XML 16 R6.htm IDEA: XBRL DOCUMENT 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 $ (1,125,013) $ (3,183,528)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and intangible asset amortization expense 14,988 16,697
Share-based compensation 162,260 225,396
Provision for doubtful accounts 2,096 (9,182)
Provision for excess and obsolete inventory 60,574 (34,417)
Loss on disposal of assets 100 4,060
Amortization of operating lease ROU asset 52,893 51,061
Goodwill impairment charges 631,064
Changes in operating assets and liabilities:    
Accounts receivable (293,214) 48,153
Inventory (109,318) 10,986
Prepaid expenses and other 969,665 (1,692,816)
Accounts payable and accrued liabilities (408,634) (317,453)
Deferred revenue (3,712,659) 3,095,431
Operating lease liability, net (53,567) (39,870)
Accrued equity compensation (37,251)
Net cash provided by (used in) operating activities (4,439,829) (1,231,669)
Cash Flows From Investing Activities    
Purchases of property and equipment (13,948)
Proceeds from the sale of property and equipment 200 2,250
Net cash provided by (used in) investing activities 200 (11,698)
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
Net cash provided by financing activities 19,695,147
Net change in cash and cash equivalents (4,439,629) 18,451,781
Cash and cash equivalents, beginning of period 18,637,114 2,159,608
Cash and  cash equivalents, end of period 14,197,485 20,611,388
Supplemental cash flow information:    
Interest paid
Income taxes paid
Non-cash investing and financing activities:    
Unpaid purchases of equipment and other assets 16,400
Conversion of series B preferred stock 1,980,000
Deemed dividend on series B preferred stock arising on down round 439,999
Cashless exercise of prefunded warrants   2
Options issued for accrued equity compensation liability $ 89,970 $ 83,625