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 $ (3,111,806) $ (13,297,064)
Adjustments to reconcile net loss to net cash used for operating activities:    
Depreciation and amortization 204,663 137,379
Amortization of debt issuance costs 851,116
Impairment loss on investment (698)
Change in fair value of convertible note option liability (59,730)
Change in fair value of warrant liabilities (105,124)
Change in fair value of Earn-out Share Liability (8,800,000)
Share based vendor payments 208,000  
Share based compensation 439,913 334,774
Unrealized foreign currency transaction (gain) loss (150,216) 643,851
Amortization of operating lease right of use assets 117,365 253,345
Changes in operating assets and liabilities:    
Receivables 36,785 823
Inventories (572,256) (567,461)
Prepaid and other current assets 123,913 (4,924,290)
Other assets 53,534
Accounts payable 3,262,831 1,273,686
Accrued expenses (12,042) 806,691
Accrued interest 609,989
Other current liabilities 569,488
Operating lease payments (121,579) (265,034)
Net cash used in operating activities (7,065,145) (14,994,009)
Cash flows from investing activities    
Purchase of property and equipment (1,079) (32,997)
Purchase of intangible assets and trademarks (158,464) (100,315)
Net cash used in investing activities (159,543) (133,312)
Cash flows from financing activities    
Proceeds from revolving line of credit 1,300,000
Proceeds from related party notes 2,626,000
Proceeds from issuance of convertible notes 1,000,000
Proceeds from the issuance of shares under equity line of credit facility 836,766
Proceeds from the issuance of Series A-2 preferred stock, net of transaction costs 9,961,356
Proceeds from exercise of stock options 11 25,484
Net cash provided by financing activities 5,762,777 9,986,840
Effect of exchange rate changes on cash 14,286
Net decrease in cash and cash equivalents (1,447,625) (5,140,481)
Cash and cash equivalents at beginning of year 1,685,633 6,010,075
Cash and cash equivalents at end of year 238,008 869,594
Non-cash activities    
Crowdkeep asset acquisition 6,957,456
Settlement of convertible notes for shares issued 700,000
Issuance on Series A-2 preferred stock in exchange for Investor Deposits 2,048,776
Conversion of vendor payable to Series A-2 Preferred Shares 207,406
Supplemental cash flow information    
Interest paid $ 427,782 $ 317,794