v3.24.1.1.u2
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (29,314,298) $ (16,076,678)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on loan forgiveness (1,129,679) (10,000)
Non-cash lease expense 139,280 113,470
Common stock and warrants issued for interest 8,226,186 2,943,139
Preferred stock issued for interest 602,616
Preferred stock issued for services 1,360,867
Depreciation and amortization 112,454 119,788
Accretion of interest and amortization of debt discount 2,507,055 1,777,863
Common stock and warrants issued for debt extension 2,028,748 2,331,398
Preferred stock issued for debt extension 3,071,914
Allowance for inventory reserve 121,891 641,815
Stock-based compensation expense 2,636,443 215,098
(Gain) loss on investment in equity securities 1,762 (3,662)
Common stock and warrants issued for services 2,082,544 446,670
Impairment on intangible assets 230,770
Changes in operating assets and liabilities:    
Accounts receivable 144,140 (140,628)
Inventories 259,583 (180,644)
Prepaid expenses and other assets 34,894 165,090
Accounts payable 683,194 109,314
Accrued employee compensation 24,331 49,567
Operating lease liability (154,239) (113,470)
Deferred revenue and other accrued expenses 3,143,534 3,133,829
Net cash used in operating activities (3,186,010) (4,478,041)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property plant and equipment (7,495) (20,755)
Net cash used in investing activities (7,495) (20,755)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Sale of common stock 150,000 25,000
Proceeds from stock option exercises 81,111 17,443
Net proceeds from convertible debt 5,456,960 4,907,222
Net proceeds from non-convertible debt - third party 2,614,761 2,710,000
Net proceeds from related party 181,700 866,350
Payments on convertible debt (2,742,409) (1,522,494)
Payments on debt - related party (185,000) (315,300)
Payments on non-convertible debt (2,286,204) (2,317,871)
Net cash provided by financing activities 3,270,919 4,370,350
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 77,414 (128,446)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 3,865 132,311
CASH AND CASH EQUIVALENTS AT END OF PERIOD 81,279 3,865
SUPPLEMENTAL INFORMATION    
Interest paid in cash 1,475,864 1,378,647
NON CASH TRANSACTIONS:    
ASU 2020-06 adoption 473,027
Common stock issued with debt 790,975 873,854
Conversion of preferred stock for common stock 29,920 44
Conversion of common stock for preferred stock 6,240
Preferred stock issued with debt 563,441
Preferred Shares Liability 1,000,000
Discount from warrants issued with debt 93,576
Common stock issued in lieu of cash for dividend 386,936 386,300
Conversion of nonconvertible debt to convertible 691,500
Preferred stock dividends 2,261,186 1,727,275
Conversion of debt, interest, preferred stock dividend for preferred stock 10,017,212
Conversion of debt and interest into common stock 509,033 467,092
Extension of warrants for Series AA preferred stock $ 3,626,950

Source

PDF HTML
10-K Filing
ZIP XLS HTML
XBRL