Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.24.2.u1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (8,074,423) $ (6,857,834) $ (6,857,834)
Adjustments to reconcile net loss to net cash used in operating activities:      
Gain on loan forgiveness (659,277)  
Non-cash lease expense 48,561 90,279  
Common stock issued for interest 1,136,790 1,705,234  
Preferred stock issued for interest 892,343  
Preferred stock for services 67,500  
Preferred stock issued debt extensions 1,160,880  
Depreciation and amortization 75,827 28,114  
Accretion of interest and amortization of debt discount 1,571,926 615,007  
Common stock issued for debt extension 110,310 1,029,939  
Stock-based compensation expense 240,292 1,430,244  
(Gain) on investment in equity securities (4,155) (8,061)  
Common stock and warrants issued for services 11,100 1,480,944  
Investment banker fees for UB APA 210,060  
Changes in operating assets and liabilities:      
Accounts receivable 11,718 (96,780)  
Inventories 58,968 20,338  
Prepaid expenses and other assets 11,279 (25)  
UB Exchange Account (1,181)  
Accounts payable (225,930) 131,729  
Accrued employee compensation (14,125) 101,299  
Operating Lease Liability (14,464) (127,014)  
Deferred revenue and other accrued expenses 867,164 693,653  
Net cash used in operating activities (1,859,560) (422,211)  
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property plant and equipment (3,000)  
Net cash used in investing activities (3,000)  
CASH FLOWS FROM FINANCING ACTIVITIES:      
Sale of common stock 100,000  
Proceeds from stock option exercises 81,111  
Net proceeds from convertible debt 2,056,289 2,520,000  
Net proceeds from non-convertible debt - third party 94,371 654,681  
Net proceeds from debt - related party 97,052 88,200  
Payments on convertible debt (394,229) (1,628,474)  
Payments on debt - related party (8,682) (99,000)  
Payments on non-convertible debt (63,300) (1,056,149)  
Net cash provided by financing activities 1,781,501 660,369  
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (78,059) 235,158  
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 81,279 3,865 3,865
CASH AND CASH EQUIVALENTS AT END OF PERIOD 3,220 239,023 $ 81,279
SUPPLEMENTAL INFORMATION      
Interest paid in cash 324,763 534,872  
NON CASH TRANSACTIONS:      
Common stock issued with debt 140,455 1,087,751  
Preferred stock issued with debt 260,000  
Common stock issued in lieu of cash for dividend 38,838 102,435  
Preferred stock dividends 632,053 431,807  
Conversion of preferred stock for common stock 69,550 4,935  
Conversion of common stock for preferred stock 8,750  
Conversion of debt and interest into common stock 509,033  
Preferred stock and options issued for UB acquisition 5,959,834  
Initial recognition of ROU assets and liabilities $ 471,155