XML 68 R6.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (7,658,602) $ (5,022,351)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 79,040 63,582
Issuance of common stock for services 373,231 0
Stock-based compensation 878,993 667,950
Change in foreign currency translation 0 (2,083)
Gain on legal settlement (22,303) 0
Inventory reserve 50,000 0
Changes in operating assets and liabilities:    
Accounts receivable (223,985) (16,761)
Other accounts receivable 29,657 0
Unbilled accounts receivable (226,594) (779,412)
Inventory (936,934) (249,413)
Contract assets (99,245) 0
Prepaid expenses (73,768) (263,009)
Other assets (22,792) 0
Accounts payable and accrued expenses 197,158 (1,067,555)
Accrued contract loss provision 100,000 0
Unearned revenue 72,768 (17,049)
Other liabilities (14,358) (13,528)
Net cash used in operating activities (7,497,734) (6,699,629)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (75,000) (51,813)
Purchases of equipment-in-process (838,410) 0
Increase in intangible assets (85,797) (5,724)
Proceeds from the sale of investments 0 1,963,431
Net cash (used in) provided by investing activities (999,207) 1,905,894
CASH FLOWS FROM FINANCING ACTIVITIES    
Net proceeds from the sale of common stock and option exercises 11,912 13,548,889
Net cash provided by financing activities 11,912 13,548,889
Net increase (decrease) in cash (8,485,029) 8,755,154
Cash, beginning of period 10,445,404 4,046,937
Cash, end of period 1,960,375 12,802,091
Supplemental cash flow disclosures    
Cash paid for interest 0 0
Cash paid for taxes 0 0
Supplemental disclsoure investing and financing activities    
Reclassification of inventory to equipment-in-process 1,819,284 0
Cashless stock option exercise $ 18 $ 0