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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended9 Months Ended12 Months Ended
Sep. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Operating activities       
Net loss$ (2,226,738)$ (2,348,771)$ (4,076,409)$ (3,266,510)$ (7,044,320)$ (11,215,589) 
Adjustments to reconcile net loss to net cash used in operations       
Depreciation and amortization278,442 226,724 829,1371,171,638 
Amortization of bond premium and realized loss on investments in debt securities    34,55636,760 
Amortization of operating lease - right-of-use asset    167,181105,470 
Amortization of debt discount    755,457  
Bad debt expense1,086 2,040 83,56416,938 
Warrants issued for services rendered      
Stock issued for services    200,5921,145,472 
Stock issued for services - related parties    488,697  
(Increase) decrease in       
Accounts Receivable    (643,005)(575,119) 
Inventory    (32,023)(91,205) 
Prepaids and other    (28,578)(78,947) 
Deposits    (280)  
Increase (decrease) in       
Accounts payable and accrued expenses    (114,855)472,581 
Accounts payable and accrued expenses - related party    31,815  
Operating lease liability    (167,605)28,115 
Net cash used in operating activities    (5,439,667)(8,983,886) 
Investing activities       
Proceeds from sale of marketable debt securities    2,130,116831,716 
Acquisition of business     (321,250) 
Purchase of fixed assets - net of refunds on prior purchases    19,498(3,242,162) 
Net cash used provided by (used in) investing activities    2,149,614(2,731,696) 
Financing activities       
Proceeds from line of credit     1,000,000 
Proceeds from notes payable    250,0002,187,122 
Proceeds from notes payable - related party    3,321,100  
Proceeds from stock issued for cash    25,308  
Cash paid for direct offering costs    (25,308)  
Repayments on line of credit    (1,000,000)  
Repayments on notes payable    (680,110)  
Repayments on loan payable - related party    (262,500)(455,209) 
Net cash provided by financing activities    1,628,4902,731,913 
Net decrease in cash    (1,661,563)(8,983,669) 
Cash - beginning of period $ 2,066,793 $ 13,561,2662,066,79313,561,266$ 13,561,266
Cash - end of period$ 405,230 $ 4,577,597 405,2304,577,597$ 2,066,793
Supplemental disclosure of cash flow information       
Cash paid for interest    73,26264,666 
Cash paid for income tax      
Supplemental disclosure of non-cash investing and financing activities       
Debt discount    990,250  
Realized gains on sale of investments in debt securities - elimination of AOCL    44,590  
Adjust note balance for actual borrowings    $ 24,664  
Source
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PUBLISHED: NOVEMBER 14, 2023

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