Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash from operating activities:    
Net loss $ (2,752,309) $ (2,143,683)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 158,208 116,588
Stock based compensation 159,320 75,128
Stock issued for services 37,500 32,500
Amortization of operating lease right of use asset 83,348 77,101
Changes in assets and liabilities:    
   Accounts receivable 866,373 2,700,917
   Note receivable (1,875) 0
   Contract assets (270,099) (1,000,590)
   Inventory 23,828 (101,167)
   Prepaid expenses and other current assets 57,944 228,941
   Accounts payable (415,718) (1,008,207)
   Accrued expenses 76,370 (85,371)
   Operating lease obligation (82,306) (8,107)
   Contract liabilities 26,697 1,108,864
Net cash used in operating activities (2,032,719) (7,086)
Cash flows from investing activities:    
    Purchase of patents/trademarks (980) (7,339)
    Purchase of software development 0 (212,067)
    Purchase of fixed assets (8,830) (41,738)
Net cash used in investing activities (9,810) (261,144)
Cash flows from financing activities:    
   Repayments on financing agreements (130,535) (201,485)
   Repayment of finance lease 0 (11,285)
   Stock issuance cost (36,188) (299,145)
   Proceeds from preferred stock issued 2,745,002 4,000,000
Net cash provided by financing activities 2,578,279 3,488,085
Net increase in cash 535,750 3,219,855
Cash, beginning of period 2,441,842 1,121,092
Cash, end of period 2,977,592 4,340,947
Supplemental Disclosure of Cash Flow Information:    
Interest paid 0 1,180
Taxes paid 0 0
Supplemental Non-Cash Investing and Financing Activities:    
Notes issued for financing of insurance premiums $ 272,322 $ 320,004