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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (4,177,458) $ (3,928,843)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,580,243 1,556,752
Loss on disposal of property and equipment 2,876
Bad debt expense 214,061 220,000
Inventory obsolescence 222,691 289,406
Share-based compensation 2,582,163 1,971,537
Noncash lease expense 243,988 189,409
Loss on equity method investment 379,633
Benefit from deferred income taxes (5,844,796)
Accretion of finance liabilities 39,699
Amortization of debt issuance costs 2,055 (0)
Change in fair value of earnout liabilities (1,494,910) 173,116
Changes in operating assets and liabilities:    
Accounts receivable, net (794,344) (754,934)
Accounts receivable – related party 87,516 10,920
Inventory, net (1,664,714) (451,838)
Prepaid and other assets 482,921 (69,490)
Accounts payable 547,186 (800,788)
Accounts payable – related parties 30,711 (126,812)
Accrued royalties and expenses 557,295 947,130
Accrued bonuses and commissions (1,673,629) 1,516,858
Operating lease liabilities (182,498) (189,990)
Net cash used in operating activities (2,397,024) (4,909,854)
Cash flows from investing activities:    
Purchases of property and equipment (210,970) (93,651)
Proceeds from disposal of property and equipment 650 894
Purchases of intangible assets (600,000)
Investment in equity securities (250,000)
Acquisitions, net of cash acquired (9,942,750) (2,191,919)
Net cash used in investing activities (10,153,070) (3,134,676)
Cash flows from financing activities:    
Loan proceeds, net 9,688,341
Equity offering net proceeds 1,033,761
Net settlement of equity-based awards (150,296) (102,931)
Cash payment of finance and earnout liabilities (744,795)
Distribution to noncontrolling interest member (220,000)
Net cash provided by (used in) financing activities 9,827,011 (322,931)
Net decrease in cash (2,723,083) (8,367,461)
Cash, beginning of period 8,958,995 18,652,841
Cash, end of period 6,235,912 10,285,380
Cash paid during the period for:    
Interest 146,546
Supplemental noncash investing and financing activities:    
Right of use assets obtained in exchange for lease obligations 1,531,773
Equity issued for acquisitions 3,089,645 15,738,518
Earnout and other liabilities generated by acquisitions 3,759,642 6,882,151
Investment in equity securities converted in asset acquisition $ 1,803,440