v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (6,243,921) $ (5,938,044)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 670,111 469,243
Operating lease expense 471,459 423,593
Interest expense 84,938 179,455
Interest and other income, net (814,218) (338,191)
Deferred income tax benefit (336,457) (365,641)
Stock-based compensation expense 5,368,330 4,009,507
Provision for / (reversal of) credit loss reserve, net 297,882 (228,846)
Provision for slow moving inventory (6,225)
Changes in operating assets and liabilities:    
Accounts receivable, net (4,286,490) (2,337,679)
Inventory, net (1,411,376) (10,221,214)
Deferred revenue 2,205,501 1,739,652
Prepaids and other assets (3,955,550) (2,572,481)
Accounts payable 127,728 3,782,409
Income taxes payable, net 933,184 620,586
Accrued expenses & other liabilities 782,787 1,629,136
Operating lease payment (434,132) (407,188)
Net cash used in operating activities (6,546,449) (9,555,703)
Cash flows from investing activities:    
Purchase of property, plant and equipment (215,060) (1,189,452)
Net cash used in investing activities (215,060) (1,189,452)
Cash flows from financing activities:    
Proceeds from bank overdraft facility (net) 3,192,012 (1,014,593)
Proceeds from private investment in public equity, net of transaction costs 18,446,498
Proceeds from issuance of convertible notes to principal shareholder 28,000,000
Repayment of convertible notes to principal shareholder, including interest (4,212,637)
Repayment of convertible notes to other investors, including interest (1,068,849)
Net cash provided by financing activities 21,638,510 21,703,921
Net change in cash 14,877,001 10,958,766
Effect of exchange rate on cash (1,808,998) 23,377
Cash and cash equivalents at the beginning of the period 9,603,020 6,623,535
Cash and cash equivalents at end of the period 22,671,023 17,605,678
Supplemental disclosure of cash flow information:    
Transaction costs relating to private investment in public equity 175,000
Conversion of convertible notes into common stock, including interest 30,645,360
Transfer of systems from inventory to property, plant and equipment $ 2,167,971