v3.23.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash Flows From Operating Activities    
Net loss $ (7,021,995) $ (9,824,975)
Loss from discontinued operations (59,773) (32,213)
Net loss from continuing operations (6,962,222) (9,792,762)
Adjustments to reconcile net loss from continuing operations to net cash from operating activities:    
Depreciation and amortization 1,005,220 1,340,425
Impairment expense 407,000
Amortization of debt discount 52,581 380,282
Stock-based compensation 4,758,257 4,543,619
Common shares issued to vendor for services 117,500
Modification of warrants for extension of promissory note to investor 68,756
Other income - PPP Loan forgiveness (25,424)
Loss on disposal of property and equipment 6,938
Change in fair value of marketable securities (11,770)
Changes in operating assets and liabilities:    
Accounts receivable (470,719) 75,470
Inventories 64,091 (212,518)
Prepaid expenses and other assets (19,480) (4,723)
Accounts payable and accrued liabilities 466,783 85,939
Net cash from operating activities – continuing operations (629,733) (3,497,024)
Net cash from operating activities – discontinued operations (2,820)
Net cash from operating activities (632,553) (3,497,024)
Cash Flows From Investing Activities    
Capital expenditures (77,715)
Acquisition of certain assets of Halcyon Thruput, LLC, net of acquired cash of $224,530 (1,525,470)
Proceeds from sale of investment in common stock 34,847
Net cash from investing activities – continuing operations (1,568,338)
Cash Flows From Financing Activities    
Issuance of common stock units 925,000
Redemptions of Series B preferred stock (137,500)
Series B preferred stock dividends paid (16,500)
Proceeds from warrant exercises 3,342,000
Repayment of Halcyon bank note (995,614)
Proceeds from notes payable - related parties 1,294,069
Repayments of notes payable - related parties (105,000)
Proceeds from subordinated notes 410,000
Repayment of subordinated notes (50,000) (1,100,000)
Payment of mortgage payable (251,666) (117,793)
Net cash from financing activities – continuing operations 887,403 2,309,593
Net change in cash 254,850 (2,755,769)
Cash, beginning of period 20,656 2,776,425
Cash, end of period $ 275,506 $ 20,656