Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash from operating activities:    
Net loss $ (10,764,457) $ (11,241,718)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,161,722 550,201
Stock based compensation 108,981 710,047
Stock issued for services 165,000 143,065
Amortization of debt discount related to warrant liabilities 184,002
Fair value of warrant liabilities (245,980)
Gain on settlement of warrant liabilities (379,626)
Amortization of operating lease right of use asset - Office Lease 344,757 316,776
Amortization of lease right of use asset - Edge Data Centers 50,820
Provision for credit losses, accounts receivable 76,037
Provision for credit losses, note receivable 161,250
Write off of inventory 126,703
Changes in assets and liabilities:    
   Accounts receivable 982,985 1,955,800
   Note receivable (7,500) (153,750)
   Contract assets 6,173 (216,225)
   Inventory 52,700 (97,804)
   Security deposit 50,000 50,000
   Prepaid expenses and other current assets 414,091 744,771
   Accounts payable 374,188 (1,694,756)
   Accrued expenses 209,138 (289,209)
   Operating lease obligation - Office Lease (342,206) (232,007)
   Lease obligation - Edge Data Centers 22,055
   Contract liabilities 2,760,480 708,245
Net cash used in operating activities (3,488,687) (8,746,564)
Cash flows from investing activities:    
    Purchase of patents/trademarks (9,535) (69,327)
    Purchase of software development (527,896)
    Purchase of fixed assets (1,831,763) (496,686)
Net cash used in investing activities (1,841,298) (1,093,909)
Cash flows from financing activities:    
   Repayments on financing agreements (430,855) (520,529)
   Repayment of finance lease (22,851)
   Proceeds from notes payable, related parties 2,200,000
   Proceeds from warrant exercises 899,521
   Proceeds from common stock issued 3,544,689
   Stock issuance cost (220,183) (25,797)
   Proceeds from shares issued under Employee Stock Purchase Plan 166,265 230,400
   Proceeds from preferred stock issued 2,995,002 11,500,000
Net cash provided by financing activities 9,154,439 11,161,223
Net increase in cash 3,824,454 1,320,750
Cash, beginning of year 2,441,842 1,121,092
Cash, end of year 6,266,296 2,441,842
Supplemental Disclosure of Cash Flow Information:    
Interest paid 3,865 7,159
Taxes paid 20,126 29,085
Supplemental Non-Cash Investing and Financing Activities:    
Debt discount for warrant liability 625,606
Notes issued for financing of insurance premiums 434,883 487,929
Transfer of inventory to fixed assets 545,091
Intangible asset acquired with contract liability 11,161,428
Equity Investment - Sawgrass APR Holdings LLC 7,233,000
Right of use asset and liability for Edge Data Centers $ 2,070,000