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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Loss $ (8,103,522) $ (4,689,967)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation and amortization expense 85,816 67,573
Stock-based compensation 925,181 610,741
Issuance of restricted stock for services 71,200 0
Changes in operating assets and liabilities:    
Accounts receivable (64,792) 0
Other receivables (39,749) 0
Unbilled accounts receivable (576,389) (918,164)
Inventory (615,967) (1,660,710)
Prepaid expense and other assets (427,630) 65,011
Accounts payable and accrued expenses (877,285) 1,386,601
Contract loss provision 500,000 0
Accrued legal settlement 135,000 0
Unearned revenue (70,109) 200,109
Other liabilities 23,259 (9,862)
Net cash used in operating activities (9,034,987) (4,948,668)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property, plant, and equipment (105,990) (144,567)
Purchases of marketable securities 0 (1,963,432)
Proceeds from marketable securities 1,963,432 0
Increase in intangible assets (5,725) (52,292)
Net cash provided by (used in) investing activities 1,851,717 (2,160,291)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from the exercise of options and warrants 137,500 25,049
Proceeds from the issuance of common stock 13,441,438 0
Net cash provided by financing activities 13,578,938 25,049
Effect of exchange rates on cash 2,799 (328)
NET INCREASE (DECREASE) IN CASH 6,398,467 (7,084,238)
CASH - Beginning of year 4,046,937 11,131,175
CASH - End of year 10,445,404 4,046,937
SUPPLEMENTAL CASH FLOW DISCLOSURES:    
Cash paid for interest 0 0
Cash paid for taxes 0 0
NON-CASH INVESTING ACTIVITIES:    
Change in unrealized loss on AFS investment securities 0 (18,968)
Transfers of investment securities from AFS to HTM 1,963,432 0
Amortization of AFS investment securities unrealized loss in AOCI into interest income as yield adjustment $ 18,968 $ 0