XML 16 R7.htm IDEA: XBRL DOCUMENT v3.24.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (2,678,062) $ (5,024,264)
Depreciation expense 5,355 10,155
Amortization of intangibles 23,380 39,643
Stock based compensation 1,005,273 1,113,427
Inventory reserve 0 109,159
Employees paid in stock 264,953 317,500
Expense paid in stock 372,901 579,928
Unrealized gain on marketable securities 0 6,208
Bad debt expense 0 16,076
Amortization of right-of-use asset 72,149 69,067
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (238,305) 86,629
Increase in accounts receivable, related parties (3,013) 0
Increase in inventories (1,073,450) (799,454)
Decrease (increase) in advances on contracts 360,242 (373,852)
Increase in prepaid expenses and other current assets (128,345) (134,881)
Increase in accounts payable 448,461 46,538
Increase(decrease) in accounts payable, related party 329,504 (166,855)
Decrease in accrued expenses (243,999) (13,098)
Increase in accrued expenses, related party 144,758 103,287
Decrease operating right of use lease asset (70,189) (65,543)
Net cash used in operating activities (1,408,387) (4,080,330)
Cash flows from investing activities:    
Purchase of furniture, fixtures, and equipment (6,596) (1,192)
Sale of marketable securities 2,976,573 4,472,540
Purchase of marketable securities 0 (6,929,218)
Net cash provided by (used in) investing activities 2,969,977 (2,457,870)
Cash flows from financing activities:    
Net Proceeds exercise of warrants 51,751 0
Payments finance lease obligations (7,613) (6,486)
Net cash provided by (used in) financing activities 236,294 (6,486)
Net increase (decrease) in cash and cash equivalents 1,797,884 (6,544,686)
Cash and cash equivalents at beginning of period 2,977,713 8,715,279
Cash and cash equivalents at end of period 4,775,597 2,170,593
Public Offering [Member]    
Cash flows from financing activities:    
Net proceeds from Public Placement Offering $ 192,156 $ 0