XML 14 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net income/(loss) $ (3,728,727) $ (7,246,968) $ (2,807,759) $ 12,825,276  
Adjustments to reconcile net income/(loss) to net cash used in operating activities:          
Services provided to unconsolidated entities     (382,885) (438,208)  
Depreciation     36,766 289,511  
Financing fees amortization     54,290 268,673  
Amortization of finance liability     45,512 0  
Amortization of deferred discount     2,029,298 0  
Amortization of loan prepayment premium     0 116,826  
Note payable interest accretion     1,184,785 862,467  
Paid-in-Kind Interest     1,034,102 0  
Note receivable interest accretion     0 (288,991)  
Right of use asset amortization     96,512 86,917  
Share-based compensation     1,564,532 372,831  
Loss on equity method investment     347,365 0  
Gain on debt extinguishment, net of note receivable write-off 0 301,414 0 (21,177,200)  
Gain on sale of equipment     0 (40,000)  
Change in derivatives liability fair value 8,925,464 2,762,397 1,070,562 (284,489)  
Director fees settled with stock options     246,150 0  
(Increase) decrease in:          
Accounts and other related party receivables     (32,065) (997,642)  
Short-term notes receivable related party     0 (176,501)  
Change in operating lease liability     (102,561) (89,852)  
Other assets     352,475 (33,779)  
Increase (decrease) in:          
Accounts payable     (30,245) (1,056,107)  
Accrued expenses and other     (741,073) 2,189,782  
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES     3,965,761 (7,570,486)  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Proceeds from sale of equipment     0 40,001 $ 4,500,000
Purchase of property and equipment     (84,350) (895,856)  
Proceeds from related party     0 1,000,000  
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES     (84,350) 144,145  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from issuance of loans payable     0 15,067,746  
Repurchase of stock-based awards withheld for payment of withholding tax requirements     (16,398) 0  
Offering Cost Paid on Financing     0 (98,504)  
Payment of debt obligation     (310,737) (11,139,244)  
Proceeds from sale leaseback financing, net     0 4,050,000  
Payment on sale leaseback financing     0 (65,000)  
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES     (327,135) 7,814,998  
NET INCREASE/(DECREASE) IN CASH     3,554,276 388,657  
CASH AT BEGINNING OF PERIOD     4,021,720 1,443,421 1,443,421
CASH AT END OF PERIOD $ 7,575,996 $ 1,832,078 7,575,996 1,832,078 $ 4,021,720
SUPPLEMENTAL CASH FLOW INFORMATION:          
Interest paid     $ 399,465 $ 134,717  
NON-CASH INVESTING AND FINANCING TRANSACTIONS:          
Conversion of debt to common stock     0 1,000,000  
Warrants Issued     $ 0 $ 3,536,154  
Director compensation settled with equity     $ 246,150 $ 0