XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities    
Net loss $ (1,640,343) $ (872,858)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 29,105 16,458
Stock based compensation 214,924 97,558
Change in foreign currency translation 824 0
Changes in operating assets and liabilities:    
Accounts receivable (26,188) 0
Unbilled accounts receivable (754,290) 0
Other accounts receivable (308,374) 0
Inventory (127,309) 0
Prepaid expenses 23,285 (50,599)
Accounts payable and accrued expenses (581,582) 81,059
Deferred revenue 5,000 763,333
Other liabilities (13,528) (20,238)
Cash Provided by (Used In) Operating Activities (3,178,476) 115,911
Cash Flows from Investing Activities    
Purchase of equipment (7,303) (3,291)
Increase in intangible assets (2,705) 0
Cash Provided by (Used In) Investing Activities (10,008) (3,291)
Cash Flow from Financing Activities    
Proceeds from the issuance of common stock 8,294,708 0
Cash Provided by Financing Activities 8,294,708 0
Net Increase in Cash 5,106,224 112,620
Cash, Beginning of the Period 4,046,937 11,131,175
Cash, End of the Period 9,153,161 11,243,795
NON-CASH FINANCING ACTIVITIES    
Conversion of preferred stock to common stock $ 0 $ 133