v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (3,266,510) $ (1,348,155)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 470,685 417,462
Depreciation and amortization 337,664 118,745
Amortization of bond premium 12,702 75,000
Bad debt expense 4,010
Changes in operating assets and liabilities:    
Accounts receivable (133,401) (32,912)
Inventory (23,634) 7,363
Prepaid expenses and other (24,249) (98,004)
Operating lease assets and liabilities 35,868
Accounts payable and accrued expenses 256,887 48,391
Accounts payable and accrued expenses - related party (93,469)
Net cash used in operating activities (2,329,978) (905,579)
Cash flows from investing activities:    
Acquisition of business (321,250)
Acquisition of fixed assets (1,271,548) (23,841)
Net cash used in investing activities (1,592,798) (23,841)
Cash flows from financing activities:    
Borrowings under line of credit 152,500
Proceeds from issuance of debt 893,928
Proceeds from issuance of related party debt   300,000
Repayment of debt (113,145) (8,393)
Repayment of related party debt   (14,231)
Net cash provided by financing activities 933,283 227,376
Net change in cash and cash equivalents (2,989,493) (652,044)
Cash and cash equivalents at beginning of period 13,561,266 882,870
Cash and cash equivalents cash at end of period 10,571,774 230,826
Noncash investing and financing activity:    
Debt discount 30,000
Issuance of acquisition, bonus and settlement shares 600,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 9,024 37,343
Cash paid for taxes

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