v3.22.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (7,139,180) $ (3,356,090)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 872,746 826,513
Depreciation and amortization 796,476 351,876
Amortization of bond premium and realized loss on investments 26,072
Amortization of debt discount 93,500
Bad debt expense 14,898 32,936
Changes in operating assets and liabilities:    
Accounts receivable (734,954) 17,093
Inventory (119,813) 11,499
Prepaid expenses and other (478,812) (214,867)
Operating lease assets and liabilities 31,991
Accounts payable and accrued expenses 702,289 136,572
Accounts payable and accrued expenses - related party (48,505)
Net cash used in operating activities (6,028,287) (2,149,473)
Cash flows from investing activities:    
Maturity of debt securities 501,716
Acquisition of business (321,249)
Acquisition of fixed assets (3,020,706) (67,315)
Net cash used in investing activities (2,840,239) (67,315)
Cash flows from financing activities:    
Borrowings under line of credit 850,000
Proceeds from issuance of debt and loans 2,118,840 1,100,000
Proceeds from issuance of related party debt 800,000
Proceeds from issuance of common stock 115,000
Repayment of debt (266,688) (25,831)
Repayment of related party debt (24,174)
Net cash provided by financing activities 2,702,152 1,964,995
Net change in cash and cash equivalents (6,166,374) (251,793)
Cash and cash equivalents at beginning of period 13,561,266 882,870
Cash and cash equivalents cash at end of period 7,394,892 631,077
Noncash investing and financing activity:    
Debt discount 30,000
Issuance of acquisition, bonus and settlement shares 975,000
Shares issued for technology 2,250,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 34,945 67,646
Cash paid for taxes

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