Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities:    
Net loss $ (7,673,030) $ (8,856,754)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of intangible assets 289,098 289,098
Amortization of debt discounts 417,647 2,043,288
(Gain) loss on extinguishment of debt 26,125 (245,105)
Change in fair value of derivative liability 0 (1,040,000)
Stock-based compensation expense 1,836,674 2,272,826
Non-cash interest expense 29,638 0
Non-cash lease expense 34,714 0
Bad debt expense 1,132 0
Changes in assets and liabilities:    
Accounts receivable 3,456 (8,484)
Inventory (51,721) (157,303)
Prepaid expenses 571,129 375,001
Other assets (18,411) 3,149
Accounts payable 106,054 (149,145)
Accrued expenses 13,171 1,027,548
Accrued interest payable (281,079) 172,343
Related party payables (1,887) (60,976)
Common stock payable 0 70,500
Operating lease liabilities (7,728) 0
Net cash used in operating activities (4,705,018) (4,264,014)
Financing Activities:    
Proceeds from notes payable - non-related parties 3,000,001 0
Repayments of notes payable - non-related parties (1,211,661) (145,932)
Repayments of notes payable - related parties (1,000,000) 0
Debt issuance costs (537,750) 0
Proceeds from public equity offering 0 10,004,264
Cost of public equity offering 0 (1,309,882)
Proceeds from private equity offering 0 5,997,854
Cost of private equity offering 0 (867,100)
Repayments of convertible debenture payable 0 (3,048,781)
Net cash provided by financing activities 250,590 10,630,423
Net Change in Cash (4,454,428) 6,366,409
Cash at the Beginning of the Period 8,578,997 882,268
Cash at the End of the Period 4,124,569 7,248,677
Schedule of Non-Cash Investing and Financing Activities:    
Issuance of common stock and warrants for prepaid services 373,981 0
Non-related party debt converted to capital 341,998 47,500
Operating lease right-of-use assets and liabilities 330,707 0
Financing of prepaid insurance premiums 293,882 (274,589)
Conversion of preferred stock to common stock 30 0
Conversion of common stock to preferred stock 0 30
Derecognition of convertible debenture 0 3,048,781
Reacquisition value of convertible debenture 0 (3,912,781)
Fair value of shares issued for services 0 (719,000)
Deemed dividends related to warrant down round provisions 0 8,501,440
Reclassification of common shares from reverse stock split 0 155
Supplemental Disclosure:    
Cash paid for interest 446,069 15,986
Cash paid for income taxes $ 0 $ 0