Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (13,780,537) $ (7,156,023)
Adjustments to reconcile net loss to net cash used in operating activities:    
(Gain) on extinguishment of debt (687,591) (10,000)
Non-cash lease expense 106,345 53,884
Common stock and warrants issued for interest 3,001,680 1,561,973
Depreciation and amortization 56,228 62,207
Accretion of interest and amortization of debt discount 1,825,243 1,457,204
Loss on extinguishment of accrued liabilities and debt 755,127
Common stock and warrants issued for debt extension 1,521,573
Preferred stock issued for debt extension 1,397,000
Stock-based compensation expense 1,565,798 96,557
(Gain) on investment in equity securities (20,245) (628)
Common stock and warrants issued for services 1,653,344 185,261
Preferred stock issued for services 505,700
Changes in operating assets and liabilities:    
Accounts receivable 106,359 (162,050)
Inventories 132,695 (208,122)
Prepaid expenses and other assets (23,487) 194,363
Accounts payable 274,992 24,767
Accrued employee compensation 120,940 119,422
Operating lease liability (135,549) (53,884)
Deferred revenue and other accrued expenses 1,058,126 1,081,750
Net cash used in operating activities (1,321,386) (1,998,192)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property plant and equipment (3,000) (4,890)
Net cash used in investing activities (3,000) (4,890)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Sale of common stock for cash 150,000
Proceeds from stock option exercises 81,111 17,443
Net proceeds from convertible debt 3,499,000 2,209,750
Net proceeds from non-convertible debt - third party 1,909,681 1,288,100
Net proceeds from debt - related party 123,400 464,500
Payments on convertible debt (2,353,536) (865,367)
Payments on debt - related party (148,500) (209,000)
Payments on non-convertible debt (1,915,660) (913,086)
Net cash provided by financing activities 1,345,496 1,992,340
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 21,110 (10,742)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 3,865 132,311
CASH AND CASH EQUIVALENTS AT END OF PERIOD 24,975 121,569
CASH FLOWS SUPPLEMENTAL INFORMATION    
Interest paid in cash 1,064,266 515,210
NON CASH TRANSACTIONS:    
Early adoption of ASU 2020-06 473,027
Common stock issued with debt 1,244,425 178,328
Preferred stock issued with debt 539,487
Discount from warrants issued with debt 87,436
Common stock issued in lieu of cash for dividend 162,528 215,277
Preferred stock dividends 997,079 863,857
Conversion of preferred stock for common stock 5,379 44
Conversion of debt, accrued interest and accrued dividend for preferred stock 10,017,212
Conversion of debt and interest into common stock 509,033 350,500
Conversion of common stock for preferred stock 6,240
Extension of warrants for Series AA preferred stock $ 3,626,950