v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash from operating activities:    
Net loss $ (5,912,356) $ (5,809,340)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 225,825 281,220
Stock based compensation 592,177 215,753
Stock issued for services 120,000 75,000
PPP loan forgiveness including accrued interest (1,421,577)
Bad debt expense 76,046
Changes in assets and liabilities:    
Accounts receivable (454,431) 631,948
Contract assets (820,938) (147,412)
Inventory (395,787) 185,547
Security deposit (600,000)
Operating lease right of use asset 198,790 173,214
Prepaid expenses and other current assets 15,539 79,331
Accounts payable 605,129 378,853
Accounts payable-related party (7,700)
Payroll taxes payable (3,146)
Accrued expenses (136,180) 164,782
Operating lease obligation 60,668 (179,464)
Contract liabilities 2,051,109 384,277
Net cash used in operating activities (3,850,455) (5,522,668)
Cash flows from investing activities:    
Purchase of patents/trademarks (17,490) (7,435)
Purchase of software development (87,700)
Purchase of fixed assets (311,327) (303,341)
Net cash used in investing activities (416,517) (310,776)
Cash flows from financing activities:    
Repayments of insurance and equipment financing (303,492) (311,442)
Repayment of finance lease (69,325) (66,243)
Proceeds from common stock issued 8,550,002
Issuance cost (837,467)
Proceeds from preferred stock issued 999,000 4,500,000
Net cash provided by financing activities 8,338,718 4,122,315
Net increase (decrease) in cash 4,071,746 (1,711,129)
Cash, beginning of period 893,720 3,969,100
Cash, end of period 4,965,466 2,257,971
Supplemental Disclosure of Cash Flow Information:    
Interest paid 8,045 25,678
Taxes paid 1,264
Supplemental Non-Cash Investing and Financing Activities:    
Notes issued for financing of insurance premiums $ 353,244 $ 323,452

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