Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.24.1.1.u2
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Revenue:    
Total revenue $ 1,977,763 $ 1,729,343
Costs and expenses:    
Cost of products and services 1,178,201 2,014,004
Research and development 1,367,154 969,532
Selling and marketing 730,714 401,444
General and administrative 8,205,052 3,242,652
Total operating costs 11,481,121 6,627,632
Operating loss (9,503,358) (4,898,289)
Other (expense) income:    
Interest expense, net (15,581,440) (10,438,565)
Unrealized (loss) gain on investment in equity securities (1,762) 3,662
Loss on extinguishment of liabilities (3,970,983) (751,335)
Other expense (256,755) 7,849
Total other expense (19,810,940) (11,178,389)
Net loss (29,314,298) (16,076,678)
Deemed dividends on extension of warrants (3,626,950)
Preferred stock dividends (2,261,186) (1,727,275)
Net loss attributable to common shareholders $ (35,202,434) $ (17,803,953)
Basic net loss per share attributable to common shareholders $ (1.51) $ (1.61)
Diluted net loss per share attributable to common shareholders $ (1.51) $ (1.61)
Weighted average common shares outstanding used in the basic net loss per share calculation 23,336,620 11,058,356
Weighted average common shares outstanding used in the diluted net loss per share calculation 23,336,620 11,058,356
Products Services Other [Member]    
Revenue:    
Total revenue $ 1,977,763 $ 1,729,343