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 ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities:    
Net loss $ (4,583,295) $ (5,475,650)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of intangible assets 192,732 192,732
Amortization of debt discounts 237,250 286,346
(Gain) loss on extinguishment of debt 0 26,125
Non-cash lease expense 44,284 13,747
Non-cash interest expense 336,510 29,638
Non-cash conversion expense 585,875 0
Bad debt expense 202 1,132
Stock-based compensation expense 400,307 1,326,675
Changes in assets and liabilities:    
Accounts receivable (9,708) (1,938)
Inventory 60,844 (47,867)
Prepaid expenses 81,051 398,521
Other assets (6,002) (15,931)
Accounts payable (5,912) 341,425
Accrued expenses (208,213) 1,185
Accrued interest payable (128,214) (324,083)
Operating lease liabilities (46,872) (14,699)
Net cash used in operating activities (3,049,161) (3,262,642)
Financing Activities:    
Proceeds from notes payable - non-related parties 0 3,000,001
Repayments of notes payable - non-related parties 0 (1,102,627)
Repayments of notes payable - related parties 0 (1,000,000)
Debt issuance costs 0 (537,750)
Proceeds from exercise of stock warrants 2,786,174 0
Payment of transactional costs for exercise of warrants (360,756) 0
Net cash provided by financing activities 2,425,418 359,624
Net Change In Cash (623,743) (2,903,018)
Cash At The Beginning Of The Period 2,790,147 8,578,997
Cash At The End Of The Period 2,166,404 5,675,979
Schedule Of Non-Cash Investing And Financing Activities:    
Issuance of common stock and warrants for prepaid services 0 373,981
Non-related party debt converted to capital 2,879,279 341,998
Operating lease right-of-use assets and liabilities 0 330,707
Financing of prepaid insurance premiums 37,649 293,882
Deemed dividends related to Convertible Debt Warrants down round provision 23,270 0
Deemed dividends related to PIPE Warrants down round provision 46,875 0
Deemed dividends related to Original Warrants and New Warrants down round provision 1,455,805 0
Warrant inducement (transactional costs incurred but not paid) 341,297 0
Conversion of preferred stock to common stock 0 30
Supplemental Disclosure:    
Cash paid for interest 266 439,280
Cash paid for income taxes $ 0 $ 0