XML 33 R7.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net Income (Loss) Attributable to Parent $ (4,469,498) $ (3,140,621)
Adjustments to reconcile net income (loss) to net cash used for operating activities:    
(Gain) on the forgiveness of debt 0 (1,927,220)
(Gain) on sale of digital assets 0 (189,307)
Impairment of digital assets 148,310 3,412
Depreciation 109,599 130,478
Amortization 718,562 958,640
Stock-based compensation 610,772 878,739
Bad debt 125,000 147,329
Value of stock issued or to be issued for payment of services (125,000) (147,329)
(Gain)/Loss on disposal of equipment (7,674) (22,022)
Bad debt 0 11,250
Changes in operating assets and liabilities:    
Accounts receivable 1,934,376 (2,403,148)
Prepaid expenses and other current assets (1,635,990) (2,090,798)
Accounts payable (118,570) (224,083)
Accrued expenses (381,650) 597,127
Contract liabilities (90,349) 4,703,225
Net cash used for operating activities (3,057,112) (2,566,999)
Cash flows from investing activities:    
Purchase of short term investments (159,046,221) 0
Proceeds from the sale of short term investments 142,807,176 0
Purchase of long term investments (41,069,876) 0
Proceeds from the sale of long term investments 11,125,299 0
Purchase of property and equipment, net (79,006) (63,046)
Proceeds from sale of property and equipment 36,716 30,324
Purchase of digital assets 0 223,228
Proceeds from the sale of digital assets 0 (216,675)
Increase in software development costs (1,472,995) 0
Net cash used for investing activities (47,698,907) (26,169)
Cash flows from financing activities:    
Proceeds from Issuance of Common Stock 0 46,544,688
Proceeds from Stock Options Exercised 32,543 69,589
Repayments of Notes Payable (31,648) (30,261)
Payments of Stock Issuance Costs 0 (1,094,929)
Payment, Tax Withholding, Share-based Payment Arrangement (77,211) (507,849)
Net cash provided by financing activities (76,316) 44,981,238
Net increase (decrease) in cash and cash equivalents (50,832,335) 42,388,070
Cash and cash equivalents, beginning of period 75,433,295 33,045,225
Cash and cash equivalents, end of period 24,600,960 75,433,295
Supplemental cash flow information:    
Interest paid 0 9,968
Non-cash financing and investing activities:    
Fair Value of Assets Acquired 61,224 0
Fair value of common stock issued for future services 125,000 147,329
PPP loan forgiveness $ 0 $ 1,927,220