Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)

v3.25.2
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities:    
Net loss $ (3,874,540) $ (4,583,295)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of intangible assets 192,732 192,732
Amortization of debt discounts 0 237,250
Non-cash lease expense 49,298 44,284
Non-cash interest expense 0 336,510
Non-cash conversion expense 0 585,875
Bad debt expense 0 202
Stock-based compensation expense 254,930 400,307
Changes in assets and liabilities:    
Accounts receivable (22,524) (9,708)
Inventory 35,112 60,844
Prepaid expenses 115,082 81,051
Other assets 41,918 (6,002)
Accounts payable 63,738 (5,912)
Accrued expenses (133,086) (208,213)
Accrued interest payable 4,251 (128,214)
Deferred revenue 13,680 0
Operating lease liabilities (53,794) (46,872)
Net cash used in operating activities (3,313,203) (3,049,161)
Financing Activities:    
Repayments of notes payable - non-related parties (100,907) 0
Proceeds from exercise of stock warrants 3,680,411 2,786,174
Payment of transactional costs for exercise of warrants (184,021) (360,756)
Net cash provided by financing activities 3,395,483 2,425,418
Net Change In Cash 82,280 (623,743)
Cash At The Beginning Of The Period 8,384,042 2,790,147
Cash At The End Of The Period 8,466,322 2,166,404
Schedule Of Non-Cash Investing And Financing Activities:    
True-up payment accrual related to 2024 PIPE Warrants (1,640,000) 0
Deemed dividends related to Convertible Debt Warrants down round provision (1,833) 23,270
Deemed dividends related to 2022 PIPE Warrants down round provision (1,547) 46,875
Deemed dividends related to Original Warrants and New Warrants down round provision 0 1,455,805
Deemed dividends related to 2024 PIPE warrants round down provision (47,373) 0
Non-related party debt converted to capital 0 2,879,279
Warrant inducement transactional costs 0 341,297
Financing of prepaid insurance premiums 0 37,649
Supplemental Disclosure:    
Cash paid for interest 1,541 266
Cash paid for income taxes $ 0 $ 0