v3.22.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash from operating activities:    
Net loss $ (3,987,288) $ (3,358,903)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 145,627 171,382
Stock based compensation 438,809 153,163
Stock issued for services 80,000
PPP loan forgiveness including accrued interest (1,421,577)
Amortization of operating lease right of use asset 158,547 106,676
Changes in assets and liabilities:    
Accounts receivable 1,458,592 902,871
Contract assets (698,923) (50,331)
Inventory (481,880) (20,166)
Prepaid expenses and other current assets (218,198) 118,221
Accounts payable 268,425 (69,638)
Payroll taxes payable (3,146)
Accrued expenses (108,550) 66,338
Operating lease obligation 46,485 (110,843)
Contract liabilities 3,186,138 297,050
Net cash provided (used) in operating activities 287,784 (3,218,903)
Cash flows from investing activities:    
Purchase of patents/trademarks (13,660) (7,435)
Purchase of software development (15,000)
Purchase of fixed assets (140,549) (184,492)
Net cash used in investing activities (169,209) (191,927)
Cash flows from financing activities:    
Repayments of insurance and equipment financing (213,404) (191,798)
Repayment of finance lease (48,812) (43,527)
Proceeds from common stock issued 6,095,000
Issuance cost (576,650)
Proceeds from preferred stock issued 4,500,000
Net cash provided by financing activities 5,256,134 4,264,675
Net increase in cash 5,374,709 853,845
Cash, beginning of period 893,720 3,969,100
Cash, end of period 6,268,429 4,822,945
Supplemental Disclosure of Cash Flow Information:    
Interest paid 5,984 22,339
Taxes paid 1,264
Supplemental Non-Cash Investing and Financing Activities:    
Notes issued for financing of insurance premiums $ 327,586 $ 303,487

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