v3.25.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net loss $ (8,545,885) $ (11,118,572)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on impairment of goodwill 10,918,000 5,192,000
Impairment of ENTADFI assets 2,293,576
Amortization of debt discounts 4,966 182,928
Amortization of debt discount - related party 174,774
Depreciation and amortization 4,748 206,700
Change in fair value of subscription agreement liability – related party (3,319,000) (226,400)
Net periodic pension benefit (89,827) (58,404)
Stock-based compensation 29,256 52,650
Gain on forgiveness of accounts payable (944,694)
Interest accrued on note payable – related party 50,000
Change in fair value of contingent warrant liability 9,795
Deferred tax benefit (121,567)
Disposal of property and equipment 2,472
Changes in operating assets and liabilities:    
Accounts receivable 9,453 (116,763)
Inventories (91,019) (36,974)
Prepaid expenses and other current assets 3,638 (419,530)
Prepaid expenses, long-term (7,750)
Accounts payable (261,362) (1,017,428)
Accrued expenses 269,779 (261,303)
Net cash used in operating activities (1,999,680) (5,232,063)
Cash flows from investing activities    
Purchases of property and equipment (4,578)
Net cash Provided by (used in) investing activities (4,578)
Cash flows from financing activities    
Proceeds from issuance of note payable – related party 5,000,000
Proceeds from issuance of note payable 100,000 678,550
Payment of financing costs (400,000)
Principal payments of notes payable (937,550) (73,457)
Payment for redemption of Series C Preferred Stock (1,318,813)
Proceeds from issuance of common stock in connection with the ELOC 5,026,617
Net cash provided by financing activities 2,870,254 5,205,093
Effect of exchange rate changes on cash 60,119 (58,917)
Net increase (decrease) in cash 930,693 (90,465)
Cash, beginning of period 646,500 4,554,335
Cash, end of period 1,577,193 4,463,870
Supplemental disclosure of cash flow information:    
Cash paid for interest 21,162 4,405
Noncash investing and financing activities:    
D&O insurance premium financed 460,875
Deemed dividend owed to Series C preferred stock shareholders $ 394,757