v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows From Operating Activities    
Net loss $ (4,992,290) $ (3,264,311)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 130,010 115,597
Depreciation and amortization 926,246 867,223
Amortization of discount on notes receivable (81,412)
Impairment of property & equipment 699,711
Loss on lease termination 53,425
Loss on sale of property & equipment 63,011
Amortization of right-of-use asset 255,876 195,146
Change in inventory reserve 172,463 28,697
Changes in operating assets and liabilities:    
Accounts receivable (243,147)
Inventories (848,489) (192,937)
Prepaid expenses and other current assets (5,299) (4,499)
Accounts payable 110,597 (189,923)
Accrued liabilities 697,558 132,352
Operating lease liabilities (222,814) (218,170)
Contract liabilities 129,868 (67,500)
Net cash used in operating activities (3,271,122) (2,481,889)
Cash Flows From Investing Activities    
Security deposit 14,087
Proceeds from sale of property & equipment 25,000
Purchase of property and equipment (235,477) (1,536,522)
Net cash used in investing activities (235,477) (1,497,435)
Cash Flows From Financing Activities    
Proceeds from issuance of common stock, net of fees of $1,392,615 and $444,899, respectively 5,800,025 2,555,100
Finance lease payments (10,694) (105,108)
Net cash provided by financing activities 5,789,331 2,449,992
Net change in cash, cash equivalents and restricted cash 2,282,732 (1,529,332)
Cash, cash equivalents and restricted cash at beginning of the period 1,646,695 7,706,240
Cash, cash equivalents and restricted cash at end of the period 3,929,427 6,176,908
Supplemental Cash Flow Information    
Cash paid for interest 192,883 156,815
Non-Cash Investing and Financing Activities    
Right of use asset - operating leases 2,775,160
Reconciliation to the Condensed Consolidated Balance Sheets    
Cash and cash equivalents 3,721,284 5,961,668
Restricted cash 208,143 215,117
Total cash, cash equivalents and restricted cash $ 3,929,427 $ 6,176,785