General form of registration statement for all companies including face-amount certificate companies

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.23.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating Activities:    
Net loss $ (12,354,930) $ (7,870,378)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization 385,464 385,464
Amortization of interest - conversion features 921,488 835,081
Amortization of interest 423,782 1,231,661
Gain on debt extinguishment, net (245,105) 0
Change in fair value of derivative liability (1,040,000) 60,000
Stock issued for professional services 864,500 0
Stock warrants expense 950,316 0
Stock options expense 1,582,217 723,262
Stock-based compensation expense 1,426,178 473,748
Changes in assets and liabilities:    
Accounts receivable (30,322) 0
Inventory (176,032) (39,461)
Prepaid expenses 86,238 42,585
Other assets 3,148 (21,896)
Accounts payable (127,185) 168,842
Accrued expenses 1,037,486 150,865
Accrued interest payable 217,581 117,666
Related party payables (80,996) 54,259
Net cash used in operating activities (6,156,172) (3,688,302)
Financing Activities:    
Proceeds from public equity offering 10,004,245 0
Cost of public equity offering (1,309,882) 0
Proceeds from private equity offering 5,997,873 0
Cost of private equity offering (875,900) 0
Proceeds from exercise of stock warrants, net 3,328,143 88,470
Proceeds from notes payable - related parties 0 1,030,000
Repayments of notes payable - related parties 0 (30,000)
Proceeds from notes payable - non-related parties 0 1,005,000
Repayments of notes payable - non-related parties (242,797) 0
Proceeds from convertible debenture payable 0 2,500,000
Repayments of convertible debenture payable (3,048,781) 0
Debt issuance costs 0 (275,000)
Proceeds from exercise of stock options 0 19,258
Net cash provided by financing activities 13,852,901 4,337,728
Net Change In Cash 7,696,729 649,426
Cash At The Beginning Of The Period 882,268 232,842
Cash At The End Of The Period 8,578,997 882,268
Schedule Of Non-Cash Investing And Financing Activities:    
Deemed dividends related to underwritten public offering warrants down round provision 5,005,857 0
Deemed dividends related to Original Warrants and New Warrant down round provision 3,495,583 0
Financing of prepaid insurance expenses 274,589 0
Non-related party debt converted to common shares 47,500 0
Exchange of common shares from exercise of stock options 38,015 0
Reclassification of common shares from reverse stock 155 0
Reclassification of elective shareholder conversion of common shares to preferred shares 30 0
Issuance of common stock for rent 0 49,600
Issuance of common stock for prior year accrued dividends 0 107,880
Issuance of common stock to settle prior year stock subscriptions payable 0 145,805
Intrinsic value-beneficial conversion feature 0 909,214
Relative fair value of stock warrants granted 0 1,939,756
Convertible debenture payable discount 0 823,781
Fair value of embedded conversion feature 0 980,000
Supplemental Disclosure:    
Cash paid for interest 30,722 72,672
Cash paid for income taxes $ 0 $ 0