v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (2,650,408) $ (3,217,332)
Adjustments to reconcile net loss to net cash provided by operating activities    
Fair value of vested options 622,034 994,295
Fair value of vested restricted common stock 526,778 568,709
Fair value of common stock issued for services 46,457 239,130
Loss on fair value of common stock issued for settlement of vendor 33,750
Change in inventory reserve 5,000
Depreciation of capitalized software costs 161,543 161,543
Right of use assets 83,860 77,061
Amortization of intangible assets 577,341 543,917
Amortization of debt discount 6,143
Accrued interest (62,438)
Changes in operating assets and liabilities:    
Accounts receivable (19,197) 60,940
Inventories 656,613 290,999
Prepaid expenses and other current assets (108,261) (245,230)
Deposits (6,926)
Accounts payable 518,789 193,893
Accrued expenses (204,497) (53,978)
Customer deposits 1,865 (94,729)
Deferred revenue (34,187) 36,309
Deferred taxes (128,750) (146,858)
Operating lease liability (84,751) (74,594)
Net cash used in operating activities (36,697) (688,470)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from line of credit 39,209,772 30,435,894
Repayments of line of credit (39,268,460) (30,558,645)
Proceeds from note payable 985,000
Repayment of notes payable (3,178) (750,000)
Repayment of notes payable – related party (2,000,000)
Proceeds from sale of common stock under at-the-market sale agreement, net of issuance costs 30,593 1,031,113
Proceeds from sale of common stock in private placement, net of issuance costs 595,000
Proceeds from sale of common stock under stock purchase agreement, net of issuance costs 374,500
Proceeds from sale of common stock in public offering, net of issuance costs 478,000
Net cash provided by (used in) financing activities 563,727 (4,138)
Net increase (decrease) in cash and cash equivalents 527,030 (692,608)
Cash and cash equivalents beginning of period 3,654,944 4,301,842
Cash and cash equivalents end of period 4,181,974 3,609,234
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest paid 116,715 232,877
Taxes paid
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Common shares issued for trade accounts payable $ 108,750