v3.25.2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (6,977,339) $ (2,603,373)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 81,378 177,248
Amortization of debt discount 77,903 6,905
Stock-based compensation expense   41
ROU amortization on finance leases 25,826 29,888
ROU amortization on operating leases 7,741 34,665
Loss on extinguishment of debt 2,715,923 591,864
Gain on extinguishment of debt (14,019)  
Loss on termination of lease 37,196  
Change in fair value of convertible debt 319,695 123,408
Change in fair value of derivative liabilities 33,548  
Change in fair value of forward purchase agreement 971,000  
Change in fair value of 3(a)(10) Settlement Agreement (Note 4) (605,748)  
Changes in operating assets and liabilities:    
Accounts receivable (1,936,317) (352,286)
Other receivable (84,260)  
Contract asset 39,624 343,646
Inventory (241,928) (71,522)
Prepaid expenses and other current assets 532,325 195,475
Other assets (19,999)  
Accounts payable 1,183,729 79,793
Accrued expenses 643,393 661,366
Operating lease liabilities (12,865) (31,620)
Working capital advances 27,514  
Contract liabilities 369,873 (416,247)
Net cash used in operating activities (2,825,807) (1,230,749)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (2,844) (6,569)
Cash paid for capitalized software development costs (149,828)  
Net cash used in investing activities (152,672) (6,569)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the issuance of debt   2,447,615
Proceeds from the issuance of convertible notes 2,530,000  
Payments of deferred offering costs   (79,522)
Repayments of debt (321,181) (867,258)
Payments of financing fees   (631,489)
Receipt of funds from Libertas   1,057,275
Advance to Monterey Capital Acquisition Corporation   (977,147)
Payment on finance leases (30,349) (23,536)
Net cash provided by financing activities 2,178,470 925,938
Effect of exchange rate changes on cash and cash equivalents 10,210 12,940
Increase (decrease) in cash and cash equivalents (789,799) (298,440)
Cash, beginning of year 2,407,843 1,160,368
Cash, end of year 1,618,044 861,928
Supplemental disclosures of cash flow information:    
Cash paid for interest 29,469 216,531
Cash paid for taxes 0 0
Supplemental disclosures of noncash financing information:    
Carrying value of accounts payable extinguished with 3(a)(10) Settlement Agreement 5,278,077  
Carrying value of debt extinguished with 3(a)(10) Settlement Agreement 3,630,000  
Financed insurance premium included in prepaid expense 74,309  
Fair value of shares issued to settle Claim under 3(a)(10) Settlement Agreement 3,077,252  
Fair value of shares issued to settle the share reset derivative liabilities 1,712,005  
Extinguishment of accounts payable through issuance of debt 175,950  
Exchange of operating lease liability for accounts payable on terminated lease 59,037  
De-recognition of right-of-use asset, operating on terminated lease 39,929  
Extinguishment of operating lease liability on terminated lease $ 2,733  
Deferred offering costs included in accounts payable   $ 235,870