v3.25.2
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Loss $ (12,478,487) $ (4,471,612)
Adjustments to reconcile net loss to net cash (used in) operating activities:    
Stock based compensation 2,986 69,125
Common stock issued for service 302,000 319,083
Write-off of fixed assets 276,867
Depreciation of fixed assets 5,866 4,521
Amortization of debt discounts 1,232,529 868,954
Allowance for inventory obsolescence 1,241,305 176,000
Allowance for related party advances and long-term receivable 1,807,829
Loss on settlement of debt 102,911 977,188
Lease expense 40,869 72,526
Credit loss expense 7,962 8,340
(Gain) loss on revaluation of fair value of derivative and warrant liabilities 354,296 (2,497,088)
Changes in operating assets and liabilities:    
Accounts receivables 176,592 270,881
Inventories 919,456 2,023,631
Advances to related parties 95,525 123,000
Other current assets (348,322) 140,290
Right of use liability (40,869) (71,946)
Other assets (35,932) 4,467
Accounts payable and accruals 321,619 (1,737,997)
Customer refunds (133,076) 189,975
Deferred income (47,819)
Net Cash (Used in) Operating Activities (6,195,893) (3,530,662)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of fixed assets (101,736) (159,609)
Net Cash (Used in) Investing Activities (101,736) (159,609)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from common stock offering 6,161,626 1,799,506
Proceeds from sale of prefunded warrants 4,678,924
Proceeds from working capital line of credit 2,405,034
Proceeds from short-term loans 2,477,790 700,000
Proceeds from convertible debt 1,140,000
Repayments of working capital line of credit (4,182,971)
Repayments of short-term loans (1,955,924) (623,000)
Principal payments of convertible debt (2,007,435)
Repayments of related party notes payable (265,620) (157,380)
Purchase of treasury stock (76,323)
Net Cash Provided by Financing Activities 6,417,872 3,676,355
Effect of Exchange Rate Changes on Cash 182,448 28,817
NET INCREASE IN CASH AND CASH EQUIVALENTS 302,691 14,901
CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD 24,163 9,262
CASH AND CASH EQUIVALENTS – END OF PERIOD 326,854 24,163
Supplemental Disclosure of Cash Flow Information    
Cash paid for interest 624,496 955,483
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES    
Common stock issued to settle related party notes payable and accrued interest 250,000
Common stock issued for partial conversion of note payable 2,904,886 3,053,088
Common stock issued for loan commitment fees 118,888
Derivative liability recognized on issuance of convertible note 47,411 383,672
Warrant liability recognized on issuance of convertible note 453,746
Common stock issued to settle subordinated related party note $ 570,000