XML 20 R6.htm IDEA: XBRL DOCUMENT v3.26.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities    
Net loss $ (46,895,936) $ (37,639,008)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 1,106,808 1,377,266
Impairment charges 18,882,000
Stock-based compensation expense 2,248,053 5,434,904
Common stock issued for financial advisory services 135,000
Change in fair value of acquisition contingencies (805,863) (714,876)
Non-cash lease expense (8,197) 13,510
Realized gain on investments (683,365) (870,745)
Loss from equity method investment 46,301 186,067
(Gain) loss on disposition of assets 82,421 (8,291)
Recoveries of credit losses (26,006) (15,035)
Inventory obsolescence expense (recovery) (50,944) 326,512
Changes in assets and liabilities:    
Accounts receivable (31,799) 186,391
Prepaid expenses and other assets 585,926 412,056
Inventory 131,271 265,489
Deferred revenue (26,057) (321,592)
Income taxes payable (713,643) 54,457
Accounts payable, accrued expenses and other liabilities (3,112,897) 2,157,850
Net cash used in operating activities (29,136,927) (29,155,045)
Cash flows from investing activities    
Purchases of property and equipment (700,047) (748,352)
Proceeds from maturities of marketable investment securities 33,666,959 58,765,487
Purchases of marketable securities (6,590,939) (40,802,588)
Investment in joint ventures (102,566) (143,750)
Net cash provided by investing activities 26,273,407 17,070,797
Cash flows from financing activities    
Proceeds from exercise of options 12,500
Issuance of common stock related to at-the-market offering, net of offering costs 1,810,813 103,914
Issuance of common stock related to registered direct offering, net of offering costs 9,988,270
Net cash provided by financing activities 11,811,583 103,914
Net increase (decrease) in cash and cash equivalents 8,948,063 (11,980,334)
Cash and cash equivalents at beginning of period 2,936,544 14,916,878
Cash and cash equivalents at end of period 11,884,607 2,936,544
Supplemental disclosure of cash flow information    
Cash received for income taxes (858,870)
Supplemental disclosure of non-cash investing and financing transactions    
Receivable from issuance of common stock, collected in 2025 $ 126,750