XML 15 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 $ (4,107,249) $ (4,319,787)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 58,667 29,749
Amortization of right-of-use assets 57,636 54,495
Accounts receivable reserves and allowances (120,790) (88,129)
Inventory reserves (1,808) 4,074
Stock-based compensation 252,226 1,267,166
Change in fair value of warrant liabilities (1,038,673) (683,242)
Loss on voluntary conversion of convertible debt 1,077,287
Accretion of discount on convertible debt 533,336
Loss on disposal of fixed assets 300
Changes in operating assets and liabilities:    
Accounts receivable 246,645 316,142
Inventory and equipment held for lease 71,379 (348,908)
Prepaid expenses and other assets 377,761 282,074
Accounts payable 43,137 111,184
Accrued expenses and other current liabilities 283,431 (450,526)
R&D grant liability (132,874)
Operating lease liability (57,731) (36,297)
Deferred revenue (11,603) (19,606)
Deferred tax liability (165,170)
Net cash used in operating activities (2,634,093) (3,881,611)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (198,009) (49,625)
Net cash (used in) investing activities (198,009) (49,625)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from warrant exercises 3,858
Net cash provided by financing activities 3,858
Net change in cash and restricted cash (2,832,100) (3,927,378)
Effect of exchange rate changes on cash and restricted cash 160,320
Cash and restricted cash - beginning of period 7,040,124 17,538,272
Cash and restricted cash - end of period 4,368,343 13,610,894
Cash paid during the year for:    
Interest
Taxes
NONCASH FINANCING AND INVESTING ACTIVITIES:    
Net transfers to equipment held for lease from inventory 35,971
Fair value of warrant liabilities on date of exercise 858
Voluntary conversion of convertible debt into common stock $ 1,112,582