v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (5,545,781) $ (5,328,245)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,238,641 2,210,927
Gain on disposal of property and equipment (9,674)
Credit loss expense 294,034 155,930
Inventory obsolescence 371,957 259,577
Share-based compensation 2,740,343 2,214,931
Noncash lease expense 359,758 202,756
Share of losses from equity method investments 339,090
Back-end fee 377,490 52,500
Paid-in-kind interest 995,244 161,875
Accretion of finance liabilities 86,541 117,267
Amortization and write-off of debt issuance costs 132,821 100,883
Change in fair value of earnout liabilities (79,451)
Changes in operating assets and liabilities:    
Accounts receivable, net 125,086 (2,127,363)
Accounts receivable – related parties 31,485 (103,012)
Inventory, net (1,130,775) 893,297
Prepaid and other assets (76,285) 119,172
Accounts payable (42,464) (1,173,544)
Accounts payable – related parties 1,442 67,682
Accrued royalties and expenses 317,076 402,610
Accrued bonuses and commissions (579,389) (961,709)
Operating lease liabilities (361,513) (192,383)
Net cash provided by (used in) operating activities 665,127 (3,006,300)
Cash flows from investing activities:    
Purchases of property and equipment (3,484,008) (124,580)
Proceeds from disposal of property and equipment 60,000
Purchases of intangible assets (23,452)
Investment in equity securities (3,538,217)
CarePICS acquisition (2,122,146)
Net cash used in investing activities (9,107,823) (124,580)
Cash flows from financing activities:    
Loan proceeds, net of debt issuance costs of $228,183 in 2025 and $887,253 in 2024 12,021,817 14,112,747
Pay off line of credit (9,750,000)
Pay off debt assumed in CarePICS acquisition (1,650,000)
Net settlement of equity-based awards (692,672) (72,708)
Cash payment of finance and earnout liabilities (156,000) (156,000)
Net cash provided by financing activities 9,523,145 4,134,039
Net increase in cash 1,080,449 1,003,159
Cash, beginning of period 15,878,295 5,147,216
Cash, end of period 16,958,744 6,150,375
Cash paid during the period for:    
Interest 1,516,563 549,227
Supplemental noncash investing and financing activities:    
Non-monetary exchange to acquire intangible assets 2,084,278
Conversion of note receivable into equity method investment 1,101,478
Earnout liability generated by CarePICS acquisition $ 1,355,603