XML 21 R10.htm IDEA: XBRL DOCUMENT v3.24.0.1
Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net loss $ (5,270,281) $ (6,067,193)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation 153,714 115,670
Amortization of debt discount (sale of future revenues) 295
Amortization of debt discount - notes 1,196,843
(Gain) / Loss on sale of property and equipment 3,426 (13,312)
Increase / (Decrease) in allowance for doubtful accounts (18,804) 19,604
Stock-based settlement 251,680
Stock-based compensation 189,831 2,114,529
Changes in operating assets and liabilities:    
(Increase) / Decrease in accounts receivable (156,445) 475,091
(Increase) / Decrease in inventory 371,653 (2,984,177)
Decrease in prepaid/in-transit inventory 38,964 812,562
Increase in prepaid expenses and other current assets (45,759) (134,191)
(Increase) / Decrease in deposits 5,005 (10,976)
Increase / (Decrease) in accounts payable 206,986 (87,369)
Increase / (Decrease) in customer deposits 46,190 (274,857)
Increase / (Decrease) in accrued expenses and other current liabilities (6,371) 107,407
Increase in right-of-use assets and lease liabilities 22,494 30,454
Net cash used in operating activities (4,207,717) (4,699,620)
Cash flows from investing activities    
Purchases of property and equipment (20,170) (434,458)
Net proceeds from sale of property and equipment 36,748 51,679
Net cash provided by / (used in) investing activities 16,578 (382,779)
Cash flows from financing activities    
Payments on line-of-credit and short-term revolving loans (550,000)
Payments on liability for sale of future revenues (11,797)
Principal payments on long-term debt (148,986) (1,784,500)
Net proceeds from exercise of warrants 49,777
Net proceeds from issuance of common stock 14,772,487
Net cash provided by / (used in) financing activities (99,209) 12,426,190
Net change in cash and cash equivalents (4,290,348) 7,343,791
Cash and cash equivalents, beginning 7,201,244 773,238
Cash and cash equivalents, ending 2,910,896 8,117,029
Supplemental disclosure of cash flow information:    
Cash paid for interest 92,136 401,037
Cash paid / (refunded) for franchise taxes 1,341 300
Non-cash financing activities:    
Acquisition/modification of operating lease right-of-use asset and lease liability (13,993) 2,348,509
Cashless warrant exercises 41
Purchases of property and equipment in exchange for long-term debt 181,430
Purchased of property and equipment in exchange for short-term payable $ 170,863