XML 15 R6.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows From Operating Activities    
Net loss $ (778,427) $ (3,315,769)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 320,667 313,984
Bad debt (recovery) expense (48,908) 200,000
Gain on extinguishment of debt (579,977) 0
Equity based compensation expense 299,847 542,949
Gain on assets sale 100,000 0
Amortization of debt discount and debt costs 177,072 363,871
Change in fair value of warrant liability 64,096 0
Factoring discount fee and interest 0 18,750
Unrealized losses on marketable securities 108,512 0
Changes in assets and liabilities:    
Decrease in accounts receivable 392,193 126,195
Decrease (increase) in prepaid expenses and other current assets 29,950 (92,604)
Increase in accounts payable and accrued liabilities (399,272) 225,143
Customer advances 0 33,344
(Decrease) increase in deferred revenue (27,359) 56,071
Net cash used in operating activities (669,798) (1,528,066)
Cash Flows From Investing Activities:    
Proceeds from sale of assets 100,000 0
Net cash provided by investing activities 100,000 0
Cash Flows From Financing Activities:    
Payments of loans (129,000) (91,571)
Payments of promissory notes (592,057) 0
Proceeds from factoring agreement 0 771,017
Repayments of factoring agreement 0 (175,127)
Gross proceeds from exercise of warrants 592,057 315,178
Net cash (used in) provided by financing activities (129,000) 819,497
Net decrease in cash (698,789) (708,569)
Cash, beginning of period 1,008,408 946,804
Cash, end of period 309,610 238,235
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 53,941 98,867
Cash paid during the period for income taxes 0 0
Supplemental schedule of non-cash investing and financing activities:    
Accounts receivable owed under factoring agreement collected directly by factor 0 875,709
Issuance of common stock issued upon purchase of intangible assets 647,055 0
Warrants issued in connection with purchase of intangible assets 480,358  
Issuance of common stock issued upon conversion of note payable 273,673 0
Issuance of common stock from conversion of Preferred stock, Series E 9 0
Issuance of common stock fromupon conversion of promissory notes 523,380  
Deemed dividends 0 503,643
Offering costs as a result of modification of warrants to induce exercise $ 0 $ 10,400