XML 12 R6.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (31,063,337) $ 13,427,676
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Services provided to unconsolidated entities (330,975) (590,248)
Depreciation 56,504 58,164
Financing fees amortization 123,520 77,443
Amortization of finance liability 486,335 71,395
Amortization of deferred discount 1,342,069 2,892,088
Note payable interest accretion 1,576,348 1,773,903
Note interest paid-in-kind ("PIK") 1,661,606 1,204,226
Right-of-use ("ROU") asset amortization 0 121,568
Share-based compensation 137,226 1,666,318
Director and consultant compensation paid in stock 246,779 246,150
Loss on equity method investment 1,510,148 96,509
Equity exchange in connection with Mexican corporate transactions 2,229,557 0
Change in fair value of derivative liabilities 16,112,283 (18,471,872)
Changes in operating assets and liabilities:    
Accounts receivable and other related party receivables 218,130 26,197
Changes in operating lease liability 0 (129,140)
Other assets 362,191 464,703
Accounts payable (240,533) 30,321
Accrued expenses and other (456,016) (554,326)
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES (6,028,165) 2,411,075
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (1,587) (88,380)
Cash paid for investment in unconsolidated entity (157,508) 0
NET CASH USED IN INVESTING ACTIVITIES (159,095) (88,380)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchase of stock-based awards withheld for payment of withholding tax requirements 0 (16,398)
Equity issuance costs (97,135) 0
Payment of debt obligations (465,138) (3,468,750)
Proceeds from warrants exercised 506,000 0
Proceeds from issuance of common stock 7,673,010  
Payment on sale leaseback financing (405,000) 0
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 7,211,737 (3,485,148)
NET INCREASE (DECREASE) IN CASH 1,024,477 (1,162,453)
CASH AT BEGINNING OF PERIOD 4,791,743 4,021,720
CASH AT END OF PERIOD 5,816,220 2,859,267
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 0 430,282
Director and consultant compensation paid in stock 246,779 246,150
NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Conversion of debt to common stock 15,535,615 1,185,701
Contribution to Phosagmex (Note 7) 1,968,855 0
Fair value adjustment of exercised warrants 615,685 0
Changes in ownership interest in a subsidiary $ 30,327,887 $ 0