Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.23.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (19,410,482) $ (11,618,260)
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 122,671 82,001
Common stock and warrants issued for interest 3,715,204 2,196,278
Depreciation and amortization 84,341 67,985
Accretion of interest and amortization of debt discount 3,213,622 1,777,863
Loss on extinguishment of accrued liabilities and debt 1,809,249
Common stock and warrants issued for debt extension 1,671,573
Preferred stock issued for debt extension 2,683,600
Stock-based compensation expense 1,706,420 128,984
(Gain)/Loss on investment in equity securities (14,280) 8,047
Common stock and warrants issued for services 1,978,645 367,370
Preferred stock issued for services 617,200
Changes in operating assets and liabilities:    
Accounts receivable (33,889) (11,568)
Inventories 219,228 (238,973)
Prepaid expenses and other assets 38,244 204,141
Accounts payable 425,327 80,130
Accrued employee compensation 209,513 104,258
Operating lease liability (144,549) (82,001)
Deferred revenue and other accrued expenses 1,551,380 2,083,239
Net cash used in operating activities (2,053,823) (3,051,257)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property plant and equipment (7,495) (20,754)
Net cash used in investing activities (7,495) (20,754)
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 4,336,665 3,428,249
Net proceeds from non-convertible debt - third party 2,043,681 1,815,000
Net proceeds from debt - related party 159,186 762,500
Payments on convertible debt (2,462,269) (1,086,946)
Payments on debt - related party (159,000) (259,600)
Payments on non-convertible debt (2,086,658) (1,506,066)
Net cash provided by financing activities 2,062,716 3,170,580
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,398 98,569
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 3,865 132,311
CASH AND CASH EQUIVALENTS AT END OF PERIOD 5,263 230,880
CASH FLOWS SUPPLEMENTAL INFORMATION    
Interest paid in cash 1,219,038 938,451
NON CASH TRANSACTIONS:    
Early adoption of ASU 2020-06 473,027
Common stock issued with debt 1,293,270 512,593
Discount from warrants issued with debt 93,576
Common stock issued in lieu of cash for dividend 162,528 306,333
Preferred stock issued with debt 539,487
Preferred stock dividends 1,629,133 1,295,566
Conversion of preferred stock for common stock 14,869 44
Conversion of debt, interest, preferred stock 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