XML 19 R6.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash Flows From Operating Activities:    
Net loss $ (5,497,175) $ (1,337,923)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and intangible asset amortization expense 32,442 65,372
Gain on forgiveness of note payable (517,032)
Share-based compensation 307,736 369,214
Common stock issued for other expense 67,000
Provision for doubtful accounts (54,708) 16,844
Provision for excess and obsolete inventory (20,472) (1,666)
Gain on lease termination (15,832)
Loss on disposal of assets 4,489 67,567
Amortization of operating lease ROU asset 103,003 204,521
Goodwill impairment charges 631,064
Changes in operating assets and liabilities:    
Accounts receivable 231,504 (162,808)
Inventory 50,387 (49,551)
Prepaid expenses and other (216,202) (235,897)
Accounts payable and accrued liabilities (175,409) (476,450)
Deferred revenue 1,498,732 (884,350)
Accrued interest 2,832
Deposits (14,747)
Operating lease liability, net (91,279) (259,475)
Accrued equity compensation 6,345 (44,809)
Net cash used in operating activities (3,189,543) (3,207,190)
Cash Flows From Investing Activities    
Purchases of property and equipment (30,348) (68,657)
Proceeds from the sale of property and equipment 2,250 11,500
Net cash used in investing activities (28,098) (57,157)
Cash Flows From Financing Activities    
Payment of dividends on series B preferred stock (35,984)
Redemption of series B preferred stock (1,980,000)
Net cash proceeds on sale of common stock and warrants, net of expenses 21,711,131
Cash proceeds from sale of preferred stock and warrants, net of issuance costs 2,624,874
Proceeds from issuance of note payable 514,200
Net cash provided by financing activities 19,695,147 3,139,074
Net change in cash and cash equivalents 16,477,506 (125,273)
Cash and cash equivalents, beginning of period 2,159,608 2,284,881
Cash and cash equivalents, end of period 18,637,114 2,159,608
Supplemental cash flow information:    
Interest paid
Income taxes paid
Non-cash investing and financing activities:    
Adjustment of carrying value of series B preferred stock to redemption value 2,262,847
Conversion of series B preferred stock 1,980,000
Accrued series B interest payable settled in shares of common stock 67,447
Series A preferred stock converted into shares of common stock 420
Deemed dividend on series B preferred stock arising on down round 439,999
Dividend on redemption of series A preferred stock settled in shares of common stock 20,595
Right of Use asset arising on new office lease 582,838
Cashless exercise of prefunded warrants $ 2