v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from Operating activities    
Net loss $ (83,618,591) $ (15,846,286)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 678,959 249,714
Loss on disposal of property and equipment 0 1,666
Non cash interest income on note receivable (363,798) 0
Stock-based compensation 6,319,378 4,231,670
Convertible note payable for non-cash issuance costs 0 621,915
Shares issued for non-cash consultant expense 673,497 619,200
Change in fair value of share liability 129,269 54,000
Change in fair value of convertible notes payable 64,715,131 2,528,526
Change in right-of-use lease asset 267,952 217,997
Non-cash lease income (22,064) 0
Change in deferred taxes 285 (39,068)
Changes in operating assets and liabilities:    
Accounts receivable 89,048 (288,878)
Receivable from noncontrolling interest 28,353 0
Inventory (946,052) 0
Prepaid expenses and other current assets 1,318,444 (1,566,707)
Other noncurrent assets 103,204 0
Accounts payable 1,106,878 223,828
Accrued expenses (507,883) 1,425,242
Operating lease liabilities (275,614) (224,134)
Other current liabilities (767,707) (303,941)
Net cash used in operating activities (11,071,311) (8,095,256)
Cash flows from investing activities    
Purchases of property and equipment (4,107,564) (3,867,903)
Cash advance in exchanges for note receivable (30,000,000) 0
Net cash used in investing activities (34,107,564) (3,867,903)
Cash flows from financing activities    
Proceeds from issuance of common stock 50,000,000 5,537,975
Payment of common stock issuance costs (3,238,630) (45,000)
Proceeds from exercise of warrants 4,915,312 0
Proceeds from noncontrolling interest in VIE 0 807,975
Proceeds from collection of receivable from noncontrolling interest in VIE 0 705,403
Distribution to noncontrolling interest in VIE (79,310) (27,116)
Proceeds from issuance of convertible notes payable 0 25,936,228
Proceeds from bank loans 47,045 0
Payment of notes payable (409,696) (438,569)
Payment of principal portion of bank loans (392,263) 0
Payment of principal portion of finance leases (61,831) (61,929)
Net cash provided by financing activities 50,780,627 32,414,967
Net change in cash and cash equivalents 5,601,752 20,451,808
Effect of exchange rate changes on cash and cash equivalents 187,297 (97,657)
Cash and cash equivalents - beginning of period 61,890,048 7,908,181
Cash and cash equivalents - end of period 67,679,097 28,262,332
Supplemental disclosures of non-cash investing and financing activities:    
Lease receivable 392,586 0
Purchase of property and equipment included in accounts payable 412,483 1,100,179
Purchase of property and equipment with bank loans 0 1,653,000
Right-of-use asset obtained in exchange for operating lease liability 101,929 364,458
Right-of-use asset obtained in exchange for finance lease liability 0 501,389
Deemed dividend on inducement warrant 0 2,779,659
Board fees settled with common stock $ 0 $ 240,000