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 $ (1,588,906) $ (5,379,604)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation - stock options 293,373 850,992
Stock-based compensation - stock issued for services 7,460
Non-cash interest expense 7,898,323
Depreciation and amortization 237,996 312,224
Non-cash operating lease costs 41,707 41,707
Bad debt (recovery) expense (1,693) 59,022
Change in fair value of derivative liability (5,387,691)
Loss on extinguishment of convertible notes 839,151
Other 1,031 1,750
Changes in operating assets and liabilities:    
Accounts receivable (118,778) 36,789
Contract assets (38,933) (32)
Prepaid expenses and other assets 71,866 (738,475)
Accounts payable 498,604 (1,270,975)
Accrued expenses and other current liabilities (93,036) (63,054)
Lease liabilities (42,343) (36,349)
Deferred revenue (140,704) (124,746)
Net cash used in operating activities (879,816) (2,953,508)
Cash flows from investing activities:    
Purchases of property and equipment (8,911)
Net cash used in investing activities (8,911)
Cash flows from financing activities:    
Proceeds from sales of common stock, net of offering costs 1,719,556
Proceeds from convertible notes payable 5,000,000
Proceeds from line of credit 6,019,500 1,000,000
Payments on line of credit (6,182,179) (923,851)
Payments on loans payable (4,513) (1,639,284)
Payments of debt issuance costs (1,408,642)
Net cash (used in) provided by financing activities (167,192) 3,747,779
Net (decrease) increase in cash and cash equivalents (1,055,919) 794,271
Cash and cash equivalents - beginning of the period 1,695,994 992,589
Cash and cash equivalents - end of the period 640,075 1,786,860
Cash paid for:    
Interest 125,898 251,835
Income taxes
Supplemental disclosures of non-cash investing and financing activities:    
Common stock issued in exchange for services 91,000
Conversion of convertible notes - common stock 7,705,000
Conversion of Series B Preferred Stock to common stock 290,880
Adjustment to redemption value of Series B Preferred Stock $ 14,200