v3.22.2.2
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Loss $ (6,684,415) $ (3,494,465)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 2,361,085 1,967,632
Depreciation and amortization 399,479 349,822
Deferred income taxes (1,579,569) (1,440,060)
Loss on disposal of fixed assets (1,009)
ROU landlord credit 218,044
Changes in operating assets and liabilities:    
Increase in accounts receivable (1,445,079) (549,711)
Increase in inventory (777,818) (138,160)
Increase in prepaid expenses and other assets (160,794) (529,039)
Increase in other Liabilities 267,491
Increase in accounts payable 138,077 760,493
Increase in accrued payroll and related taxes 663,444 45,684
Decrease in accrued expenses (140,958) (573,565)
NET CASH USED IN OPERATING ACTIVITIES (6,741,013) (3,602,378)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (2,541,693) (301,720)
Proceeds from disposal of property and equipment 9,065
Purchases of intangible assets (36,003) (25,838)
NET CASH USED IN INVESTING ACTIVITIES (2,577,696) (318,493)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings from indebtedness 644,733 924,389
Payments on indebtedness (508,583) (251,255)
Proceeds from issuance of equity 314,000 1,230,000
Common stock issuance as settlement for litigation 938,094
Payments on finance lease liability (25,062) (2,232)
NET CASH PROVIDED BY FINANCING ACTIVITIES 425,088 2,838,996
NET DECREASE IN CASH AND CASH EQUIVALENTS (8,893,621) (1,081,875)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 25,334,889 27,315,286
CASH AND CASH EQUIVALENTS, END OF PERIOD 16,441,268 26,233,411
Cash paid during the periods for:    
Interest 15,700 6,194
Income Taxes 850
Schedule of Non-Cash Operating, Investing and Financing Activities:    
Issuance of common stock as compensation 355,505 295,947
Issuance of common stock as settlement for litigation $ 938,094

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