XML 15 R6.htm IDEA: XBRL DOCUMENT v3.25.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net loss $ (19,702,029) $ (29,252,681)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on impairment of goodwill 11,512,000 15,453,000
Impairment of ENTADFI assets 3,530,716
Amortization of debt discounts 120,162 371,578
Amortization of debt discount - related party 400,000
Depreciation and amortization 11,834 612,046
Net periodic pension benefit 353,384 16,502
Stock-based compensation 70,033 98,228
Interest accrued on note payable 230,532
Interest accrued on note payable – related party 134,247
Loss on impairment of inventory of ENTADFI 356,637
Loss on extinguishment of notes payable 5,384,719
Loss on extinguishment of Series C preferred stock 196,244
Loss on issuance of Series D preferred stock 2,543,329
Change in fair value of contingent warrant liabilities 10,060 (35,730)
Change in fair value of warrant liabilities (1,934,000)
Change in fair value of derivative liabilities 216,000
Change in fair value of subscription agreement liability – related party (3,127,962) 950,000
Gain on forgiveness of accounts payable (944,694)
Deferred tax benefit (127,183)
Loss on disposal of property and equipment 17,033
Changes in operating assets and liabilities:    
Accounts receivable 25,244 49,079
Inventories (74,182) (113,102)
Prepaid expenses and other current assets 370,868 70,563
Prepaid expenses, long-term (7,749)
Deferred offering costs (150,000)
Accounts payable (1,047,968) (1,242,071)
Accrued expenses (437,882) (1,072,781)
Net cash used in operating activities (6,587,805) (9,578,169)
Cash flows from investing activities    
Purchases of property and equipment (24,597)
Net cash Provided by (used in) investing activities (24,597)
Cash flows from financing activities    
Proceeds from issuance of note payable – related party 5,000,000
Proceeds from issuance of note payable 875,000 853,550
Payment of financing costs (400,000)
Principal payments of notes payable (6,947,360) (942,307)
Proceeds from exercise of preferred investment options, net 922,749
Payment for redemption of Series C Preferred Stock (1,713,570)
Proceeds from exercise of stock options 163
Proceeds from exercise of warrants 6,155
Proceeds from issuance of Series D preferred stock and warrants 9,301,200
Proceeds from sale of common stock 6,391,634
Cash in lieu of shares (926)
Net cash provided by financing activities 7,905,978 5,440,310
Effect of exchange rate changes on cash (1,128,117) (50,384)
Net increase (decrease) in cash 190,056 (4,212,840)
Cash, beginning of period 646,500 4,554,335
Cash, end of period 836,556 341,495
Supplemental disclosure of cash flow information:    
Cash paid for interest 188,313 19,658
Noncash investing and financing activities:    
Incremental fair value of exchanged preferred investment options 1,874,777
Recognition of contingent warrant liabilities 157,720
Conversion of Series A Preferred Stock to common stock 1
Conversion of Series B Preferred Stock to common stock 64,236,085
Settlement of related party note payable and accrued interest through issuance of common stock 5,134,247
Operating right-of-use asset obtained in exchange of lease liability 87,864
D&O insurance premium financed 460,875
Deemed dividend owed to Series C preferred stock shareholders 409,510
Settlement of subscription agreement liability 995,038
Conversion of Series C preferred stock to common stock 801,241
Recognition of warrant liabilities 14,749,000
Recognition of derivative liabilities 772,000
Recognition of Series D preferred stock 5,630,946
Series C preferred stock exchanged for Series D preferred stock 246,227
Settlement of note payable through issuance of Series D preferred stock $ 3,430,244