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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (31,607,927) $ (10,801,913)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on disposal of property and equipment (18,026) (65,417)
Loss on extinguishment of debt 2,039,815
Loss on write-down of related party note payable 158,817
Loss on change in fair value of warrant liability 27,900
Gain on change in fair value of derivative liabilities (385,138)
Deferred taxes 159,000 (1,471,000)
Bad debt expense (14,835)
Inventory reserve 1,069,432 38,000
Impairment of goodwill and intangible assets 14,648,048
Depreciation and amortization 2,240,680 2,037,112
Amortization of debt discounts 4,387,571 1,900,194
Amortization of right-of-use assets 862,761 593,121
Changes in operating assets and liabilities:    
Receivables (475,439) (1,836,572)
Contract assets 9,176 (1,108)
Inventories 755,373 1,205,283
Prepaid expenses and other current assets (548,187) 202,173
Other assets 3,262 3,494
Accounts payable and accrued expenses 2,113,714 2,992,107
Contract liabilities 954,803 (194,608)
Customer deposits (916,165) (405,601)
Operating lease liabilities (806,296) (525,374)
Net cash used in operating activities (7,540,293) (4,131,477)
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash paid for ICU Eyewear, net of cash acquired (3,651,862)
Purchases of property and equipment (240,835) (256,677)
Proceeds from disposal of property and equipment 97,140
Investments in certificates of deposit (1,211) (881)
Net cash used in investing activities (3,893,908) (160,418)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net proceeds from issuance of common shares and warrants in connection with private debt offerings 5,767,518
Net proceeds from issuance of common shares and warrants in public offerings 2,352,680 5,148,700
Net proceeds from issuance of series B senior convertible preferred shares 1,429,700
Net proceeds from notes payable 2,275,500 499,600
Net proceeds from revolving line of credit 3,358,384
Proceeds from exercise of warrants 5,064
Repayments of notes payable and finance lease liabilities (1,816,270) (977,907)
Repayments of convertible notes payable (715,945)
Accrued common share dividends paid (1,093,354)
Net cash provided by financing activities 11,121,260 3,987,717
NET CHANGE IN CASH AND CASH EQUIVALENTS (312,941) (304,178)
CASH AND CASH EQUIVALENTS    
Beginning of the period 1,079,355 1,383,533
End of the period 766,414 1,079,355
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest 4,495,597 2,115,140
Cash paid for income taxes 144,953 188,224
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Net assets acquired in the acquisition of ICU Eyewear 757,283
Deemed dividend from issuance of warrants to common shareholders 618,000
Deemed dividend from down round provision in warrants 1,780,000 9,012,730
Issuance of common shares upon cashless exercise of warrants 23 1
Debt discounts on notes payable 5,215,971 503,050
Fair value of derivative liabilities recognized upon issuance of notes payable 2,613,177
Fair value of warrant liability recognized upon issuance of prefunded warrants 1,156,300
Issuance of common shares upon exercise of prefunded warrants 55
Extinguishment of warrant liability upon exercise of prefunded warrants 1,184,200
Reclassification of notes payable to convertible notes payable upon default 312,117
Issuance of common shares upon conversion of convertible notes payable and accrued interest 4,300,462
Settlement of revolving line of credit and accrued interest through the issuance of a new revolving line of credit 2,003,985
Financed purchases of property and equipment 256,843 568,764
Operating lease right-of-use asset and liability measurement 1,827,063 254,713
Series A Preferred Stock    
CASH FLOWS FROM FINANCING ACTIVITIES    
Redemption convertible preferred shares (209,091)
Accrued preferred share dividends paid (590,162)
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Accrued dividends on series preferred shares 347,157
Issuance of common shares upon settlement of accrued dividends 434,629
Issuance of common shares upon conversion of preferred shares 1,148,369 111,986
Series B Preferred Stock    
CASH FLOWS FROM FINANCING ACTIVITIES    
Redemption convertible preferred shares   (57,501)
Accrued preferred share dividends paid (105,671) (162,268)
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Accrued dividends on series preferred shares 165,810
Issuance of common shares upon settlement of accrued dividends 75,722
Issuance of common shares upon conversion of preferred shares $ 973,682