $ (3,810,500) $ (3,441,059)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 79,198 566,229
Depreciation and amortization 253,030 3,361
Changes in operating assets and liabilities:    
Accounts receivable 524,314 (621,104)
Accounts receivable - related party (104,583) (138,506)
Inventory (205,659) (222,852)
Contract asset - related party (6,877)
Prepaid expenses and other assets 629,973 (1,122,400)
Accounts payable and accrued liabilities (2,991,139) 1,515,926
Accounts payable and accrued liabilities - related party 209,292 (24,645)
Contract liability - related party 6,877
Changes in operating lease assets and liabilities (2,220) (2,956)
Net Cash used in Operating Activities (5,418,294) (3,488,006)
Cash Flows From Investing Activities:    
Purchase of property and equipment (2,230,118) (1,147,409)
Net Cash used in Investing Activities (2,230,118) (1,147,409)
Cash Flows From Financing Activities:    
Proceeds from issuance of common stock units 13,742,311 4,615,465
Proceeds from asset-based loan agreement 46,133 1,857,524
Repayment of asset-based loan agreement (1,034,380) (1,221,613)
Repayment of notes payable (150,000) (92,483)
Net Cash provided by Financing Activities 12,604,064 5,158,893
Net change in cash 4,955,652 523,478
Cash, beginning of period 1,216,107 2,295,259
Cash, end of period 6,171,759 2,818,737
Supplemental cash flow information    
Cash paid for interest 152,066 48,402
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