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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net loss $ (9,911,898) $ (4,439,902)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization [1] 4,923,224 3,675,026
Credit loss expense 624,448 202,941
Inventory obsolescence 521,757 406,812
Share-based compensation 4,436,048 3,442,722
Noncash lease expense 547,297 342,972
Share of losses from equity method investments 90,007
Gain on disposal of investment (251,034)
Back-end fee 358,086
Paid-in-kind interest 838,965
Accretion of finance liabilities 210,931 98,926
Amortization and write-off of debt issuance costs 209,499 5,138
Change in fair value of earnout liabilities (1,938,451) (3,449,895)
Accrued interest income (21,978)
Changes in operating assets and liabilities:    
Accounts receivable, net (4,508,958) (1,821,895)
Accounts receivable – related parties (32,166) 90,148
Inventory, net 1,442,744 (1,545,339)
Prepaid and other assets (515,496) 496,200
Accounts payable (424,318) 531,380
Accounts payable – related parties (46,891) 43,768
Accrued royalties and expenses 574,189 (739,645)
Accrued bonuses and commissions 3,102,069 (81,513)
Operating lease liabilities (502,892) (252,366)
Net cash used in operating activities (23,784) (3,245,556)
Cash flows from investing activities:    
Purchases of property and equipment (205,848) (265,246)
Purchases of intangible assets (23,452)
Proceeds from disposal of property and equipment 650
Investment in equity securities (5,302,952)
Convertible loan receivable (1,079,391)
Acquisitions, net of cash acquired (9,942,750)
Net cash used in investing activities (6,611,643) (10,207,346)
Cash flows from financing activities:    
Loan proceeds, net of debt issuance costs of $1,160,740 in 2024 and $61,658 in 2023 29,339,260 9,688,341
Pay off line of credit (9,750,000)
Equity offering net proceeds (expenses) (75,000) 911,371
Net settlement of equity-based awards (125,205) (135,794)
Cash payment of finance and earnout liabilities (2,022,549) (822,795)
Net cash provided by financing activities 17,366,506 9,641,123
Net increase (decrease) in cash 10,731,079 (3,811,779)
Cash, beginning of period 5,147,216 8,958,995
Cash, end of period 15,878,295 5,147,216
Cash paid during the period for:    
Interest 1,580,984 283,948
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
Earnout and other liabilities generated by acquisitions $ 3,759,642
[1] Includes a $506,836 non-cash charge during the fourth quarter of 2024 to write-off the remaining net book value of certain THP internal use software assets.